Zomato hits all-time low, slips below IPO issue price
NEW DELHI: Shares of Zomato hit the lowest point ever on Tuesday amid continued selling in loss-making internet companies even as the wider market recovered from frantic selling a day prior.
The stock hit a new low of Rs 75.75 on BSE and slipped below the IPO issue price of Rs 76. The stock had turned into a multibagger before the selling began but now it has wiped out all of its gains in the last three months.
The selling has persisted despite the company narrowing its losses ..