<ul><li>Shares of Zomato parent Eternal and its rival Swiggy dropped due to Rapido planning to launch food delivery services with significantly lower commissions.</li><li>Rapido will charge a flat commission of Rs 25 for orders below Rs 400 and Rs 50 for higher orders, translating to 8–15% commission from restaurants, compared to 16–30% charged by Zomato and Swiggy.</li><li>India’s online food delivery market is expected to more than double to $15 billion by March 2029, according to a report by JM Financial.</li><li>Morgan Stanley noted that online food delivery penetration in India is still in the early stages, implying a long runway for growth, with price targets set for Eternal and Swiggy.</li></ul>

Shares of Eternal, Swiggy drop as Rapido undercuts food delivery commission

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