Rapido's low-fee food delivery launch challenges Zomato and Swiggy, threatening high-margin models in price-sensitive India.

• Rapido to undercut rivals with 8–15% take rates, compared to Zomato’s 24.4% and Swiggy’s 21.9%.
• Eternal’s food delivery growth is slowing, missing guidance, raising concerns over its high-fee sustainability.
• Swiggy owns 13% of Rapido, possibly benefiting if the new entrant disrupts the food delivery market.