Zomato was down 8 percent on Monday as the lock-in period for anchor investors ended. However, there was some pickup in delivery volumes.

Share Market Live

NSE

The company had issued 55.2 crore shares to almost 76 anchor investors, raising almost Rs 4,200 crores, which is among the largest anchor books we have seen.

The stock was up 67 or close to 70 percent from issue price itself; here is an interesting data - the delivery stats, the stocks marked for delivery increased progressively from close to around 50 lakh on August 18, 1.7 crore on August 28 to 2.6 crore on August 23, which was yesterday, but that still accounts for just 5 percent of the overall anchor book.

As a proportion of shares traded versus marked for delivery yesterday, it was close to four shares marked for delivery as against 10 shares traded, and that is also higher than what we have seen in the last three trading sessions.

The important part is, just 5 percent shares are marked for delivery so will there be more supply coming in?

Secondly, how will business behave now that dine-out has opened in a lot of the cities as well, and everyone’s pinning their hopes on the grocery delivery pilot, will that succeed or not is something that everyone will keep an eye out on.

Also Read:

Zomato shares extend losses, fall over 13% in two sessions; experts still bullish

(Edited by : Dipika)

First Published:Aug 24, 2021 1:50 PM IST