A day before its debut in stock market, Zomato’s app and website crashed

New Delhi, July 22: In what comes as a recent development, Zomato's mobile application and its website have crashed, just a day before its listing on the Bombay Stock Exchange (BSE). It can be seen that Zomato is an Indian multinational restaurant aggregator and food delivery company.

Earlier, Zomato's IPO was launched and it generated interest within the investor community and beyond. Market experts had a mixed opinion on the prospects of Zomato's stocks. Most of it can be attributed to the fact that the company is still incurring huge losses and it is predicted that the downward momentum will continue given its 'significant investments' to prime pump its growing business.

"Effective from Friday, July 23, 2021, the equity shares of Zomato Limited shall be listed and admitted to dealings on the Exchange in the list of ''B'' Group of Securities," the BSE said in a notice.