Zomato stock lost 3.75% to Rs 125.55 against previous close of Rs 130.45 on BSE

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Share of online food delivery platform Zomato fell nearly 4%, ahead of the firm’s June quarter earnings set to be announced today. Zomato stock lost 3.75% to Rs 125.55  against previous close of Rs 130.45 on BSE.

It touched an intra day high of Rs 131.60.

Total 11.18 lakh shares of the firm changed hands amounting to turnover of Rs 14.24 crore on BSE.

Market cap of the firm fell to Rs 99,476 crore today.

The share, which made its market debut on July 23, touched a record high of Rs 147.80 on July 27, 2021.

Zomato share listed at a premium of over 52% to IPO issue price. Share of Zomato opened at Rs 116, 52.63% higher on NSE against issue price of Rs 76. Market cap of the firm crossed Rs 1 lakh crore mark on the listing day.

Shares in the IPO were offered in a price band of Rs 72-76. The firm raised Rs 9,375 crore from the IPO. The issue was open from July 14 to July 16.

On the final day, the initial public offer (IPO) was subscribed 38.25 times.

The issue received bids for 2,751.25 equity shares against IPO size of 71.92 crore equity shares on offer. A day ahead of IPO, Zomato raised Rs 4,196.51 crore from 186 anchor investors.

For fiscal year ended March 31, 2020, standalone losses widened 160% to Rs 2,451 crore.  However, revenue grew 98% to Rs 2,486 crore in the same period.

Total expenses rose 36% to Rs 4,628 crore for March 2021 fiscal from Rs 3,383 crore in the year-ago period.