FirstCry-backed Swara Baby to file DRHP for ₹1,000-cr IPO in June
Pithampur-based contract manufacturer of diapers and feminine hygiene products plans a fresh issue plus OFS, with JM Financial and Avendus as bankers. FY25 revenue hit ₹943 cr with PAT of ₹81 cr, riding a >30% CAGR as India's diaper market scales from $1.83B to $3.18B by 2034.
What happened
FirstCry-backed Swara Baby Products, a contract manufacturer of baby/adult diapers and feminine hygiene products, plans to file DRHP this month for a ₹1,000
Key facts
- ₹1,000 crore IPO
- Revenue ₹943 cr FY25
- PAT ₹81 cr FY25
- CAGR >30% FY23-FY25
- India diaper market $1.83B 2025, $3.18B 2034
Why this matters
FirstCry's backing and the JM-Avendus mandate signal Swara as a strategic consolidator candidate in fragmented hygiene contract manufacturing post-listing.