Serum Institute Of India Tops India's Lists Of 10 Most Valued Unlisted & Bootstrapped Companies Of 2022

Billionaire Adar Poonawalla-led Serum Institute of India, the maker of Covishield vaccine, has been crowned as India's most valued privately held company as well as a bootstrapped company, with its market value estimated at Rs 2,19,700 crore. It has topped the lists in the Axis Bank Burgundy Private Hurun India 500 list for 2022.

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, EV to EBITDA. Other methodologies such as Discounted Cash Flow and Tobin¡¯s Q are also used. In certain cases of early-stage companies, Hurun used the First Chicago Method for valuation. Financial information used is from the latest available annual reports or audited financial statements.

List Of Most Valued Unlisted Firms

Here's the full list of the 10 most valuable unlisted companies in India for 2022:

1.Serum Institute of India

livelaw

Rs 2,19,700 Crore

CEO-Adar Poonawalla

2.Byju¡¯s

bccl

Rs 1,82,200 Crore

CEO-Byju Raveendran

3.National Stock Exchange

livemint

Rs 1,39,300 Crore

CEO- Ashishkumar Chauhan

4.Swiggy

Shutterstock

Rs 88,600 Crore

CEO-Sriharsha Majety

5.Oyo

oyorooms

Rs 77,800 Crore

CEO-Ritesh Agarwal

Also Read: Salary Of OYO's CEO Jumps 250% In FY22

6. Dream11

AFP

Rs 66,200 Crore

CEO-Harsh Jain

7.Parle Products

parle

Rs 62,600 Crore

CEO-Vijay Kantilal Chauhan

Also Read: The Story Of Parle-G

8.Razorpay

TechStory

Rs 62,100 Crore

CEO-Harshil Mathur

9.Ola

shutterstock

Rs 60,500 Crore

CEO-Bhavish Aggarwal

10.Intas Pharmaceuticals

ET

Rs 59,300 Crore

CEO-Nimish Chudgar

Also Read: 15 Commonly Used Startup Terms

Pharma Firms Dominate Bootstrapped Companies' List

Besides these most valued unlisted companies, Serum Institute also tops the list of most valued bootstrapped companies. Bootstrapped companies are those which have grown without taking external funding.

As per the list, bootstrapped companies are dominated by traditional, non-tech industries such as pharmaceuticals, FMCG etc.

1.Serum Institute of India

Rs 2,19,700 Crore

2.Parle Products

Rs 62,600 Crore

3.Mankind Pharma

Rs 49,600 Crore

4.Zoho Corporation

Rs 48,900 Crore

5. Macleods Pharmaceuticals

Rs 43,200 Crore

6.Zerodha

Rs 29,700 Crore

7.Amalgamations Group

Rs 29,000 Crore

8.Patanjali Ayurveda

Rs 27,500 Crore

9.Megha Engineering and Infrastructure

Rs 26,700 Crore

10. Hetero Labs

Rs 24,000 Crore

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