Zomato Share News: Zomato will give 4.66 crore shares to its employees under ESOP, there was a huge jump in the stock of the company.
New Delhi: There is profitable news for the employees of online food delivery company Zomato. The company is going to allot shares to these employees. Zomato has decided to allot stock to its employees under the Employee Stock Option Plan (ESOP). Zomato will allot 4.66 crore shares of face value of Re 1 to its employees. Presently the share price is trading close to Rs.43. The company’s stock has seen a good jump on Wednesday. On the BSE, the company’s stock was seen trading at 43.65 with a jump of 4.80 percent or Rs 2 on Wednesday afternoon.
In a letter to the stock exchange, the company said, “The board of the company in its meeting held on July 25, approved the allotment of 4,65,51,600 equity shares of face value of Re 1.” These shares will be given to the selected employees of the company.
One year has been listed in the market
Earlier in the year 2018 plan, Zomato had allotted shares worth Rs 63.5 lakh under ESOP. At the same time, in the plan for the year 2021, the company had allotted shares worth Rs 4.02 crore. In this way the total share allocation of the company has become Rs 792.02 crore. Recently one year has been completed by Zomato shares listed in the stock market. This stock has seen heavy selling pressure for some time now. In just a week, the company has lost a quarter of its value.
Today after two days of decline
Shares of Zomato had seen a sharp decline in the first two trading days of the week. However, on Wednesday, the company’s stock saw a good rally. The company’s stock was seen trading with a gain of 4.44 percent during the trading session on Wednesday. Punit Patni, Equity Research Analyst, Swastika Investmart Ltd said, “Zomato Ltd stock fell to its all-time low on Monday after the mandatory pre-IPO shareholders’ lock-in period ended on July 23.”
This is the reason for the fall in the shares of the company
The reason for the fall in the shares of the company before Wednesday is the lock-in period for the sale of 613 crore stock of the company to end on July 23. Because of this, there was a sell-off in the shares of the company. Experts say some of Zomato’s big pre-IPO investors have sold their shares. Due to this, the company’s stock saw a tremendous decline on Monday and Tuesday. The company’s stock had lost more than 14 percent during the day’s trading on Monday. Let us inform here that according to the rules of SEBI, if a person held shares of the company before the IPO of a company, then he cannot sell those shares for one year after listing.
