Hot Pursuit     24-Aug-21
Zomato tumbles over 10% in two days
Zomato declined 2.24% to Rs 124.15, sliding for the second trading session.
Shares of Zomato have lost 10.84% in two days from its previous closing high of Rs 139.25 on 20 August 2021. The counter witnessed selling pressure as the lock-in period for the company's anchor investors ended on 23 August 2021, leading to high share sales volume on stock exchanges.

Anchor investors are institutional investors such as mutual fund houses or sovereign wealth funds that buy a substantial number of shares in an IPO-bound company. These investors have a 30-day lock-in period post-allotment.

On the BSE, 24.98 lakh shares were traded in the counter so far compared with average daily volumes of 33.20 lakh shares in the past two weeks. On the NSE, 4.15 crore shares were traded so far.

Shares of Zomato entered bourses on 23 July 2021. The scrip was listed at a price of Rs 115, a premium of 51.32% to the issue price of Rs 76 per share. The initial public offer (IPO) of online food delivery platform Zomato received bids for 2,751.27 crore shares as against 71.92 crore shares on offer. The issue was subscribed 38.25 times. The issue opened for bidding on 14 July 2021 and closed on 16 July 2021. The price band of the IPO was fixed at Rs 72-76 per share.

Ahead of the IPO, the company raised Rs 4,197 crore from 186 anchor investors on 13 July 2021. The company allotted 55.22 crore equity shares to anchor investors for Rs 76 per equity share. Out of the 55.22 crore shares allocation, 18.41 crore shares were allotted to 19 domestic mutual funds such as SBI, Axis, Aditya Birla, Kotak, Mirae, Motilal, UTI, Nippon India, HDFC, IIFL, Sundaram, Tata, and Principal, among others.

Zomato is one of the leading Food Services technology platforms in India in terms of value of food sold, as of 31 March 2021. The company is present in 23 countries. However, the company earns majority of its revenues from India which contributed 90.6% of its total revenues in FY2021 while United Arab Emirates and Rest of the World contributing 6.1% and 3.1% of the total revenues in FY2021 respectively.

The food delivery firm posted a consolidated net loss of Rs 356.2 crore in Q1 FY22, higher than the net loss of Rs 99.8 crore in Q1 FY21. The company's net sales jumped 217% year on year to Rs 844 crore in Q1 FY22 over Q1 FY21.

Previous News
  Zomato liquidates step-down subsidiary
 ( Corporate News - 12-Jul-24   17:39 )
  Board of Zomato Payments decides to voluntarily surrender online payment aggregator authorization
 ( Corporate News - 13-May-24   19:18 )
  Zomato records turnaround Q4 numbers
 ( Hot Pursuit - 13-May-24   17:02 )
  Zomato hits record high after PAT skyrockets to Rs 253 cr in Q1 FY25
 ( Hot Pursuit - 01-Aug-24   16:42 )
  Zomato allots 35.17 lakh equity shares under ESOP
 ( Corporate News - 01-Aug-24   14:37 )
  Zomato allots 38.72 lakh equity shares under ESOP
 ( Corporate News - 29-Aug-24   17:41 )
  Zomato reports consolidated net profit of Rs 138.00 crore in the December 2023 quarter
 ( Results - Announcements 08-Feb-24   17:27 )
  Zomato to hold AGM
 ( Corporate News - 07-Aug-23   17:11 )
  Zomato gains after Q4 net loss narrows to Rs 188 cr
 ( Hot Pursuit - 22-May-23   10:16 )
  Zomato Ltd leads gainers in 'A' group
 ( Hot Pursuit - 04-Aug-23   12:00 )
  Zomato consolidated net profit rises 12550.00% in the June 2024 quarter
 ( Results - Announcements 01-Aug-24   15:50 )
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