▶ IT WAS JUST ANOTHER MONDAY FOR THE STOCK MARKETS, but for online food delivery major Zomato, July 25, 2022 turned out to be a day of reckoning. Its stock price fell over 14 per cent during the day’s trade to touch a low of ₹46. It had listed at ₹76 last year. So, what happened?
The crash was triggered by the fact that the digital platform’s stock had completed a year of listing, and hence, the lock-in period for its pre-IPO shareholders had come to an end. As per the guidelines of markets regulator Securities and Exchange Board of India