India, Oct. 6 -- Swara Baby Products, a contract manufacturer of disposable hygiene products and a subsidiary of omnichannel kidswear brand FirstCry's parent Brainbees Solutions, has received approval from SEBI for its proposed Rs.1,000 Cr IPO.

Swara Baby Products filed its DRHP in July this year. According to SEBI's latest processing status update, the regulator issued the final observation today.

The IPO will comprise a fresh issue of equity shares worth up to Rs.500 Cr and an offer for sale (OFS) of shares aggregating up to Rs.500 Cr.

Brainbees Solutions, which owns a 76.6% stake in Swara Baby Products, will sell shares worth up to Rs.300 Cr through the OFS. Another promoter selling shareholder, Anadya Bon Merchari LLP, will offload...