FirstCry Approves ₹300 Crore OFS In Swara Baby IPO; Shares To Remain In Focus

Shares of Brainbees Solutions, the parent of FirstCry, are likely to remain in focus on Thursday after the company approved participation in the proposed initial public offering (IPO) of its subsidiary, Swara Baby Products, through an offer for sale (OFS) worth up to ₹300 crore.

At 3:24 PM, Brainbees Solutions shares were down 0.71% on the National Stock Exchange (NSE).

In an exchange filing after market hours on Wednesday, the company said its board approved the sale of equity shares with a face value of ₹2 each under the OFS portion of the proposed IPO.

FirstCry said Swara Baby will continue to remain its subsidiary after the completion of the IPO. The proposed public issue will require approvals from the Securities and Exchange Board of India (SEBI), Bombay Stock Exchange (BSE), NSE and other regulatory authorities before it can proceed.

Swara Baby Plans Up To ₹1,000 Crore IPO

Swara Baby Products, a FirstCry-backed contract manufacturer of disposable hygiene products, is preparing to file its draft red herring prospectus (DRHP) with SEBI to raise up to ₹1,000 crore, according to a PTI report published last month.

The proposed IPO will include:

• A fresh issue of equity shares

• An offer for sale by existing shareholders

JM Financial and Avendus Capital have been appointed as the book-running lead managers for the issue, according to the report.

Swara Baby manufactures products across baby care, adult incontinence and feminine hygiene categories. The company started operations in 2021 as a single-product manufacturer. It has since expanded into seven product segments, including baby pant-style diapers, baby tape-style diapers, adult pant-style diapers, adult tape-style diapers, sanitary napkins and panty liners.

FirstCry Stock Performance And Financials

Brainbees Solutions shares have risen more than 2% over the past week and the past one month. However, the stock remains under pressure on a longer-term basis. The shares have declined more than 20% so far in 2026 and are down over 39% in the past one year. The company currently has a market capitalisation of more than ₹11,913 crore.

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In its latest quarterly results, the company reported a narrowing of its consolidated net loss to ₹30.30 crore for the first quarter of FY26, compared with ₹77 crore in the corresponding period a year earlier. Revenue from operations rose 12% year-on-year to ₹2,163 crore in Q1 FY26 from ₹1,930 crore in the same quarter last year.

For the full financial year, the company said its consolidated net loss narrowed by 23%, while revenue increased 12% over the previous year. Its earnings before interest, taxes, depreciation, and amortisation (EBITDA) grew 24% year-on-year, according to its filing.