Zomato tanks 14% wiping out ₹1,000 crore investor wealth

  • Shares of Zomato tanked 14% in the first hour of trading today, wiping out nearly ₹1,000 crore of investor wealth in a flash.
  • Now, the lock-in period has ended for promoters and employees, and it is likely that many of those shareholders have likely cut their holdings – according to market data, the Zomato stock witnessed volumes of 8.5 crore as of 10:00 a.m. Lock-in period, as the name explains, is a period during which the shareholders cannot sell their holdings.