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  5. FirstCry-backed Swara Baby to file DRHP with SEBI for ₹1,000 crore IPO in June: Report

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FirstCry-backed Swara Baby to file DRHP with SEBI for ₹1,000 crore IPO in June: Report

Journalist Kamal Joshi, former Republic TV and latestly editor, now associated with Upstox
By Kamal Joshi

2 min read | Updated on June 09, 2026, 12:57 IST

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SUMMARY

Swara Baby Products may raise up to ₹1,000 crore. The proposed initial public offering is likely to consist of a fresh issuance of shares as well as an offer for sale (OFS) by existing shareholders, the report said.

Swara Baby, which is led by Alok Birla, manufactures baby diapers, adult diapers and feminine hygiene products.

Swara Baby, which is led by Alok Birla, manufactures baby diapers, adult diapers and feminine hygiene products. | Image: swarababy.com

Swara Baby Products, a leading diaper manufacturer backed by FirstCry, is expected to file its draft red herring prospectus (DRHP) with markets regulator Securities and Exchange Board of India this month, news agency PTI reported, quoting people familiar with the development.
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The company may raise up to ₹1,000 crore. The proposed initial public offering is likely to consist of a fresh issuance of shares as well as an offer for sale (OFS) by existing shareholders, the report said.

Avendus Capital and JM Financial are the issue's book-running lead managers.

Emails sent by PTI to the company and the investment bankers regarding the IPO did not elicit any response.

Swara Baby, which is led by Alok Birla, manufactures baby diapers, adult diapers and feminine hygiene products.

Along with Birla, FirstCry's parent Brainbees Solutions Ltd is among the promoters of the company.

Set up as a single-product company in 2021, Swara Baby Products has expanded its portfolio to seven product categories, including baby tape-style diapers, baby pant-style diapers, adult tape-style diapers, adult pant-style diapers, sanitary napkins and panty liners.

It has collaborative supply partnerships with various multinational consumer goods firms, including Procter & Gamble (P&G), Unicharm, Kimberly-Clark and Kenvue.

According to the company's past public disclosures, Swara Baby reported a CAGR (Compound Annual Growth Rate) of more than 30% during FY23-FY25.

Its revenue climbed to ₹943 crore in FY25 from ₹545 crore in FY23, while profit advanced to ₹81 crore from ₹26 crore during the same period.

ALSO READ | OpenAI files confidential IPO papers with SEC as ChatGPT maker reveals three main goals

FirstCry share price

Following the development, shares of FirstCry parent Brainbees Solutions were trading 0.47% higher at ₹219.68 apiece on the NSE on Tuesday, June 9, at 12:53 pm.

Its market capitalisation stands at ₹11,475.03 crore.

About The Author

Journalist Kamal Joshi, former Republic TV and latestly editor, now associated with Upstox
Kamal Joshi is a business journalist who covers industries, markets, and IPOs. He is passionate about breaking news and enjoys playing pickleball, especially flexing his net play. He was previously associated with Republic TV and LatestLY.

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