Why Zomato shares plunged to all-time low today?
The public issue of Zomato Limited was listed on BSE and NSE on 23rd July 2021
Zomato share price today tumbled by over 11 per cent in early morning deals as one year lock-in for promoters, shareholders, employees and other has ended today.
The food chain platform's total paid up capital of the one year overhang is around 78 per cent and market experts were expecting Zomato shares to witness sell-off pressure this week.
The public issue of Zomato Limited was listed on BSE and NSE on 23rd July 2021.
Zomato shares opened downside in early morning deals on Monday and went on to breach its life-time low of ₹50.05 apiece, later made another record low of ₹47.50 within few minutes of stock market's opening bell today.
Shares of Zomato were listed on BSE and NSE on 23rd July 2021 at a strong premium of more than 51 per cent.
After bumper listing, Zomato shares went on to make its life-time high of ₹169 per share levels in November 2021 breaching ₹1 trillion market valuations during its post-listing rally.
However, Zomato shares have been under sell-off heat after climbing to its life-time high and has been making new 52-week lows since the last few sessions.