Zomato sinks 23% in two days; loses Rs 1-trillion m-cap from all-time high

With past two days decline, Zomato now trades 46 per cent below its issue price of Rs 76 per share and corrected 76 per cent from its record high level of Rs 169.10 on November 16, 2021.

Shares of Zomato hit a new low on slipping over 10 per cent for a second straight day after the one-year freeze on all its pre-IPO (initial public offering) shareholding ended.

The stock of the food delivery start-up touched an all-time low of Rs 41.40, down 13 per cent on the BSE in intra-day trade on Tuesday. In the past two trading days, it has plunged 23 per cent from a level of Rs 53.65 on Friday.

With the decline in last two days, Zomato now trades 46 per cent below its issue price of Rs 76 per