A joint report by Axis Bank’s Burgundy Private and Hurun India highlights the rising significance of unlisted companies in India, with Dream11, Zerodha, and Parle among the most valuable. The National Stock Exchange (NSE) is the leading unlisted company, valued at Rs 4,70,250 crore, followed by Serum Institute of India and Zoho. Other notable firms include Megha Engineering, Intas Pharma, and Razorpay. Unlisted companies contributed significantly to the Indian economy, with combined turnover exceeding $1 trillion, though their share dipped to 22%. The overall list, featuring 82 new entrants, illustrates the economic importance of these companies.
A collaborative report from Axis Bank’s Burgundy Private and Hurun India has highlighted the increasing importance of unlisted companies in India’s economic framework. Among the most valuable unlisted firms are the fantasy sports platform Dream11, the stock brokerage company Zerodha, and the FMCG leader Parle.
The National Stock Exchange (NSE) stands out within this group, earning an impressive 10th place in the total list of 500 most valuable firms, including both listed and unlisted entities. The Serum Institute of India, headed by Adar Poonawala, ranks closely behind as the second most valuable unlisted company, with Zoho Corporation and Megha Engineering also making it into the top ten.
Here are the top 10 most valuable unlisted companies in India:
1. The National Stock Exchange (NSE) leads with a valuation of Rs 4,70,250 crore, under the management of CEO Ashish Kumar Chauhan.
2. Serum Institute of India is in second place with a valuation of Rs 2,11,610 crore, overseen by CEO Cyrus Poonawala.
3. Zoho’s valuation is Rs 1,03,760 crore, with Sridhar Vembu serving as CEO.
4. Zerodha’s worth stands at Rs 87,750 crore, led by CEO Nitin Kamath.
5. Megha Engineering & Infrastructures Ltd (MEIL) is valued at Rs 77,860 crore, with P.V. Krishna Reddy as its CEO.
6. Parle boasts a valuation of Rs 68,640 crore, guided by CEO Vijay Kantilal Chauhan.
7. Intas Pharma is valued at Rs 68,150 crore, with Nimish Chudgar at the helm as CEO.
8. Dream11’s valuation is Rs 67,860 crore, led by CEO Harsh Jain.
9. Razorpay has a valuation of Rs 63,620 crore, with Harshil Mathur as its CEO.
10. Amalgamations Group completes the list with a valuation of Rs 56,660 crore, under CEO Ram Venkataramani’s leadership.
(Source: Burgundy Private & Hurun India)
These unlisted enterprises hold considerable significance in the Indian economy. Together, the listed and unlisted companies on the “Burgundy Private Hurun India 500” list, each valued at over $1 billion, achieved a total turnover of $1 trillion, reflecting strong 11% sales growth. Although the share of unlisted companies has slightly decreased this year to 22%, their impact remains noteworthy.
The ultimate list is led by Reliance Industries, followed by Tata Consultancy Services and HDFC Bank. The cumulative value of these 500 companies exceeds India’s GDP, underscoring their economic importance. Notably, this year’s list welcomed 82 new entrants.