FirstCry is undergoing a restructuring to consolidate its hygiene business. The company will increase its stake in Swara Baby from 75.92% to 76.59%. Swara Baby will acquire 100% stake in Solis Hygiene making it a step-down subsidiary. The aim is to consolidate the hygiene vertical under one entity, enhancing financial reporting at Swara Baby’s level.
Hygiene Business Consolidation
FirstCry has announced a strategic restructuring focused on its hygiene vertical. This involves increasing its stake in Swara Baby Products Private Limited (Swara Baby) and streamlining operations.
Key Transaction Details
FirstCry will acquire additional shares in Swara Baby, increasing its stake from 75.92% to 76.59%. This acquisition is part of an intra-group restructuring. The company will acquire an additional 5,626,738 equity shares in Swara Baby. The consideration for this acquisition involves shares of Solis Hygiene Private Limited.
Solis Hygiene and Swara Baby
As part of the restructuring, Swara Baby will acquire 100% stake in Solis Hygiene. After the acquisition, Solis Hygiene will become a step-down subsidiary of FirstCry. This consolidation is expected to improve the financial reporting and performance of the hygiene vertical.
Leadership Changes
Neha Surana, Company Secretary and Compliance Officer, has resigned from her position effective December 26, 2025, but will remain with the company’s secretarial team. Simultaneously, Mandar Joshi has been appointed as Company Secretary & Compliance Officer, effective December 27, 2025.
Financial Overview of Solis Hygiene
Solis Hygiene Private Limited, contributes a turnover of Rs. 240.7 Crore and a net worth of Rs. 84.8 Crore, accounting for 3% and 2% of the company’s consolidated turnover and net worth, respectively, during the financial year 2024-25.
Financial Overview of Swara Baby
Swara Baby Products Private Limited reported a turnover of INR 545.14 Crore for 2024-25. It further reported a net worth of INR 291.96 Crore for the same period. The cost of acquiring additional shares will be INR 84.40 Crore.
Source: BSE
