Dream11, Zerodha And Parle Among Most Valued Unlisted Companies In India — Check Top 10 List

Fantasy sports platform Dream11, stock brokerage firm Zerodha, and popular food giant Parle are among the top most valuable unlisted companies in India as of 2024.

According to a report jointly released by Axis Bank's Burgundy Private and Hurun India, the National Stock Exchange (NSE) of India, based in Mumbai, has topped the list as the most valuable non-state-run unlisted company.

The NSE has also secured the 10th spot in the overall list of 500 most valuable companies in India. Billionaire Adar Poonawalla-led Serum Institute of India is the second most valuable unlisted company in India. Zoho Corporation and Hyderabad-based Megha Engineering are also among the top 10 most valuable unlisted firms.

The report stated that all the companies (listed and unlisted) in the 2024 ‘Burgundy Private Hurun India 500’ are worth at least a billion dollars. These companies delivered a robust 11% sales growth, recording combined sales of US$1 trillion. The unlisted companies comprise 22% of the 2024 list, which is a 4% decline compared to last year.

Overall, the report positioned Mukesh Ambani-led Reliance Industries as the most valuable company in India with a value of Rs 17.5 lakh crore. It is followed by Tata Consultancy Services (Rs. 16.1 lakh crore) and HDFC Bank (Rs. 14.2 lakh crore).

"India's most valuable companies in the 2024 Burgundy Private Hurun India 500 have a cumulative value of US$ 3.8 trillion (Rs. 324 lakh crore, up 40%), which is higher than the GDP of India…," the newly released fourth edition of the report highlighted. Moreover, a record of 82 new companies featured on the list. 

Motilal Oswal Financial Services emerged as the fastest-growing company with a remarkable year-on-year (Y-o-Y) value growth of 297%. Inox Wind and Zepto have also nearly tripled their valuation over the year.

Zepto is also featured as the youngest company in the list, while P N G Jewellers is the oldest at 192 years old.

The companies, featured in the list, collectively employ 8.4 million individuals and pay Rs 2.2 lakh crore in taxes, Amitabh Chaudhry, Managing Director and Chief Executive Officer, Axis Bank, said.