Swara Baby Products, a contract manufacturer of baby diapers, adult diapers, and feminine hygiene products backed by FirstCry, has filed draft papers with the Securities and Exchange Board of India (Sebi) for an initial public offering.
The filing marks the company's entry into the public markets with a significant capital raise.
The draft red herring prospectus outlines a dual-component offering designed to raise over ₹1,000 crore.
The structure includes a fresh issue of equity shares worth up to ₹500 crore, which will provide new capital to the company, alongside an offer for sale (OFS) of ₹500 crore by existing shareholders looking to monetize their stakes.
This move adds to the activity in the Indian IPO market, following recent filings by other mid-cap companies such as Renfra Energy India, which submitted preliminary documents for a ₹430 crore listing.
The Swara filing signals continued interest from private equity and strategic investors in taking consumer-facing manufacturing businesses public.