Swara Baby Products Files for IPO, Parent FirstCry to Sell Shares
Swara Baby Products, a contract manufacturer of hygiene products and subsidiary of FirstCry's parent company, has filed its draft IPO papers with Indian regulators.
Swara Baby Products, a contract manufacturer specializing in disposable hygiene items, has submitted its Draft Red Herring Prospectus (DRHP) to the Securities and Exchange Board of India (SEBI), signaling its intention to go public.
The company plans to raise up to ₹1,000 crore (approximately $1.2 billion USD) through the IPO. This will consist of fresh issuance of shares worth ₹500 crore and an offer-for-sale (OFS) component of ₹500 crore. As part of the OFS, BrainBees, the holding company of Swara Baby Products and operator of the FirstCry omnichannel kidswear brand, intends to sell shares valued at up to ₹300 crore.
Proceeds from the fresh issue are earmarked for establishing a new manufacturing plant in Madhya Pradesh, repaying borrowings, investing in its subsidiaries Solis Hygiene, Swara Hygiene, and KAEHPL, and pursuing potential acquisitions. Swara Baby Products claimed in its filing to be India's largest hygiene contract manufacturer by value.
Founded in 2018, Swara Baby Products manufactures baby and adult diapers, sanitary napkins, and panty liners. The company reported a net profit of ₹95.6 crore for the fiscal year ending March 2026, on revenue of ₹1,163 crore.