Hurun India 500 list: NSE, Serum Institute, Zerodha among most valuable unlisted companies; check top 10 list here | Stock Market News
Source: Live Mint
Hurun List 2024: Mumbai-based National Stock Exchange (NSE) of India has emerged as the most valuable privately-owned unlisted company, according to the report jointly released by Axis Bank’s Burgundy Private and Hurun India.
NSE witnessed a remarkable valuation surge of over 200 per cent, reaching ₹4.7 lakh crore as it prepares for its initial public offering (IPO).
As per the 2024 Burgundy Private Hurun India list released on Tuesday, the IPO-bound NSE has reportedly resumed its listing process by seeking a no-objection certificate from the Securities and Exchange Board of India (SEBI).
“The National Stock Exchange surged by 201% in value to INR 4.7 lakh crore, overtaking SII, to emerge as India’s most valued unlisted company,” the report said.
This was followed by by Cyrus Poonawalla’s Serum Institute of India and Sridhar Vembu’s Zoho Corporation. Fantasy sports platform Dream 11, stock broking firm Zerodha also made it to the top 10 list of most valuable unlisted companies in India.
The report further revealed that unlisted companies comprise 22 per cent of the 2024 list, a 4 per cent decline from last year.
According to the report, all companies, both listed and unlisted, featured in the 2024 ‘Burgundy Private Hurun India 500’ have a minimum valuation of $1 billion.
These firms achieved a strong 11 per cent growth in sales, collectively generating $1 trillion in revenue. Unlisted companies make up 22 per cent of the 2024 list, reflecting a 4 per cent decrease from the previous year.
Most valuable companies in India
Reliance Industries secured the top spot in the 2024 Burgundy Private Hurun India list of the 10 most valuable private companies in India, with Tata Consultancy Services (TCS) and HDFC Bank ranking second and third, respectively. The total market value of these top 10 companies exceeded Saudi Arabia’s GDP.
“The combined value of the top 10 companies increased by INR 22.7 lakh crore to INR 96 lakh crore (US$1.1 trillion), which is almost one-third of India’s GDP and 30% of the total value of the 2024 Burgundy Private Hurun India 500. The National Stock Exchange, valued at INR 4.7 lakh crore, is the highest value creator in percentage terms. Bharti Airtel has contributed the highest value in absolute terms, adding more than INR 4 lakh crore this year,” the report said.
