19 · Unlisted Equity

19 · Unlisted Equity — Market Context

Source: SEBI · MCA · EY/Bain PE Reports · Industry · Specific ideas on page 17

Unlisted Equity Market Size (2026)

₹35 L Cr+

Derived from PE/VC + large unlisted valuations

Unlisted Cos w/ Transferable Shares

1000+

Listed Cos (NSE + BSE)

5,300+

Registered Companies (MCA)

13 L+

Key Market Drivers

① IPO Boom

India saw 70–80 mainboard IPOs in FY25, fuelling pre-listing demand.

② Unlisted Platforms

UnlistedArena, Planify, AltInvest now aggregate deals at scale.

③ Startup Growth

3,000+ DPIIT-recognized startups generate ESOP liquidity needs annually.

④ HNI Demand

UHNIs allocate 10–15% of equity portfolio to pre-IPO assets.

Looking for specific ideas?

The full list of curated unlisted opportunities — including Goodluck Defence & Aerospace, SBI AMC, Orbis Financial, PPFAS and ESDS — is on the next page.

View Unlisted Options →