Zomato makes its mark as the first Indian startup to join BSE Sensex 30 , replacing JSW Steel.

Deepinder Goyal-led food delivery giant Zomato has achieved a historic milestone by becoming the first Indian startup to join the Bombay Stock Exchange’s (BSE) Sensex 30, replacing JSW Steel Ltd in the elite list of India’s top 30 companies. 

This change, effective from December 23, is expected to bring inflows of approximately $513 million (₹4,362.35 crore) for Zomato, while JSW Steel may see outflows of $252 million (₹2,142.91 crore).  

Zomato's Rise to Prominence  

The inclusion of Zomato in the Sensex signifies a shift in Indias financial landscape with tech driven companies now standing alongside traditional industries on the nation most prestigious stock market index.  

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Stock Performance 

Zomatos strong stock performance has been a major highlight. Over the past six months, its share price has surged by 38-43 percent, and it has delivered impressive gains of 114-126 percent over the past year. The company’s market capitalization now stands at approximately ₹2.64 lakh crore as of December 23.  

Financial Achievements

In the second quarter of the current fiscal year, Zomato reported revenue from operations of ₹4,799 crore marking a significant 68.5% quarter-on-quarter growth. Additionally, the company’s net profit surged to ₹176 crore, a remarkable 4.8x increase from the same period last year.  

By contrast, rival Swiggy reported a net loss of ₹625 crore on revenues of ₹3,601 crore during the same quarter.  

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Fundraising Success 

Zomato recently raised over $1 billion (₹8,500 crore) through a qualified institutional placement (QIP) its first major fundraise since its IPO in 2021. It allocated 33.65 crore equity shares at ₹252.62 per share, further solidifying its position as a leader in the food-tech space.  

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