The Burgundy Private Hurun India 500 has issued a list of the 500 most valuable companies that are headquartered in India. In the list, Government/ State-owned companies and subsidiaries of foreign companies are excluded.
The Burgundy Private Hurun India 500 – Special Report features some of the most valuable unlisted companies too. National Stock Exchange of India overtakes the Serum Institute of India to become the most valuable unlisted company in India.
National Stock Exchange of India is the most valuable unlisted company in India growing by 35.6% to INR 2,28,100 crore.
Burgundy Private Hurun India 500-Special Report Top 10 unlisted companies
| Rank | Company | Value (INR Cr) | Change (%) | Headquarters | CEO |
| 1 | National Stock Exchange of India | 2,28,100 | 35.6% | Mumbai | Vikram Limaye |
| 2 | Serum Institute of India | 1,75,000 | -4.6% | Pune | Adar Poonawalla |
| 3 | BYJU’S | 1,68,300 | 24.7% | Bengaluru | Byju Raveendran |
| 4 | Swiggy | 81,800 | 98.3% | Bengaluru | Sriharsha Majety |
| 5 | OYO | 73,400 | 4.1% | Gurugram | Ritesh Agarwal |
| 6 | Dream11 | 61,200 | 2.0% | Mumbai | Harsh Jain |
| 7 | Razorpay | 57,400 | 155.1% | Bengaluru | Harshil Mathur |
| 8 | Ola cabs | 55,800 | 148.0% | Bengaluru | Bhavish Aggarwal |
| 9 | Intas Pharmaceuticals | 53,300 | 0.0% | Ahmedabad | Nimish Chudgar |
| 10 | Parle Products | 49,800 | 93.0% | Mumbai | Vijay Kantilal Chauhan |
Methodology
For unlisted companies, Hurun Research’s valuation is based on a comparison with their listed equivalents using prevailing industry multiples such as Price to Earnings, Price to Sales, EV to sales, and EV to EBITDA.
About Hurun India
Hurun Report is a leading research, luxury publishing, and events group established in London in 1998 with a presence in India, China, France, the UK, USA, Australia, Japan, Canada, and Luxembourg. It is widely recognized world-over for its comprehensive evaluation of the wealthiest individuals across the globe. Hurun Report is the largest compiler of the rich list globally.
