The share price of Zomato dropped below Rs 100 for the first time since it listed in July 2021, falling more than 10 per cent in the morning trade.

The Indian market’s downward spiral continued for the fifth straight session on Monday, with the benchmark indices trading almost 2 per cent down each at mid-day.

Shares of One97 Communications, the parent of Paytm, CarTrade, PB Fintech, and Fino Payments Bank slipped between 10 and 50 per cent from their listing price.

Food delivery giant Zomato and online beauty products platform Nykaa parent FSN E-commerce sunk 21 per cent from their highs after listing on the bourses in 2021.

With the bloodbath at Dalal Street, market watchers found solace in memes and jokes, with many saying India’s unicorn bubble is bursting.

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