Even before the IPO of the National Stock Exchange, it has planted its flag not only in the country but in the entire world. The company has left behind the giants and has taken the tag of number 1 company in the country. In fact, according to the '2025 Burgundy Private Hurun India 500 report, National Stock Exchange (NSE) has become India's most valuable non-listed company with a valuation of Rs 4.86 lakh crore. The country's largest stock exchange remained at the forefront in the ranking of non-listed companies. It has left behind vaccine manufacturing company Serum Institute of India and real estate company Adani Properties. This reflects investor confidence in the business model and growth prospects of the stock market.
The Hurun report by Axis Bank's private banking businesses 'Burgundy Private' and 'Hurun India' states that many consumer, fintech (financial technology) and renewable energy companies also feature prominently among the country's most valuable non-listed companies. Food manufacturing company 'Haldiram', fintech company 'Razorpay' and renewable energy company 'Greenco' are among the major unlisted companies that have made it to the ranking. This excellent performance of non-listed companies has happened at a time when investors are giving higher valuations to companies with a strong position in the market even before they are listed.
The National Stock Exchange has got the status of the most valuable non-listed company at a time when the stock exchange has filed preliminary documents for its much-awaited IPO (Initial Public Offering) with the market regulator SEBI last week. Its estimated value is around Rs 30,000 crore and this share sale is on track to become the largest public offering in the history of the Indian stock market. Apart from this, the report said that the total valuation of Indian companies has exceeded 3,400 billion dollars and its 500 companies together have reached the level of the major economies of the world.
