Serum Institute, led by Adar Poonawalla, tops India's unlisted companies

Serum Institute of India (SII), led by Adar Poonawalla, has emerged as India's most valuable unlisted company, according to the Burgundy Private Hurun India 500 list. The list showcases prominent companies such as Swiggy, BYJU'S, Razorpay, and Dream11.

With a valuation of Rs 1.92 lakh crore, the Pune-based Serum Institute experienced a 12.6% decline but surpassed the National Stock Exchange of India to claim the top spot as the most valuable unlisted company in India.

The healthcare industry boasts several major players, including Serum Institute, Sun Pharmaceutical Industries, Divi's Laboratories, Dr. Reddy's Laboratories, and Cipla.

The Burgundy Private Hurun India 500 report, compiled by Burgundy Private, Axis Bank's Private Banking Business, and Hurun India, features the 500 most valuable non-state-owned companies in India.

Following Serum Institute, the National Stock Exchange of India (NSE), led by Ashishkumar Chauhan, holds the second position with a value of Rs 1.65 lakh crore. Byju Raveendran's edtech company BYJU'S follows closely with a valuation of Rs 69,100 crore. Dream11, headed by Harsh Jain, secures the fourth spot with a value of Rs 65,800 crore, while Harshil Mathur's Razorpay is valued at Rs 61,700 crore. Swiggy, led by Sriharsha Majety, follows suit with a value of Rs 58,400 crore, and Nimish Chudgar's Intas Pharmaceuticals holds a value of Rs 58,000 crore. Other notable companies on the list include Megha Engineering and Infrastructure, Parle Products, and Mankind Pharma.

Reliance Industries Limited, led by Mukesh Ambani, takes the crown as the most valuable private sector company among the top 500, with a value of Rs 16.3 lakh crore. Tata Consultancy Services (TCS) secures the second position with Rs 11.8 lakh crore, and HDFC Bank follows closely with Rs 9.4 lakh crore.

Among the industrial groups, Tata Group stands out with 15 companies and a value of Rs 20,97,349 crore. It is followed by Adani Group with eight companies and a value of Rs 9,54,899 crore, and Aditya Birla Group with five companies and a value of Rs 2,75,286 crore. TCS, Adani Enterprises, and Grasim Industries emerge as the most valuable companies within their respective groups.

Anas Rahman Junaid, MD and Chief Researcher at Hurun India, noted that the featured companies experienced a modest decline of 6.4% in total value over the past six months, attributed to factors such as the Ukraine war, an increase in lending rates, and a funding winter. Junaid emphasized that out of the 500 companies, 287 witnessed a decline in total value, 14 remained flat, and 24 dropped off the list. The combined value of the top 10 companies remained steady at Rs 71.4 lakh crore, representing a significant portion of India's GDP.