This FirstCry-promoted company wants to raise ₹1,000cr via IPO
What's the story
Swara Baby Products, a FirstCry-promoted company that specializes in manufacturing baby and adult diapers as well as feminine hygiene products, is gearing up for an initial public offering (IPO) of up to ₹1,000 crore. The company will file draft papers with the Securities and Exchange Board of India (SEBI) this month. The proposed IPO will include a fresh issue of shares and an Offer for Sale (OFS) by existing shareholders.
IPO management
Management and company overview
The management of the upcoming IPO will be handled by JM Financial and Avendus Capital. Swara Baby Products is led by Alok Birla, a veteran in the hygiene products industry with over 18 years of experience. The company was established in 2021 as a single-product entity but has since expanded its product range to include seven categories such as baby pant-style diapers, adult pant-style diapers, sanitary napkins and more.
Production capacity
Manufacturing and supply partnerships
Swara Baby runs four manufacturing units in Pithampur and Indore, Madhya Pradesh. The company has also established supply partnerships with global consumer goods giants such as Unicharm, Procter & Gamble (P&G), Kimberly-Clark and Kenvue. Swara Baby reported a Compound Annual Growth Rate (CAGR) of over 30% between FY23-FY25.
Revenue increase
Financials from FY23 to FY25
Swara Baby's revenue has grown from ₹545 crore in FY23 to around ₹943 crore in FY25. Its profit after tax also increased from ₹26 crore to ₹81 crore during the same period. The disposable hygiene products market in India is booming, with rising hygiene awareness, increasing disposable incomes, e-commerce growth and organized retail penetration driving demand.