The Indian financial market is witnessing a powerful shift in 2025, with unlisted shares emerging as an attractive alternative to traditional stock market investing. These pre-IPO stocks allow investors to tap into India's fastest-growing private companies before they go public.

Platforms like Unlisted Ideas make it easier for retail and HNI investors to access these hidden gems. This blog uncovers the top 10 high-demand unlisted shares in India, their current share prices, potential IPO status, and reasons why they’re catching serious investor attention.

1. Tata Capital Limited – The Next Big NBFC IPO

Tata Capital has become a front-runner among NBFCs with diversified offerings across personal loans, SME financing, and wealth management. It benefits from the trust of the Tata Group and consistent profitability across all business verticals.

Investors tracking the Tata Capital unlisted share price today will find it in the ₹495–₹510 range, reflecting growing demand ahead of its anticipated IPO. With over ₹1 lakh crore in assets under management and strong return ratios, Tata Capital is among the most secure and high-growth opportunities in the unlisted space.

Its expected listing in 2025 or early 2026 has triggered a bullish wave of activity, making it one of the most frequently traded assets on platforms like Unlisted Ideas.

2. Metropolitan Stock Exchange (MSEI) – A High-Risk, Low-Price Bet

Metropolitan Stock Exchange is SEBI-recognized and offers a fully functional trading platform for equities, debt, and currency derivatives. While it hasn’t captured significant market share yet, it remains an underdog with untapped potential.

The MSEI unlisted share price stands attractively between ₹1.30 and ₹1.60. This penny-stock territory has led value hunters and institutional investors to slowly accumulate shares, banking on a potential restructuring, merger, or even acquisition by a fintech or larger exchange in the future.

MSEI’s low float, government backing, and SEBI license keep it relevant even in 2025.

3. NSDL – The Digital Backbone of India’s Capital Market

NSDL (National Securities Depository Limited) is India’s oldest and largest depository. It manages over 3 crore demat accounts, ensuring the seamless settlement of trades and securities. With only two major players in the industry (NSDL and CDSL), NSDL has a virtual duopoly.

In 2025, the NSDL unlisted share price today fluctuates around ₹725–₹765. Investor interest has surged with its upcoming IPO expected in Q3 FY25. Given the depository’s consistent profitability and regulatory advantage, buying into NSDL before its listing is seen as a low-risk, long-term play.

4. NSE India Limited – India’s Most Valuable Exchange

The National Stock Exchange (NSE) dominates India’s equity and derivatives markets with a market share of over 90% in futures and options. Its tech-first infrastructure and revenue from data services, listing, and trading make it a cash-rich business.

The NSE unlisted share price currently lies between ₹3,750 and ₹3,950. With SEBI greenlighting innovative instruments like electricity futures, investor interest is at an all-time high. NSE’s IPO has been delayed due to regulatory reasons but remains highly anticipated.

Market analysts recommend accumulating NSE shares through trusted channels like Unlisted Ideas before public valuations drive prices up.

5. Nayara Energy – A Strategic Energy Infrastructure Player

Nayara Energy, previously Essar Oil, operates one of India’s most advanced refineries in Vadinar, Gujarat. With backing from Rosneft and Trafigura, the company is expanding into petrochemicals and retail energy.

Currently, the Nayara Energy unlisted share price ranges from ₹165 to ₹185. As energy demands increase and private refining capacity becomes more strategic, Nayara is considered a long-term bet by institutional investors.

The company's expansion into high-margin petrochemical products and B2B fuel retailing provides a strong runway for valuation re-rating in the coming quarters.

6. API Holdings (PharmEasy) – The Revival Story of Healthtech

API Holdings, the parent of PharmEasy, has recalibrated its model after pulling back from its IPO plans in 2022. With cost optimizations, streamlined logistics, and improved EBITDA margins, the company is once again on the radar of smart investors.

The API Holdings unlisted share price currently trades between ₹50 and ₹58. With digital health seeing renewed adoption and PharmEasy consolidating its supply chain, investors are buying with hopes of a listing in FY26.

The healthtech sector's resilience and increasing policy support make API Holdings an early-mover opportunity in India’s $50B+ healthcare market.

7. OYO Ltd – Structured for a Comeback

OYO has evolved from aggressive expansion to a lean, technology-driven hotel franchising model. Its asset-light approach and entry into co-working and long-term stays have revived investor confidence.

In 2025, the OYO unlisted share price is between ₹38 and ₹45. Despite its controversial past, its improving EBITDA and stabilizing occupancy rates make it an interesting high-risk, high-reward pre-IPO bet.

With a fresh IPO expected in 2026 and a focus on profitability over blitz-scaling, OYO could be in the early stages of a well-managed turnaround.

8. SBI Funds Management (SBI Mutual Fund) – India’s Top AMC

SBI MF, a joint venture between SBI and Amundi, is the largest asset manager in India by AUM. Its dominance in SIPs, retail investing, and passive products gives it a strong competitive moat.

The SBI MF unlisted share price trades around ₹1,000–₹1,150. With India’s mutual fund industry expected to double by 2030, this company offers a reliable way to ride the financialization wave.

Investors on Unlisted Ideas prefer SBI MF due to its consistent profitability, robust dividend track record, and anticipated IPO in the medium term.

9. SBI General Insurance – Core Insurance Growth Backed by SBI

As part of SBI’s growing insurance vertical, SBI General Insurance is among the top private general insurers in India. It serves both retail and corporate clients with a diversified product suite.

The SBI General Insurance unlisted share price lies in the ₹120–₹135 range. The insurance sector in India is underpenetrated, offering room for exponential growth. This makes SBI GI a valuable portfolio addition for those eyeing long-term compounders.

With favorable demographics and rising awareness, this stock is drawing increasing investor interest.

10. HDFC Securities – The Brokerage with Trust & Scale

HDFC Securities stands tall as one of India’s premier brokerage platforms. Its backing by HDFC Bank gives it unmatched distribution, and its tech innovations are expanding its millennial customer base.

In June 2025, the HDFC Securities unlisted share price is ₹11,200–₹11,800. Investors expect a re-rating post the HDFC-HDFC Bank merger, with synergies yet to be fully priced in.

As India’s capital markets grow, full-service brokers like HDFC Securities will command premium valuations, making this a long-term favorite.

Why Use Unlisted Ideas for Buying Unlisted Shares?

SEBI-compliant transactions
Verified shareholding documents
Transparent pricing and no hidden markups
Dedicated relationship managers for HNI and retail investors
Access to pre-IPO insights, share prices, and expert reviews

Frequently Asked Questions (FAQs)

Q1: What are unlisted shares, and how are they different from listed stocks?

Unlisted shares are equity shares of companies not listed on public stock exchanges. They are traded privately and often at negotiated prices.

Q2: Is it legal to buy unlisted shares in India?

Yes. Platforms like Unlisted Ideas operate under SEBI guidelines and offer legally compliant transactions for both retail and institutional buyers.

Q3: Can I sell unlisted shares anytime?

Yes, liquidity varies by stock. Blue-chip unlisted shares (like NSE, Tata Capital) usually have strong buyer interest. Unlisted Ideas also facilitates quick exits.

Q4: What are the tax implications of selling unlisted shares?

Long-term capital gains (after 24 months) are taxed at 20% with indexation. Short-term gains are taxed as per your income slab.

Q5: How do I track unlisted share prices?

You can follow real-time pricing, demand, and updates on UnlistedIdeas.com, which provides verified, updated price insights for over 150+ private companies.

Final Thoughts

Investing in unlisted shares in India has matured into a powerful wealth-building tool, especially in 2025. With pre-IPO opportunities across fintech, energy, NBFCs, and digital health, this space offers early access to India's economic growth story.

At Unlisted Ideas, we offer trusted access, expert analysis, and transparent pricing so you can build your pre-IPO portfolio confidently. Start exploring today, and ride the wave before these companies list!

Top 10 High Demand Unlisted Shares in India Right Now (2025 Guide)