FirstCry-backed Swara Baby to file DRHP for Rs 1,000-crore IPO in June
Swara Baby Products, a Pithampur-based contract manufacturer of diapers and hygiene products for P&G, Unicharm and Kimberly-Clark, will file papers this month. Revenue jumped from Rs 545 cr (FY23) to Rs 943 cr (FY25) at 30%+ CAGR; PAT tripled to Rs 81 cr. JM Financial and Avendus lead.
What happened
FirstCry-backed Swara Baby Products, a hygiene contract manufacturer for P&G, Unicharm and Kimberly-Clark, plans to file DRHP this month for a Rs 1,000-crore
Key facts
- Rs 1,000 crore IPO
- Revenue Rs 943 cr FY25
- Revenue Rs 545 cr FY23
- PAT Rs 81 cr FY25
- PAT Rs 26 cr FY23
- 30%+ CAGR FY23-FY25
- India diaper market $1.83 bn 2025
- $3.18 bn by 2034
- 4 manufacturing facilities
- 7 product categories
Why this matters
FirstCry-backed Swara going public locks in a strategic supplier for branded baby-care players and raises the bar for any acquirer eyeing India's contract hygiene manufacturing capacity.