Mumbai: The market capitalization of Zomato, India’s largest food delivery, dining and restaurant discovery service touched an all-time low on Friday in the Indian equity market. The share price reached at Rs 57.65 on National Stock Exchange (NSE). This is for the 5th day in a row that the share price of Zomato is lowering.
The market capitalization of Zomato reached at Rs 45,381.69 crore. This is lowest since listing of Zomato in the equity market. The market capitalization has reached an all-time high of Rs 1,33,144.38 crore in November last year. At that time shares of Zomato traded at an all-time high of Rs 169.10 per share. Zomato shares have lost around 65% in last 4-5 months.
Zomato was listed in the Indian equity market in July 14,2021. The shares opened at a premium of 53 per cent over its IPO price, clinching a market capitalization of Rs 1 Lakh crore. The shareholders of the food delivery platform have turned poorer by Rs 87,800 crore following a 65% crash in the stock from the all-time peak.
According to market experts, Zomato is facing cash flow problem as its operational revenue is quite high.