Firstcry has announced a restructuring involving its subsidiaries, Swara Baby and Solis Hygiene, to streamline operations. Swara Baby will acquire additional shares in Solis Hygiene. Additionally, Neha Surana has resigned as Company Secretary, with Mandar Joshi appointed as her replacement, effective December 27, 2025. These moves aim to consolidate the hygiene vertical and strengthen leadership.
Subsidiary Restructuring
Firstcry is undertaking an intra-group restructuring involving Swara Baby Products Private Limited (“Swara Baby”) and Solis Hygiene Private Limited (“Solis Hygiene”). As part of this, the company will acquire additional shares in Swara Baby in consideration of shares of Solis Hygiene. This transaction is based on Share Subscription and Purchase Agreements both dated December 26, 2025.
Specifically, Firstcry will acquire an additional 56,26,738 Equity Shares in Swara Baby in exchange for 52,890 Series A1 Equity Shares held by the Company in Solis Hygiene. After this restructuring, Swara Baby’s shareholding will increase from 75.92% to 76.59%. Solis Hygiene will become a step-down subsidiary, and the indirect control will also be 76.59%.
Details of Solis Hygiene and Swara Baby
In the financial year 2024-25, Solis Hygiene contributed a Turnover of Rs. 240.7 Crore and a Net Worth of Rs. 84.8 Crore, representing roughly 3% and 2%, respectively, of Firstcry’s consolidated figures.
Leadership Transition
Neha Surana, the Company Secretary and Compliance Officer, has resigned effective at the close of business hours on December 26, 2025, due to personal reasons; however, she will remain with the Secretarial Team.
Mandar Joshi (ICSI Membership No. A40533) has been appointed as the new Company Secretary & Compliance Officer and Key Managerial Personnel (KMP) effective December 27, 2025. Mr. Joshi brings over 12 years of experience in Company Secretarial assignments, Corporate Law Compliance, and Governance.
Source: BSE
