The share price of food delivery platform Zomato Ltd fellbelow Rs 100 for the first time since it was listed in July 2021. On Monday,the first trading day of the week, the price of shares of Zomato fell by 18.26percent and came down to Rs 92.90.
Zomato shares fell 25 percent
Since the listing, the stock price of Zomato has broken upto 25 percent. Due to this decline, those investing in this food deliveryplatform have suffered heavy losses. According to a report, the company'sinvestors have lost assets worth about Rs 26,000 crore since the listing.Reports have suggested that the decline is mainly because the Federal Reservehas withdrawn liquidity amid high inflation and several interest rates hikesthis year.
Paytm shares fall 55 percent
Along with Zomato, online payment service provider Paytm'sparent company One97 Communication, CarTrade, PB Fintech, and Fino PaymentsBank also continued to decline. The share price of these companies has fallenby 10 to 50 percent from the IPO price. According to a report, Paytm's investorshave suffered the most and its share price has slipped up to 55 percent fromthe listing price. With this, shares of Nykaa's parent company FSN have fallen21 percent from their post-listing highs.