WebinarsNew
Deep DiveNew
Explore Business Standard
Swara Baby Products, a contract manufacturer of baby diapers, adult diapers and feminine hygiene products backed by FirstCry, on Thursday filed draft papers with markets regulator Sebi to raise Rs 1,000 crore through an initial public offering (IPO). The proposed IPO comprises a fresh issue of equity shares aggregating up to Rs 500 crore and an offer for sale (OFS) valued at Rs 500 crore by promoters, according to the draft red herring prospectus (DRHP). The OFS includes sale of shares worth up to Rs 300 crore by Brainbees Solutions Ltd, the parent company of FirstCry, and up to Rs 200 crore by Anadya Bon Merchari LLP. The company proposes to utilise the net proceeds from the fresh issue to set up a new manufacturing facility in Madhya Pradesh with an allocation of Rs 198.2 crore, repay or prepay loans amounting to Rs 100 crore, and invest Rs 27.5 crore in subsidiaries Solis Hygiene, Swara Hygiene and K.A. Enterprises Hygiene Pvt Ltd (KAEHPL) for repayment of their outstanding ...
Swara Baby Products, a contract manufacturer of baby diapers, adult diapers and feminine hygiene products backed by FirstCry, is planning to file draft papers with Sebi this month to raise funds up to Rs 1,000 crore through an Initial Public Offering (IPO), people familiar with the development said on Tuesday. The proposed IPO is expected to comprise a fresh issue of shares and an Offer for Sale (OFS) by existing shareholders, they added. JM Financial and Avendus Capital have been appointed as the book-running lead managers for the issue. Emails sent to the company and the investment bankers seeking comments did not elicit any response till the filing of this report. Led by Alok Birla, who has over 18 years of experience in the hygiene products industry, Swara Baby manufactures disposable hygiene products across baby care, adult incontinence and feminine hygiene segments. Along with Birla, Brainbees Solutions Ltd, the parent of FirstCry, is among the promoters of the ...