1. Zomato’s stock hit a record high of Rs 232 on the BSE, up 4% in a single day.
2. The surge pushed Zomato’s market cap above Rs 1.9 lakh crore.
3. Founder Deepinder Goyal’s net worth surpassed Rs 8,000 crore with his 4.24% stake in Zomato.
New Delhi, July 15: The stock of Zomato surged 4% to a lifetime high of Rs 232 on the BSE, marking a 300% increase since its low in July 2023.
This surge propelled Zomato’s market cap to over Rs 1.9 lakh crore, elevating Goyal’s net worth beyond Rs 8,000 crore. Goyal, owning 36.95 crore shares, holds a 4.24% stake in the company.
The rise is credited to Blinkit’s robust performance in quick commerce, outperforming competitors and poised for profitability sooner than expected.
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Zomato targets EBITDA break-even for Blinkit by Q1 fiscal 2025, bolstered by strong investor confidence in its food delivery business.
Analysts foresee Blinkit’s value exceeding Zomato’s core business, with a projected GOV growth of 53% CAGR from FY2024-27, aiming to surpass food delivery by FY29. Acquired in 2022 for $568 million, Blinkit has transformed into Zomato’s most valuable segment.
Deepinder Goyal, an IIT Delhi graduate, co-founded Zomato in 2011, pivoting from FoodieBay.com.
His vision and strategic investments have solidified Zomato as India’s food tech industry leader, achieving unicorn status in 2018.
