Zomato Plunges 11% to Record Low as IPO Lock-Up Period Ends
- Indian food-delivery platform is latest firm to face pressure
- Morgan Stanley, Fidelity were among buyers in initial offering
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Shares of Indian online food-delivery and restaurant platform Zomato Ltd. plunged in Mumbai after the end of a lock-up period for investors that had stakes in the company prior to its initial public offering.
The stock dropped 11% to a record low of 47.60 rupees.