CLSA also hiked the target price on Zomato shares to Rs 400 apiece, indicating a 64 percent upside from current levels
Goyal will, however, continue to discharge his roles and duties as MD and CEO of Zomato during the period. He is also entitled to variable pay, the total amount of which will be decided by the board at a later date.
When compared to certain global delivery peers, who are facing concerns with scaling up and seeing pressure on margins, market experts are predicting a continued rise in Zomato.
In December, Softbank’s venture capital fund, SVF Growth (Singapore) PTE had exited Zomato and sold 9.36 crore shares worth Rs 1,127.51 crore through open market transactions