Bookbuilding IPO | ₹1,000 Cr | Listing at BSE, NSE |
Swara Baby Products Ltd. has filed a Draft Red Herring Prospectus (DRHP) with SEBI on July 2, 2026 to raise funds through Initial Public Offer (IPO).
Swara Baby Products Ltd. IPO is a Book Build Issue of ₹1,000.00 crores consisting of a fresh issue of shares worth Rs ₹500.00 crores and an offer for sale (OFS) of ₹500.00 crores.
The equity shares are proposed to be listed on NSE and BSE. JM Financial Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue. Key details like IPO dates, IPO price bands and lot size are yet to be announced.
Refer to Swara Baby Products IPO DRHP for more details.
| IPO Date | [.] |
| Listing Date | [.] |
| Face Value | ₹2 per share |
| Price Band | |
| Lot Size | |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | [.] shares (agg. up to ₹1,000 Cr) |
| Fresh Issue | [.] shares (agg. up to ₹500 Cr) |
| Offer for Sale | [.] shares of ₹2 (agg. up to ₹500 Cr) |
| Share Holding Pre Issue | 24,42,84,747 shares |
| Description | Date |
|---|---|
| Filed with SEBI/Exchange | Thu, Jul 2, 2026 |
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Offer |
| NII Shares Offered | Not less than 15% of the Net Offer |
| Category | Limit | Cut-off |
|---|---|---|
| RII | Up to ₹2 Lakhs | Yes |
| sNII | ₹2 Lakhs – ₹10 Lakhs | No |
| bNII | Above ₹10 Lakhs | No |
| Employee (EMP) | Up to ₹5 Lakhs | Yes |
| Employee + RII/NII | Up to ₹5Lakhs (EMP) + RII/NII limits | Yes (EMP/RII) |
Incorporated in November 2016, Swara Baby Products Limited is a specialized contract manufacturer of disposable consumer hygiene products, offering a diversified portfolio across baby care, adult incontinence, and feminine hygiene categories. The company manufactures baby pant and tape-style diapers, adult diapers, sanitary napkins, panty liners, and related hygiene products for leading brands, while also marketing its own consumer brands, "Cuddles" (baby diapers) and "Shields" (adult diapers) through online and modern retail channels.
According to the TKC Report, Swara Baby Products was the largest contract manufacturer in India's hygiene manufacturing industry by value in Fiscal 2025, holding a 37% market share in baby diaper contract manufacturing and a 36% market share in adult diaper contract manufacturing. The company combines large-scale manufacturing capabilities with centralized R&D, quality assurance, and an efficient supply chain to deliver customized hygiene solutions. It further strengthened its product portfolio by entering the feminine hygiene segment through the acquisition of KAEHPL in December 2025.
The company operates strategically located manufacturing facilities supported by strong research, quality control, and an integrated supply chain.
As of March 31, 2026, Swara Baby Products employed 775 permanent personnel across production, quality, supply chain, finance, administration, HR, and IT functions.
Strengths
Swara Baby Products Ltd.'s revenue increased by 26% and profit after tax (PAT) rose by 18% between the financial year ending with March 31, 2026 and March 31, 2025.
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 1,368.20 | 1,002.31 | 780.15 |
| Total Income | 1,212.44 | 959.67 | 766.61 |
| Profit After Tax | 95.59 | 80.67 | 93.97 |
| EBITDA | 192.77 | 162.72 | 153.59 |
| NET Worth | 553.22 | 399.92 | 319.36 |
| Reserves and Surplus | 504.58 | 367.25 | 286.58 |
| Total Borrowing | 443.06 | 354.82 | 260.08 |
| Amount in ₹ Crore | |||
| Company | Issue Type | Issue Size | Issue Price | PE Ratio | Listing Day Close | Listing Gain/Loss % | LTP |
|---|---|---|---|---|---|---|---|
| Recode Studios Ltd. | SME | ₹44.59 Cr | ₹158 | 38.94 | ₹223.75 | +41.61% | ₹200.35 (+0.38%) |
| Ravelcare Ltd. | SME | ₹24.10 Cr | ₹130 | 12.38 | ₹190.95 | +46.88% | ₹113.55 (+0.40%) |
| Anondita Medicare Ltd. | SME | ₹69.50 Cr | ₹145 | 11.74 | ₹289.25 | +99.48% | ₹1,188.80 (+1.64%) |
| Medistep Healthcare Ltd. | SME | ₹16.10 Cr | ₹43 | 10.86 | ₹50.35 | +17.09% | ₹18.05 (-9.52%) |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Part-financing the capital expenditure towards setting up of the Project | 198.21 |
| 2 | Repayment/pre-payment, in full or part, of certain outstanding borrowings availed by the Company | 100.00 |
| 3 | Investment in our wholly-owned Subsidiaries, Solis Hygiene, Swara Hygiene and KAEHPL, for repayment/prepayment, in full or in part, of certain outstanding borrowings availed by them | 27.50 |
| 4 | Funding inorganic growth through unidentified acquisitions and other strategic initiatives and general corporate purposes | |
| Total | 325.71 |
| KPI | Mar 31, 2026 |
|---|---|
| ROE | 10.58% |
| ROCE | 14.48% |
| Debt/Equity | 10.12 |
| RoNW | 17.28% |
| PAT Margin | 8.21% |
| EBITDA Margin | 16.56% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 3.91 | |
| Promoter Holding | 100.00% |
Lead Manager Reports
Swara Baby Products IPO is a main-board IPO of 0 equity shares of the face value of ₹2 aggregating up to ₹1,000 Crores. The issue is priced at To be declared. The minimum order quantity is .
The Swara Baby Products IPO open and close dates are not available as of now.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Swara Baby Products IPO using UPI as a payment gateway. Zerodha customers can apply in Swara Baby Products IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Swara Baby Products IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Swara Baby Products IPO dates are not announced. Please check back again after some time.
Swara Baby Products IPO lot size and the minimum order quantity is not available at this time. Please check again later.
You can apply in Swara Baby Products IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Swara Baby Products IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the Swara Baby Products IPO allotment status.
The Swara Baby Products IPO listing date is not yet announced. The tentative date of listing is .
