The Zomato journey began in 2008, not as a delivery platform but as a restaurant discovery website. Initially, the company would take pictures of menu cards at restaurants and post it on their website.
The idea quickly gained traction, and Zomato expanded across India.
In 2013, Zomato ventured into online food ordering. This marked a pivotal shift, propelling Zomato towards its current dominance in a market-duopoly, with the other player being Swiggy.
In July 2021, Zomato’s highly anticipated IPO hit the Indian stock exchanges.
IPO Boom and Bust: Zomato’s debut was spectacular, soaring 66% above its issue price of ₹ 76 per share. Everyone and their neighbours wanted to buy Zomato shares.
There were 2 main reasons for this:
- Zomato was already a popular brand name, with great recall value.
- The Zomato stock price appeared to be cheap – at just ₹ 76 per share. Those with limited knowledge of the stock market, always confuse a lower share price to be a ‘cheap price’.
Very few understood the fact that Zomato, on listing, already had a market capitalization of ₹ 1 lakh crore. This was almost at par with well-established and cash-rich businesses like Pidilite.
Then came the plunge.
A 75% crash from the highs. The Zomato share price had dropped from ₹ 169 in November 2021 to lows of ₹ 40 by July 2022. Lock-in periods for investors expired, adding to the selling pressure.
Suddenly, everyone wanted to get rid of their Zomato shares. A complete contrast in sentiment just over a year ago. Those who had bought at higher prices, just wanted their buying prices to come back – so they could sell.
When the interest in a stock is at its lowest and when fear is at its highest – a new chapter usually begins.
April 2023 saw a remarkable turnaround – the company reported profits and the share started to recover – an investment at that time would have generated 180% returns in less than a year.
However, those who invested during the euphoric days of the IPO – did not end up getting good returns and also had to live through the pain of seeing the value of their holdings crash. Who said investing is easy?
Growing demand (despite challenges), Blinkit acquisition, and Hyperpure’s strategic revamp all contributed to optimism. Investing in Zomato comes with risks. The company is still young and faces stiff competition.
The journey of the Zomato share price has sure been a fascinating one already, with a lot more yet to come. Stay tuned to SharePriceX.
Zomato Share Price History
| Year | Share Price | Gain / Loss |
|---|---|---|
| IPO | ₹ 76.00 | |
| Listing | ₹ 126.00 | + 65.8% |
| 2021 | ₹ 137.40 | + 9.0% |
| 2022 | ₹ 59.30 | - 56.8% |
| 2023 | ₹ 123.70 | + 108.6% |
| 2024 | ₹ 264.89 | + 114.1% |
Zomato Share Price Chart
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Zomato Calculator
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The Zomato calculator will tell you the value of your Zomato investment in 2024.
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- During 2021, the share price of Zomato was ₹ 76.
- If you had bought shares worth ₹ 2500 in 2021, you would have 329 shares today.
- At the end of 2024, the current value of your shares would be ₹ 87135.
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