Shares of Zomato hit a record low on the bourses as the lock-in period for those investors who held shares prior to the initial public offering (IPO) ended on Saturday.
The food delivery platform saw its scrip sinking to a new 52-week low of Rs 46 on the BSE, a fall of 14.25 per cent.
The scrip, however, made some ground and closed at Rs 47.55 — a drop of Rs 6.10 or 11.37 per cent.
At close, it had a market cap of Rs 37,439.23 crore. Around 3.80 crore shares were transacted on the bourse, which was much higher than the two-week average of 35.35 lakh.
Similarly, on the NSE, the share fell to Rs 46 in intra-day trades and settled down 11.09 per cent at Rs 47.70.
The start-up had come out with its IPO at a price band of Rs 72-76 per share last July and it was subscribed by more than 38 times.
After its listing, the counter had risen to a 52-week high of Rs 169.10 in November last year. It had come under pressure a month after the listing as the lock-in for anchor investors ended.
The company had raised over Rs 4,196 crore from anchor investors at Rs 76 apiece.
Some of the investors included BlackRock, Tiger Global Investments Fund, Fidelity, New World Fund Inc, JP Morgan, Morgan Stanley Asia (Singapore) Pte-ODI, Goldman Sachs (Singapore) Pte -ODI, T Rowe, and Canada Pension Plan Investment Board among others.
