Read on the application
zomato share priceJapanese tech giant SoftBank is likely to sell Zomato shares soon. CNBC-TV18 reports that the lock-in for the post-Blinkit deal ends today. Following the news, the jitters among Zomato shareholders were palpable and seeing this, the stock fell to Rs 90.45 after opening at Rs 93.35. Around 1.40 pm, the stock fell 3.25 percent to Rs. was at 90.75.
About 51 lakh shares of Zomato changed hands in a block on Friday, sending the stock down more than 3%. Zomato last year issued fresh equity shares to all selling shareholders of Blinkit as consideration for the M&A. Zomato had negotiated a 12-month lock-in for these shares compared to the statutory lock-in requirement of six months.
The stock fell from ₹118 to ₹3.30, returning over 23 percent in the last 6 months
Most of these stocks are owned by just three venture capital investors, SoftBank, Tiger Global and Sequoia. JM Financial’s analysis shows that Zomato’s pre-IPO and pre-Blinkit shareholders are currently making significant profits.
A jump of almost 70 percent in the last 6 months
Shares of Zomato have jumped nearly 70 percent in the last 6 months. On February 27, the share was Rs. was trading at 53.60. After this, it fell to Rs 50 in March. A few days ago Rs. Shares fell today after hitting a 52-week high of 102.85. It has returned more than 50 percent to its investors so far this year.
(Disclaimer: Recommendations, suggestions, views and opinions given by experts are their own and not those of Live Hindustan. The information given here is only about stock performance, it is not investment advice. Investing in stock market is subject to risks and consult your advisor before investing. consult.)