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Hurun India 2025 top 10 listed self-made businesses: Eternal leads, IndiGo joins list

Published on 17/12/2025 03:16 PM

Deepinder Goyal’s Eternal leads the 2025 Hurun India ranking of listed self-made businesses, followed by Avenue Supermarts and InterGlobe Aviation, as companies across retail, fintech, healthcare and travel post strong public market valuations.Eternal Emergence: Eternal Ltd., the parent company of Zomato, was founded by Deepinder Goyal and Pankaj Chaddah in 2010. It operates as a technology-led consumer internet company focused on food delivery and quick commerce. Zomato was listed on the Indian stock exchanges in July 2021 following its IPO. In 2025, Eternal was valued at ₹3,20,700 crore, ranking first among self-made listed companies in the Hurun India 2025 report.Retail Scale: Avenue Supermarts Ltd., which operates the DMart retail chain, was founded by Radhakishan Damani and functions in the supermarket and hypermarket segment. The company was listed in March 2017 and has since expanded to over 300 stores across India. In 2025, its valuation stood at ₹2,97,800 crore, placing it second among India’s top self-made listed enterprises.Aviation Entry: InterGlobe Aviation Ltd., the parent company of IndiGo, was co-founded by Rahul Bhatia and Rakesh Gangwal. The airline was listed on the BSE and NSE in November 2015 following its IPO in October that year. By 2025, InterGlobe Aviation had a valuation of ₹2,19,300 crore, marking its first entry into the Hurun top 10 listed self-made companies.Healthcare Platform: Max Healthcare Institute Ltd. is a multi-speciality hospital network chaired by Abhay Soi. The company became publicly listed in August 2020 after a reverse merger, debuting on Indian stock exchanges. Operating more than 20 hospitals with over 5,000 beds, Max Healthcare recorded a valuation of ₹1,10,700 crore in 2025, reflecting sustained investor interest in large healthcare providers.Delivery Network: Swiggy, co-founded by Sriharsha Majety and Nandan Reddy, operates a consumer internet platform spanning food delivery and logistics. The company got listed on the Indian stock exchanges in November 2024. In the Hurun India 2025 ranking, Swiggy was valued at ₹1,06,100 crore, highlighting growing market confidence in platform-led logistics and urban consumption models.Travel Platform: MakeMyTrip Ltd., founded by Deep Kalra and Rajesh Magow, operates in online travel services covering flights, hotels, and holiday bookings. The company has been listed on the NASDAQ Global Market since August 2010. In 2025, MakeMyTrip was valued at ₹94,500 crore, maintaining its position among India’s leading self-made listed digital companies despite demand volatility in travel.Insurance Aggregator: Policybazaar, founded by Yashish Dahiya and Alok Bansal, operates an online insurance and financial services marketplace. The company was listed on the Indian stock exchanges in November 2021. In the 2025 Hurun ranking, Policybazaar achieved a valuation of ₹80,300 crore, underscoring the scale achieved by consumer-facing fintech platforms in insurance distribution.Payments Platform: One97 Communications Ltd., which operates Paytm, was founded by Vijay Shekhar Sharma and listed on the NSE and BSE in November 2021 through one of India’s largest IPOs at the time. In the 2025 Hurun India ranking, Paytm was valued at ₹72,900 crore, recording a 67 percent year-on-year increase and reflecting renewed investor confidence in digital payments infrastructure.Beauty Retail: Nykaa, founded by Falguni Nayar, was listed on the National Stock Exchange and Bombay Stock Exchange in November 2021. The company operates an omnichannel beauty, personal care, and fashion retail platform. In 2025, Nykaa reported a valuation of ₹67,500 crore, reinforcing its position as one of India’s most valuable consumer internet listings founded by self-made entrepreneurs.Pharma Manufacturing: Laurus Labs Ltd., founded by Satyanarayana Chava, is engaged in pharmaceutical formulations and active pharmaceutical ingredient manufacturing. The company completed its IPO in December 2016 and listed on 19 December 2016. In the 2025 Hurun India ranking, Laurus Labs was valued at ₹48,400 crore, reflecting growth driven by exports and demand for generic pharmaceutical products.NewsLive TVMarketPopular CategoriesCalculatorsTrending NowLet's Connect with CNBCTV 18Network 18 Group :©TV18 Broadcast Limited. All rights reserved.