One of India’s most valuable unlisted firms, valued at Rs 877500000000, in list with Serum Institute, Dream 11, owned by…, name is…

This remarkable performance by Indian enterprises, both listed and unlisted is highlighted by Axis Bank's Burgundy Private and Hurun India.

Written by: Anirudha Yerunkar Edited by: Anirudha Yerunkar

Published: February 26, 2025, 10:29 AM IST

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https://www.india.com/business/onee-of-indias-most-valuable-unlisted-firms-valued-at-rs-877500000000-in-list-with-serum-institute-dream-11-owned-by-nikhil-kamath-nithin-kamath-name-is-zerodha-7641279/ Copy

In the recently released Axis Bank’s Burgundy Private and Hurun India, the National Stock Exchange (NSE) emerged as the top-ranked unlisted firm, with a valuation of Rs 4.7 lakh crore. It also claimed 10th place in the overall ranking of the 500 most valuable listed and unlisted companies. The Serum Institute of India, led by Adar Poonawalla, ranked second among unlisted firms. Other notable companies in the top 10 unlisted category are Zoho Corporation, Megha Engineering, Parle Products, Intas Pharmaceuticals, and Dream 11.

Unlisted firms featured in the list have a minimum valuation of $1 billion, according to the report. These companies, unlike listed firms, do not have shares traded publicly.

Zerodha By Nithin Kamath And Nikhil Kamath

Zerodha, co-owned by Nithin Kamath and his brother Nikhil Kamath, has emerged as one of India’s most valuable unlisted firms. The company’s valuation has surged 50% year-on-year, reaching Rs 87,750 crore, now standing alongside renowned names like Zoho Corporation and Dream 11. Based in Bengaluru, Zerodha is a financial services firm offering discount brokerage services to retail Indian investors and traders.

The Kamath brothers’ journey began with Nithin entering the stock trading world at the age of 17. Nikhil later followed him and together, they transformed the broking industry. They quit their jobs and launched Zerodha, addressing challenges like high brokerage fees, lack of transparency, and complex trading processes. Their platform introduced a low-cost, smart trading solution for retail investors.

India’s Most Valuable Listed Companies

In the listed companies category, Reliance Industries Limited, helmed by billionaire Mukesh Ambani, retained its position as India’s most valuable firm. It was followed by Tata Consultancy Services (TCS) and HDFC Bank. The combined valuation of India’s top 10 listed companies has surpassed Saudi Arabia’s GDP, with their market value increasing by Rs 22.7 lakh crore to Rs 96 lakh crore ($1.1 trillion). This accounts for nearly one-third of India’s GDP and 30% of the total valuation of the 2024 Burgundy Private Hurun India 500.

The report also highlighted that Bharti Airtel contributed the highest absolute value increase, adding over Rs 4 lakh crore to its valuation. Meanwhile, the National Stock Exchange recorded the highest percentage growth in valuation.