Flipkart to Oyo, top 4 unicorns account for half of combined valuation

Indian unicorns notch up valuation of $128.9 bn in 2020; several looking at IPOs

Indian unicorns rustled up a combined valuation of $128.9 billion in 2020 with 11 new players joining the exclusive club last year, according to a report by BofA Global Research.

It’s an impressive figure given that Reliance, the country’s largest company in terms of market cap, is pegged at around $181 billion and the second largest, Tata Consultancy Services, is $165 billion.

Unicorns are companies that have a valuation of $1 billion and above based on their last round of fund-raising.

What is also interesting is that the top four unicorns — Flipkart, Paytm, Byju’s, and Oyo — which are also known as