Led by Serum Institute of India, some of India's most valuable companies have chosen to remain bootstrapped or grown without taking external funding. Bootstrapped companies are dominated by traditional, non-tech industries such as pharmaceuticals and FMCG. Here is a list of India's top 10 bootstrapped companies in the 2022 according to Burgundy Private Hurun India 500:
ETMarkets.com
2/11
Serum Institute of India
Billionaire ‘vaccine king’ Cyrus Poonawala led Serum Institute is a biotechnology and biopharmaceuticals company, based in Pune. The valuation of the company increased 19.8% YoY to Rs 2,19,700 crore.
ETMarkets.com
3/11
Parle Products
Food processing company Parle Products’ valuation surged by 142.6% YoY to Rs 62,600 crore.
ETMarkets.com
4/11
Mankind Pharma
The valuation of Pharmaceutical company Mankind Pharma increased 33.7% YoY to Rs 49,600.
ETMarkets.com
5/11
Zoho Corporation
Founded in 1996, Zoho is a SaaS (software-as-a-service) company. The valuation of Zoho increased 32.9% YoY to Rs 48,900 crore.
ETMarkets.com
6/11
Macleods Pharmaceuticals
The valuation of Macleods Pharmaceuticals declined 21.5% YoY to Rs 43,200 crore.
ETMarkets.com
7/11
Zerodha
Nithin Kamath led stock broking company Zerodha’s valuation decreased 14.2% YoY to Rs 29,700 crore amid the turmoil in the equity market in 2022.
ETMarkets.com
8/11
Amalgamations
Conglomerate Amalgamations Group is involved in auto-related manufacturing activities, trading & distribution, plantations and other businesses. The valuation of Amalgamations rose 15.5% to Rs 29,000 crore.
Agencies
9/11
Patanjali Ayurved
Baba Ramdev led Patanjali Ayurved’s valuation declined 1.8% to Rs 27,500 crore.
PTI
10/11
Megha Engineering and Infrastructure
Megha Engineering and Infrastructure is a major infrastructure company headquartered in Hyderabad. The valuation of the company decreased 20.1% YoY to Rs 26,700 crore.
PTI
11/11
Hetero Labs
Pharmaceutical company Hetero Labs’ valuation rose 7.6% YoY to Rs 24,000 crore.
