Top Unlisted Shares to Watch in 2026

08 January 2026

Some of India’s most interesting value creation stories are unfolding in 2026 beyond traditional avenues to unlisted shares, a select group of unlisted leaders are building scale, improving profitability, and preparing for eventual listings, quietly compounding away from daily market noise.

OYO: OYO is shifting from hyper-growth to profit discipline, with improving EBITDA, debt reduction, and better hotel occupancy  turning a crisis-era brand into a credible turnaround story on investor watchlists.

SBI Mutual Fund: SBI Mutual Fund, India’s largest AMC by AUM, is preparing for listing signalling monetisation of a powerful brand, sticky fee income, and a long-duration compounding business linked directly to rising financialization of savings.

Onix: Onix operates in premium consumer electronics with a strong retail network; it benefits from import substitution, the domestic manufacturing push, and rising discretionary consumption among India’s urban households.

Orbis: Orbis is positioned in security and surveillance solutions, riding structural demand from smart cities, logistics hubs, government infrastructure and corporate risk management, a space expanding quietly but rapidly.

Hero FinCorp: Hero FinCorp, backed by the Hero group, is gaining from a reviving credit cycle; used-vehicle finance, retail loans, and MSME lending give it operating leverage as growth and collections improve.

Chennai Super Kings (CSK): CSK’s valuation is driven by media rights, sponsorship monetisation, fan IP, and league expansion sports franchises are evolving into serious financial assets instead of passion projects.

Insolare Energy: Insolare Energy is directly aligned to India’s renewable push; solar EPC, modules, grid upgrades and PLI-linked manufacturing place it at the heart of the nation’s energy-transition capex cycle.

NSE: India’s largest stock exchange by turnover; benefits from rising retail participation, derivatives depth, and formalization of savings into capital markets.

NCDEX: leading Agri-commodity exchange; positioned to gain from inflation hedging demand, warehousing reforms, and institutionalization of commodity price discovery.