Meenakshi India targets June BSE direct listing as US tariffs squeeze ₹190-cr export book
Chennai-based apparel maker for Nordstrom, GANT and Marc O'Polo plans a no-dilution BSE debut in June. With 99%+ exports and FY25 revenue at ₹190 cr, promoters (71%) project FY27 at ₹176 cr amid US tariff drag, while pivoting to Odisha/Nepal capacity and D2C menswear label SHORTSTOP.
What happened
Meenakshi (India) Ltd · Chennai-based apparel exporter Meenakshi India plans a June direct listing on BSE without fresh capital or dilution. The ₹190-cr
Key facts
- 71% promoter stake
- FY25 revenue ₹190 cr
- FY27 projected ₹176 cr
- 99%+ exports
- 1,000 machines
- 70% capacity utilisation
Why this matters
Meenakshi's marquee client roster (Nordstrom, GANT, Marc O'Polo) and emerging Nepal/Odisha footprint make it a credible tuck-in for a larger apparel exporter seeking tariff arbitrage and Western brand relationships at a depressed valuation.