Zomato gets RBI nod for online payment aggregator; details inside

About the Approval 

Zomato Limited which is in the business of online food ordering, today just before the market closure reported to the exchanges that it has got approval from RBI to operate as an Online Payment Aggregator in India with effect from January 24, 2024, as per the guidelines issued by the RBI.

Earlier the company on August 4, 2021, incorporated Zomato Payments Private Limited (ZPPL) a wholly owned subsidiary of Zomato Limited to carry out the business as payment aggregator and issuer of pre-paid payment instruments.

Stock Performance

In the last trading session, the stock closed at Rs 136.25. Today, it opened at Rs 135.70 and closed at Rs 136, down by 0.18%. The 52-week high stands at Rs 141.55, while its 52-week low stands at Rs 44.35. Currently, the company boasts a market capitalisation of approximately Rs 1,18,450 crore. Over the past six months, the company’s shares have provided a staggering return of 64.69%. Looking back over the past year, the company’s shares have yielded multibagger returns of 184.52%, in the same time frame BSE Consumer Discretionary has changed by 43.87%.

About the company 

Zomato Ltd which is a leading player in the industry offers services such as online ordering, restaurant reservations, and loyalty programmes. The company’s main revenue streams come from commission fees charged to restaurants and delivery fees charged to customers, as well as advertising and subscription fees. Zomato is well-positioned to capitalise on these trends with its strong brand recognition and wide range of services. Zomato Ltd also holds other brands like Zomato a food delivery app, Hyperpure a food supply platform for restaurants, blinkit an online shop for groceries and getting your order delivered to your doorstep and Feeding India a non-profit organisation dedicated to eradicating hunger and improving malnutrition outcomes in India.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.