FirstCry-backed Swara Baby to file DRHP in June for ₹1,000-cr IPO
Swara Baby Products, a Pithampur-based contract manufacturer of diapers and feminine hygiene products for P&G, Kimberly-Clark, Unicharm and Kenvue, plans to file its DRHP this month. FY25 revenue hit ₹943 cr with PAT of ₹81 cr, riding 30%+ CAGR as India's diaper market scales from USD 1.83 bn to USD 3.18 bn 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
- 30%+ CAGR FY23-FY25
- India diaper market USD 1.83 bn (2025)
- USD 3.18 bn (2034)
Why this matters
Swara's listing creates a publicly-valued benchmark for India's hygiene contract manufacturing space and signals consolidation potential as global FMCG players deepen outsourced production partnerships.