FirstCry shares in focus ahead of Rs 300 crore Swara Baby stake sale via IPO

FirstCry (Brainbees Solutions) board approved selling shares worth up to Rs 300 crore in the IPO of its subsidiary Swara Baby Products via the Offer for Sale route. Swara Baby, a contract manufacturer of baby diapers, adult diapers and feminine hygiene products, plans to file draft IPO papers with SEBI to raise up to Rs 1,000 crore, with JM Financial and Avendus Capital as book-running lead managers. Swara Baby will continue to remain a subsidiary of FirstCry after the IPO, which remains subject to approvals from SEBI, BSE and NSE.