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In the third edition of the India’s Top 200 Self-made Entrepreneurs of the Millennia 2025 list by IDFC FIRST Private Banking and Hurun India, Deepinder Goyal, CEO of Zomato and District parent Eternal, topped the rankings, overtaking veteran investor and DMart parent Avenue Supermarts’ founder Radhakishan Damani, highlighted the trend of tech-based service offerings platform founders rising up the rankings and joining legacy companies in value creation reflected in their market capitalisation.
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The top 200 self made entrepreneurs of Millenia 2025 saw their combined valuation rise to Rs 42 lakh crore from Rs 36 lakh crore earlier. Their combined business value stands at $469 billion, one-fourth the value of India’s top 300 most valued businesses, said Anas Rahman Junaid, founder and chief Researcher, Hurun India. This was “despite being founded within the last 25 years compared to the latter’s 73-year average age,” he said.
The rankings, based on company market capitalisation, show that aviation entrepreneurs Rahul Bhatia and Rakesh Gangwal of IndiGo ranked third on the list with a market cap of Rs 2.19 lakh crore.
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Max Healthcare’s Abhay Soi was ranked fourth on the list with a Rs 1.10 lakh crore market cap, followed by Swiggy’s Sriharsha Majety and Nandan Reddy at Rs 1.06 lakh crore, rounding the top five.
Deep Kalra and Rajesh Magow of travel booking platform MakeMyTrip (Rs 94,500 crore), Yashish Dahiya and Alok Bansal of insuretech platform Policybazaar (Rs 80,300 crore), Vijay Shekhar Sharma of payments firm Paytm (Rs 72,900 crore), Falguni Nayar and Adwaita Nayar of Beauty tech company Nykaa (Rs 67,500 crore) and Peyush Bansal, Amit Chaudhary, Neha Bansal and Sumeet Kapahi of eyewear seller Lenskart (Rs 67,000 crore) rounded up the top 10.
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Among the top 10 ranked self-made entrepreneurs, six saw their companies being listed on the exchanges after the Covid-19 pandemic. “Five companies founded post-2020 are now collectively valued at Rs 78,000 crore,” said Hurun List founder Rahman Junaid.
Sectorwise, entrepreneurs who founded financial services companies dominated the list with 47 firms, followed by software and services (28) and healthcare (27).
In terms of age, while e-tailer Zepto’s founders Kaivalya Vohra (22 years) and Aadit Palicha (23 years) were the youngest self-made entrepreneurs on the list, followed by payments company BharatPe’s Shashwat Nakrani, 82-year-old Ashok Soota of IT services company Happiest Mind Technologies was the most experienced self-made entrepreneur on the list followed by Star Health and Allied Insurance Company’s V Jagannathan (80 years) and hospital chain operator Medanta’s Naresh Trehan at 79 years.
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While IndiGo and Avenue Supermarts topped the list in terms of company revenue and profits, Eternal emerged as the biggest overall gainer on the list with a Rs 68,000 crore rise in valuation to Rs 3.20 lakh crore, followed by investment platform Groww whose valuation rose by Rs 37,000 crore to Rs 62,100 crore, according to the report.
While Nykaa duo Falguni and Adwaita Nayar topped the list of self-made women entrepreneurs, Lenskart’s Neha Bansal, Ruchi Kalra of B2B commerce platform OfBusiness (Rs 44,000 crore), and Kavitha Subramanian of investment platform Upstoxx (Rs 31,100 crore) rounded up the top five.
© The Indian Express Pvt Ltd
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