Hurun List 2024: IPO-bound NSE’s valuation jumps 200% to ₹4.7 lakh crore to become India’s 10th most valued company

Hurun List 2024: The National Stock Exchange (NSE), India's largest equity bourse, reported a massive surge of over 200 per cent in its valuation to ₹4.7 lakh crore, ahead of its initial public offering (IPO) plans. According to 2024 Burgandy Private Hurun India's list released on Tuesday, IPO-bound NSE is reported to have restarted its listing process by applying for a no-objection from capital markets regulator Securities and Exchange Board of India (SEBI).

According to Axis Bank's banking unit Burgundy Private and Hurun India, NSE has emerged as the country's 10th most valuable private company. The Hurun Rich List released in September pegged NSE's valuation at ₹3.12 lakh crore. According to reports, NSE, which also runs the world's largest derivatives exchange, aims to sell 10 per cent of its holdings in the upcoming public issue.

Also Read: Hurun List 2024: Reliance, TCS, Infosys, HDFC Bank among India’s top 10 most valuable companies

Hurun List 2024: NSE becomes India's most valuable unlisted company

According to the Hurun List 2024, NSE also emerged as India’s most valued unlisted company. Startups in the Hurun India List 2024 collectively registered a net increase of ₹1,09,259 crore in 2024, led by Zepto, OYO, and Zerodha.

IPO-bound NSE's overall revenues jumped 28 per cent to ₹16,352 crore in FY24, and the post-tax profit surged 51 per cent to ₹8,306 crore. The stock exchange moved on the listing plans after getting some clarity from the market watchdog over the allegations of not allowing equitable access to its members.

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Reliance Industries topped the 2024 Burgandy Private Hurun India's list of the 10 most valuable private companies in India, followed by the IT giant Tata Consultancy Services (TCS) and HDFC Bank in second and third place, respectively. The combined market valuation of these top 10 companies was greater than Saudi Arabia’s gross domestic product (GDP).

According to Hurun List 2024, India's top 500 companies have a cumulative value of ₹324 lakh crore, up 40 per cent, which is higher than India's GDP and the combined GDPs of UAE, Indonesia, and Spain. These companies outperformed the domestic benchmarks, the BSE Sensex and the NSE Nifty 50, which grew by 27 per cent and 30 per cent, respectively, during the same period.

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