Radhakishan Damani, the founder of Tuesdayretained the top position in IDFC First Private & Hurun India’s Top 200 Self-Made Entrepreneurs of the Millenia 2024, with a valuation of Rs 3.4 lakh crore, marking a growth of 44%. Closely following Deepinder Goyal’s Zomatowith a valuation exceeding Rs 2.5 billion and has seen a remarkable increase of 190%. The founders of SwiggySriharsha Majety and Nandan Reddy, secured the third place. Rising demand for fast commerce among Indian consumers has propelled these entrepreneurs to the top of the list.

Non-unicorn companies featured in the top ten rankings include Avenue Supermarts, Zomato, Max Healthcare Institute, Makemytrip, Policy Bazaar and Nykaa. Notably, three of the top ten companies are based in Mumbai, Bangalore and Gurugram.

Fourth on the list are Deep Kalra and Rajesh Magow, co-founders of MakeMyTrip, with a valuation of Rs 99.3 billion. Founded in 2000 by Deep Kalra, MakeMyTrip initially focused on the US-India travel market, offering competitive products and services backed by robust technology and dedicated customer service. Rajesh Magow, Co-Founder and Group CEO, played a crucial role in key milestones such as the company’s listing on the NASDAQ in 2010, the merger with the Ibibo Group and leading MakeMyTrip’s successful post-pandemic recovery.

Abhay Soi, chairman and managing director of Max Healthcare Institute, is also ranked fourth with a valuation of Rs 96,100 Cr. His expertise led to securing funding from JP Morgan to establish Radiant Life Care, through which he transformed Dr BL Kapur Memorial Hospital in Delhi and Nanavati Hospital in Mumbai. In 2019, KKR-backed Radiant Life Care acquired a 49.7% stake in Max Healthcare from South Africa-based Life Healthcare.

Yashish Dahiya and Alok Bansal, the founders of Policybazaar, have made it to the top 10 this year with a valuation of Rs 78,600 Cr, representing a significant increase of 128% over the previous year. Its revenue has also seen a substantial increase of 36% during the same period. Founded in 2008, Policybazaar’s core mission is to improve transparency in the insurance industry by simplifying plan information, addressing mis-selling practices and reducing policy lapses.

Bhavit Sheth and Harsh Jain, the co-founders of Dream11, India’s first gaming unicorn, have jointly secured the seventh position in the IDFC FIRST Private and Hurun India’s Top 200 Self-made Entrepreneurs of the Millennium 2024 with a rating of Rs 66,500 Cr.

Zerodha founders Nithin Kamath and Nikhil Kamath ranked eighth in the list with a valuation of Rs 64,800 Cr. The main objective of the company is to democratize investment and trading in the stock market. Equipped with a background in commerce and finance, Nithin holds an engineering degree from NITK Surathkal. Nikhil Kamath, launched the ‘WTF Fund’ aimed at supporting young entrepreneurs below the age of 22 in sectors such as fashion, beauty and home.

Harshil Mathur and Shashank Kumar, the co-founders of Razorpay, have secured the ninth position with a valuation of Rs 62.4 billion. His entrepreneurial journey began in 2014, fueled by his observation of the challenges facing India’s online payments sector. Recognizing a critical problem that needed to be addressed, the duo embarked on a path that has fueled Razorpay’s growth along with India’s digital economy.

Falguni Nayar, the visionary behind Nykaa, has made her entry into the top ten this year with a valuation of Rs 56.6 billion, which is a remarkable 30% increase from the previous year. In 2012, she founded Nykaa, an e-commerce platform that offers a wide range of beauty products. Today, Nykaa boasts a diverse portfolio of over 1,000 brands, catering to a wide spectrum of beauty and wellness needs for both genders.

According to the report, 56 founders and 32 companies were recently added to the IDFC First Private & Hurun India list of top 200 self-made entrepreneurs of the millennium 2024. Also, there are 32 exits this year. There was a 15% increase in the number of billion-dollar companies founded by self-made millennial entrepreneurs, with a total of 121 such companies on the list. Three people on the list are worth INR 1 lakh crore or more, compared to two people last year.

The threshold for entry into the IDFC First Private & Hurun India list of Top 200 Self-Made Entrepreneurs of the Millennium 2024 has increased by 13% to Rs 3.4 billion.

The spectacular growth of the Indian stock market brought 12 new entrants to the market. Of these newcomers, 38% come from established publicly traded companies, while the remaining 18 are emerging from the startup sector. This trend indicates a potential thaw in the previously difficult startup funding environment.

The combined value of all companies on this list amounts to 36 billion rupees (431 billion US dollars), showing a significant increase of 20% compared to last year. This value is almost equivalent to the GDP of Maharashtra and exceeds the GDP of all other states in India.