Adar Poonawalla-led Serum Institute is India’s most valuable unlisted company: Burgundy Private Hurun

Adar Poonawalla-helmed Serum Institute of India (SII), one of the first few companies to launch COVID-19 vaccines in India, is India’s most valuable unlisted company, according to the Burgundy Private Hurun India 500 list. The list also includes companies such as Swiggy, BYJU’S, Razorpay and Dream11. 

The Pune-headquartered Serum Institute, valued at Rs 1.92 lakh crore, saw a decline of 12.6 per cent. Serum Institute of India overtook National Stock Exchange of India to become the most valuable unlisted company in India, as per the list. 

Serum Institute is also one of the biggest companies in the healthcare industry, along with Sun Pharmaceutical Industries, Divi's Laboratories, Dr. Reddy's Laboratories, and Cipla.  

Burgundy Private, Axis Bank’s Private Banking Business and Hurun India’s‘ Burgundy Private Hurun India 500-Special Report’ is a list of the 500 most valuable non-state-owned companies in India. 

Following Serum in the most valuable unlisted company was Ashishkumar Chauhan-led National Stock Exchange of India (NSE) with a value of Rs 1.65 lakh crore, followed by Byju Raveendran’s edtech company BYJU’S with a value of Rs 69,100 crore. 

Harsh Jain-headed Dream11 is in the fourth spot with a value of Rs 65,800 crore, followed by Harshil Mathur’s Razorpay, valued at Rs 61,700 crore. 

Sriharsha Majety’s food delivery platform Swiggy follows suit with a value of Rs 58,400 crore, followed by Nimish Chudgar’s Intas Pharmaceuticals with a value of Rs 58,000 crore, PV Krishna Reddy’s Megha Engineering and Infrastructure with a value of Rs 54,500 crore, Vijay Kantilal Chauhan’s Parle Products with a value of Rs 54,300 crore, and Rajeev Juneja’s Mankind Pharma, valued at Rs 53,438 crore. 

The list also stated that Mukesh Ambani-led Reliance Industries Limited is the most valuable private sector company among the top 500 companies in India, with a value of Rs 16.3 lakh crore, followed by Tata Consultancy Services (TCS) with Rs 11.8 lakh crore and HDFC Bank with Rs 9.4 lakh crore.

Tata Group with 15 companies and a value of Rs 20,97,349 crore is the biggest industrial group, 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 are the most valuable companies of these groups respectively. 

Anas Rahman Junaid MD and Chief Researcher, Hurun India said that the the companies featured  in the list experienced a modest decline of 6.4 per cent over the past six months due to a combination of factors including the Ukraine war, increase in key lending rates and a funding winter. “Of the 500 companies, 287 experienced a decline in total value, while 14 remained flat, and 24 dropped out of the list. The combined value of the top 10 companies remained flat at Rs 71.4 lakh crore, representing a significant portion of India's GDP,” said Junaid.

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