A recent survey by the Indian Texpreneurs Federation (ITF) indicates, around 40 textile and apparel companies in Tamil Nadu plan to launch IPOs to list their shares in Indian equity markets. Off 257 member companies surveyed by the federation, 16 per cent said, they are keen for IPO; 30 per cent hoped to double sales in 3 years’ with a 25 per cent CAGR, while 18 per cent said, they will double their current sales in 4 years with a 20 per cent CAGR.

Around 36 per cent entrepreneurs hoped to double their yarn sales in 5 years’ time with 15per cent CAGR. The survey also highlighted that Tamil Nadu’s textile and apparel industry bets on growth with a focus on value addition.

Prabhu Dhamodharan, Convenor, ITF, Coimbatore informed that in total, 76 per cent of the surveyed firms mentioned about doubling the current site of business in 3 to 5 years with new capex cycle.

Within the sub segments of textile manufacturing, home textiles, weaving and apparel segments are showing better momentum in terms of growth. This trend will help Tamil Nadu textile sector to further strengthen the value-added product manufacturing, he added