A raft of celebrities from entertainment, sports, and enterprises are endorsing food and grocery delivery disruptor Swiggy through the unlisted market ahead of its IPO despite competition from rivals from players like Zomato and Zepto.

In a recent round, Swiggy's pre-IPO shares were actively traded in the unlisted market, with approximately 200,000 shares already acquired by prominent individuals, said people involved in the transactions.

Notable investors in the company include cricketers Rahul Dravid and Zaheer Khan, tennis star Rohan Bopanna, studio owner Karan Johar, and actor and entrepreneur Ashish Chowdhry.

"Swiggy has significantly transformed the food delivery landscape in India, and participating in their evolution promises to be highly lucrative. The company's consistent innovation, spanning from food delivery to grocery services, has been instrumental in maintaining its competitive advantage in the industry," said Ashish Chowdhry, founder of Disrptve Ventures and an actor.

Earlier too Swiggy saw investments from Bollywood icons and entrepreneurs like Madhuri Dixit Nene, Amitabh Bachchan, and Ritesh Malik, founder of Innov8, participate in the company's pre-IPO rounds through the secondary market. Swiggy's rise in the food delivery sector has been phenomenal, positioning it as one of India's top tech startups. Beyond its success in food delivery, Swiggy is evolving into a diversified platform, exploring new verticals like quick commerce and hyperlocal logistics.

"I strongly believe in supporting innovative companies with strong business models that positively impact society. This investment isn't just about high growth potential, but also about backing a brand that's shaping the future of urban living and consumer convenience in one of the world's fastest-growing markets," said Zaheer Khan, a former India cricket player.

"The interest from sports and entertainment figures in Swiggy's pre-IPO shares points to a broader trend in which high-net-worth individuals are increasingly diversifying their portfolios by investing in tech startups with high growth potential," said a person aware of the deals. Swiggy, with its robust market presence and innovative offerings like Swiggy Instamart, has proven to be a promising bet for investors looking to capitalize on the booming food tech sector.

According to experts, celebrities, in particular, are drawn to pre-IPO investments because they offer significant upside potential once the company goes public. Zomato's stock market debut in 2021 saw overwhelming demand, with its shares surging on listing, offering early investors attractive exits.

The planned IPO follows a series of successful fund raises by Swiggy, which have drawn investments from global venture capital giants like SoftBank Vision Fund, Accel, and Prosus.

The company has also raised capital through secondary markets, where it has attracted a diverse group of investors. Motilal Oswal Financial Services chairman Raamdeo Agrawal has also acquired a stake in Swiggy and automobile materials manufacturer Hindustan Composites.