NSE pips Serum Institute to become India's most valuable unlisted firm

The National Stock Exchange surged by 201% in value to Rs 4.7 lakh crore, overtaking SII, to emerge as India's most valued unlisted company.

The National Stock Exchange (NSE) has claimed the top spot as the most valuable unlisted company in India, according to the 2024 Burgundy Private Hurun India 500 report. The NSE, headquartered in Mumbai, surged by an impressive 201% in value, reaching an estimated worth of Rs 4,70,250 crore.

 

This year’s report marked a significant change as Serum Institute of India, the Pune-based vaccine giant, lost its long-held title, dropping to second place. The Serum Institute’s valuation increased by 10%, reaching Rs 2,11,610 crore, but it wasn’t enough to maintain its dominant position in the rankings.

 

The 2024 Burgundy Private Hurun India 500 highlights the remarkable growth of unlisted companies, with several players gaining significant momentum in terms of valuation.

 

The rankings also revealed some interesting movements in the list of the top 10 unlisted companies. Other notable climbers include Zoho Corporation, which jumped to the third spot with a 58% increase in value, reaching Rs 1,03,760 crore. Zerodha, the Bengaluru-based fintech company, also saw a 50% rise, placing it in fourth with a valuation of Rs 87,750 crore.

 

Meanwhile, Megha Engineering & Infrastructures experienced a modest 15% growth, securing the fifth position with a valuation of Rs 77,860 crore, while Parle Products rose by 16% to claim the sixth position with a value of Rs 68,640 crore.

 

Among the other unlisted companies in the top 10, Intas Pharmaceuticals and Dream11 saw smaller value increases of 10% and 13%, respectively, while Razorpay, the leading payments platform, saw an 11% rise, landing at the ninth spot with a value of Rs 63,620 crore.

 

Additionally, Amalgamations, a Chennai-based company, entered the top 10 for the first time, with a 68% increase in value to reach Rs 56,660 crore.  Unlisted companies comprise 22% of the 2024 list, a 4% decline from last year. To qualify for inclusion in the ‘2024 Burgundy Private Hurun India 500’ list, companies must have a minimum value of Rs 9,580 crore, equivalent to US$1.1 billion, as of 13 December 2024. The average age of the companies on this list is 43 years. The combined value of the 2024 Burgundy Private Hurun India 500 companies amounts to Rs 324 lakh crore (US$3.8 trillion). Over the same period last year, BSE SENSEX increased by 27%, NIFTY 50 grew by 30% year-on –year (YoY), whilst the S&P BSE 500 rose by 38%.

 

Top 10 Unlisted Companies in 2024 Burgundy Private Hurun India 500: