Introduction In April 2026, several unlisted companies across infrastructure-heavy and capital-intensive sectors raised significant debt to fund expansion, project execution, and operational scale-up. The borrowing activity reflects continued momentum in sectors such as metals, real estate, renewable energy, and mobility, where large upfront investments and long gestation periods necessitate substantial financing. Top 10 Unlisted Companies…
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Overview Royal Challengers Sports Private Limited (RCSPL), the entity associated with the Royal Challengers Bengaluru (RCB) franchise, has undergone a multi-phase ownership and value creation journey over nearly two decades. What began as an early IPL-era sports investment under United Spirits Limited (USL) evolved into a high-value franchise asset that ultimately changed hands in a…
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Introduction India is the world’s largest milk producer, with dairy forming a critical part of the country’s agricultural and food economy. While cooperative giants such as Amul and Mother Dairy dominate public perception, a large and rapidly growing segment of the industry consists of privately held, unlisted dairy companies. These firms operate across procurement, processing,…
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Two Giants. Two Playbooks. One Expanding Market. ⚡ The Energy Boom: How India’s Performance Beverage Market Is Taking Shape India’s energy drink market has evolved from a niche, metro-focused segment into a fast-growing urban lifestyle category. What once catered primarily to nightlife and gym-goers now fuels college campuses, corporate offices, gaming communities, and Tier 2…
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A comprehensive analysis of 39 startups founded by former Razorpay employees How Razorpay Became a Founder Factory Razorpay has emerged as more than just a fintech unicorn, it has become a breeding ground for operator-led founders. Over the past few years, early employees and operators have spun out to create their own ventures, collectively forming…
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Introduction India’s unlisted corporate sector entered 2026 with sustained momentum in institutional borrowing. January witnessed sizeable debt raises across financial services, power, infrastructure, and construction, underscoring continued lender confidence in asset-backed and cash-generating private companies. As public market volatility persists and equity fundraising remains selective, debt has emerged as a key growth and refinancing tool…
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Introduction This report analyses Peak XV Partners’ (formerly Sequoia India & SEA) investments in Indian unlisted companies that went on to list between 2020 and 2025. It tracks each portfolio company’s journey from first institutional investment to IPO, focusing on capital deployed, exits achieved, and return multiples measured up to the IPO date. About the…
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Introduction India’s company incorporation landscape witnessed a broad-based expansion between 2024 and 2025, reflecting renewed entrepreneurial confidence and improving ease of doing business across states and Union Territories. While large industrial states continued to add the highest absolute number of companies, several smaller states and UTs emerged as high-growth regions, signalling a widening geographic spread…
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India Startup Funding Snapshot – December 2025 India’s startup ecosystem closed December 2025 with ₹6,779.49 crore raised across 71 deals, reflecting steady investor confidence despite selective capital deployment. Funding activity was anchored by large, late-stage and strategic rounds across energy, healthcare devices, EVs, fintech, and deep-tech. While deal volumes stayed consistent, capital was clearly concentrated…
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Introduction: Robotics, IoT & Smart Manufacturing India’s manufacturing sector is undergoing a structural transformation driven by Robotics, Industrial IoT (IIoT), AI, and smart manufacturing platforms. What was once labour-intensive and cost-driven is now becoming data-led, automated, and outcome-oriented. Robotics enables precision, speed, and consistency on the shop floor. IoT connects machines, sensors, and systems to…
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