Zomato Ltd. CEO Deepinder Goyal's stake in the company reached a value of Rs 8,464 crore ($1.01 billion) following a significant rally on Monday. Goyal's 4.26% shareholding was valued at over Rs 8,571 crore at the stock's peak, with the day's gains adding Rs 323 crore to his stake. The stock hit an all-time high, surging nearly 4%.
The company's market capitalisation has risen by 86%, gaining from Rs 1.07 lakh crore at the start of the year to over Rs 2 lakh crore as of 2 p.m. today. The company's market cap closed at Rs 2.02 lakh crore.
This increase was driven by a recent announcement of a platform fee hike, which saw the fee rise to Rs 6 from Rs 5. This is the second increase in three months, following a previous hike to Rs 5 per order.
The surge in share price and market cap highlights investor confidence following the fee hike announcement, propelling Zomato's market cap past the Rs 2 lakh crore milestone.
Shares of Zomato closed 3.05% higher at Rs 229.25 per share, as compared to a 0.35% advance in the Sensex. The stock rose as much as 4.28% during the day to Rs 232 apiece on the NSE.
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