Hardeep Singh
Introduction
Do you regularly invest in shares and wonder which shares to buy in India? If you have been investing in listed shares till now, did you know there is also an option to invest in unlisted shares?
Unlisted shares or pre IPO shares are the shares of a company that are not listed or traded on any recognised stock exchange. In India, people often overlook the enormous potential that exists in unlisted shares. Although a few well-known companies dominate India’s unlisted market landscape, there is a great opportunity to invest in unlisted shares.
These unlisted companies, ranging from financial powerhouses to healthcare giants and aviation titans, have incredible growth potential. Purchasing unlisted shares provides a special chance to be involved in a company’s development before it goes public.
Many unlisted companies are promising healthy returns in 2025. Here is a list of the top 6 pre IPO companies in India that you should invest in:
1. Oyo
Oyo is one of the leading international hotel chains. It has more than 1,57,000 hotels and homes in around 35 countries globally, including India, UAE, Indonesia, etc. Oyo has also recently expanded its operations in Europe and the USA.
Since the beginning, the company has concentrated on addressing the main issues faced by its customers and its patrons (hotel owners, financers, etc.) and finding solutions to ensure a seamless experience for all.
Oyo’s unique business model helps owners of unbranded and unrecognised hotels turn their properties into branded ones. This increases their earnings and provides customers access to good quality accommodation and better experiences.
Take a look at the company financials and why it is a good idea to invest in Oyo’s unlisted shares:
- The company’s consolidated adjusted EBITDA increased by around 316% from INR 2,777.42 million in FY23 to INR 8,772.03 million in FY‘24,
- Despite a significant increase in new inventory, the adjusted gross profit margin held steady at 23.6% in FY24 (compared to 23.2% in FY23).
2. Chennai Super Kings
If you are a Dhoni fan, you will not need any further motivation! Chennai Super Kings Cricket Limited was founded as an India Cements subsidiary. Here are a few reasons why the unlisted shares of Chennai Super Kings are worth considering:
- With a $231 million brand value, the Chennai Super Kings (CSK) are now the most valuable franchise, up 9% from the previous year.
- The Profit After Tax (PAT) for FY24 increased 13 times to INR 201.
3. Orbis Financial Corporation Limited
Orbis Financial Corporation Limited was established in 2005 and quickly became famous. It was registered as a clearing member with the Securities and Exchange Board of India (SEBI) for all of the nation’s market segments.
It is one of the most prominent unlisted shares companies specialising in financial securities. Here are a few facts about the company’s financials:
- In FY23, the company’s net worth increased from INR 223 Cr to INR 429 Cr.
- The Earnings per Share (EPS) increased from INR 5.41 in FY22 to INR 8.94 in FY23.
- Asset Under Custody (AUC) increased from INR 67,369 Cr in FY22 to INR 81,160 Cr in FY23.
4. Apollo Green Energy Ltd (AGEL)
Apollo Green Energy supports our nation’s drive for sustainable energy by concentrating on renewable energy solutions. It has undertaken many innovative projects and focuses more on solar and waste-to-energy plants in the green sector. With the green sector and the country also moving towards sustainable infrastructure, investing in AGEL can be promising.
- AGEL has multiple multi-crore solar energy projects in Bihar (INR 390 crore) and Gujarat (INR 966 crore).
- The company’s face value is INR 10, and its book value is INR 199 per share.
5. HDB Financial Services Limited
HDB Financial Services Limited is a non-banking financial company and a subsidiary of HDFC Bank. It offers a wide range of products and services, such as digital products, consumer loans, BPO services, lending and collection services, etc. It has around 1500 branches in 24 states in India.
In the past two years:
- HDB Financial’s revenue has increased at a compound annual growth rate (CAGR) of 7.1%.
- EPS has increased at a CAGR of 51%.
- Net profit has increased at a CAGR of 51%
6. Tata Capital
Tata Capital is a well-known financial services company and a subsidiary of the Tata Group. It offers many services, such as wealth management, consumer finance, asset management, and investment banking. With a solid understanding of the Indian market, Tata Capital is committed to providing creative and customised financial solutions. It serves corporate clients, small and medium-sized businesses (SMEs), and individuals, assisting them in realising their financial ambitions.
In the past three years:
- The revenue has grown at a 10.6% CAGR.
- On a year-over-year basis, earnings per share have increased by 63%.
- On a year-over-year basis, net profit has grown by 63.6%.
Conclusion
Just 4% of Indians make regular stock market investments, and even fewer are aware of unlisted shares. By investing early in the company’s unlisted pre-IPO shares, you have the opportunity to increase your returns after a company is formally listed on the stock exchange (NSE/BSE).
The companies discussed above represent some of the most promising unlisted opportunities in India. You can enhance your portfolio and earnings by knowing the advantages of investing in unlisted shares and keeping track of market developments. Always research well before investing so you make a well-informed decision.
