Business · Updated 6 Oct, 06:21 pm IST

Swara Baby Products gets SEBI approval for ₹1,000 Cr IPO

Why it matters for readers: Explains that the company got regulator approval to go public and what the funds will be used for.

SEBI issued the final observation for Swara Baby Products' ₹1,000 crore IPO filed in July, clearing the process to proceed.1
The IPO comprises a fresh equity issue of up to ₹500 crore and an offer for sale (OFS) of up to ₹500 crore.1 2
Brainbees Solutions, which owns a 76.6% stake, plans to sell up to ₹300 crore through the OFS while Anadya Bon Merchari LLP may offload up to ₹200 crore.1
The company intends to use about ₹198.2 crore to build a new manufacturing facility in Madhya Pradesh, and ₹100 crore to repay debt, with remaining proceeds for capacity expansion and acquisitions.1
Swara filed its DRHP in July and the company is also considering a pre-IPO placement of up to ₹100 crore.1

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6 Oct, 04:36 pm · Inc42
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