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Hurun India 500: NSE retains India’s most valuable unlisted company tag, ahead of Serum Institute, Adani Properties - The Times of India

The National Stock Exchange (NSE) has retained its position as India’s most valuable unlisted company, with a valuation of Rs 4.86 lakh crore, according to the 2025 Burgundy Private Hurun India 500 report. The exchange continues to top the ranking of unlisted firms, staying ahead of Serum Institute of India and Adani Properties, reflecting sustained investor confidence in its business model and growth prospects.

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