Unlisted Companies

MNC-backed firms dominate India's top unlisted companies, combining strong growth and financial discipline, though domestic players are gaining ground

India's top 100 unlisted firms generated Rs 8.9 trn in revenue in 2025, led by Reliance Retail, with Tata Electronics and other fast-growing firms signalling a strong pipeline of IPO-ready companies

Earnings in focus amid lacklustre capacity utilisation, and poor pick-up in sales for the latest available FY25 data

Listed firms are benefiting from structural tailwinds which allow them to pull ahead of their unlisted peers

With private investment slow to revive, the burden of sustaining economic momentum has fallen disproportionately on the government

Experts warn that unlisted shares often disappoint after IPO due to hype, low liquidity, and valuation gaps

Bira91 faces liquidity and operational challenges as revenue drops and losses widen; company seeks $100M funding to restart production and pay employees

Atum Capital alleges it was defrauded of 500,000 NSE shares worth over ₹115 crore by Supremus Angel, which has denied the charge citing lack of evidence

The sharp uptick in the market price of unlisted NSE is also attributed to demand from retail and high-net-worth individual (HNI) investors

Companies with higher FSI ranking have stronger balance sheets, better profit to cashflow conversion, high return on capital, and also reward their shareholders with generous equity dividends

The large share local subsidiaries of global MNCs have in the league table shows the role foreign companies and capital play in the Indian economy

Central Depository Services will facilitate these transactions, ending manual settlements and aligning with Sebi's SECC Regulations

The concluding part of the series looks at the financials of unlisted firms and examines capex trends

Uptick in FY24 mirrors similar trend in the listed space. The second of a 3-part series on unlisted firms' financials looks at their debt

After dropping nearly 5 per cent the previous week, the benchmark National Stock Exchange Nifty consolidated last week, gaining close to 1 per cent

Ambani-owned firms, MNC subsidiaries claim top spots

Tata Sons, the holding company of the Tata Group, has voluntarily surrendered its certificate of registration to the Reserve Bank of India (RBI)

And contrary to what you might think, it is all kosher

Just like the normal equity markets, investors can buy and sell shares of unlisted companies through select online platforms or well-known wealth managers/ brokers.

The industry players say that the new avenue will help startups and unlisted companies access global capital