FirstCry-backed Swara Baby Products gets Sebi nod for Rs 1,000 Cr IPO

Swara Baby Products, a contract manufacturer of baby diapers, adult diapers and feminine hygiene products backed by FirstCry, received Sebi's approval on Tuesday to proceed with its proposed Rs 1,000 crore Initial Public Offering (IPO), an update with the regulator showed. 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).