As per the filing,Swara Baby will issue 38.49 lakh equity shares to the existing shareholders of KA Hygiene. Following the share issuance, Brainbees’ holding in Swara Baby will reduce to 75.92% from 87.29%. KA Hygiene will become a wholly owned subsidiary of Swara Baby and a step-down subsidiary of Brainbees Solutions. After the share swap, the Firstcry parent will hold 75.92% stake in KA Hygiene.
Incorporated in 2019, Pune-based KA Hygiene manufactures and trades hygiene products like sanitary pads and baby diapers. It acquired commonly controlled KA Enterprises, which engaged in the same business as KA Hygiene, shortly before entering the pact with Brainbees, according to the exchange filing.
According to the exchange filing, the combined business reported a turnover of Rs 84.01 crore in FY25, slightly up from Rs 80.42 crore in the year ago period and Rs 58.45 crore in FY23. Profit after tax for FY25 stood at Rs 5.22 crore. KA Hygiene’s standalone financials are currently negligible, the company said.
Swara Baby Products is a contract manufacturer of diapers and feminine hygiene products. It entered the US market earlier this month.
The deal is expected to be completed by December 31, 2025, Brainbees stated.
Shares of Brainbees Solutions were trading 3% higher at Rs 299.4 on the BSE at 12:45 pm.
In the quarter ended September 2025, Brainbees trimmed its consolidated net loss by 20% year on year (YoY) to Rs 50.5 crore, on growth across business segments. The Pune-based company registered a 10% rise in consolidated revenue from operations to Rs 2,099 crore, against Rs 1,905 crore a year earlier.
During a post-earnings call on November 14, Brainbees chief executive Supam Maheshwari had said that the company is realigning its product strategy to improve margins, offer better prices, and attract a wider set of customers across channels. Instead of expanding its assortment, FirstCry plans to drive volumes and better economies of scale without any material impact on margins. This, Maheshwari said, would help boost footfalls in offline stores and increase conversion and online volumes. The full rollout of this realignment is expected in the first half of FY27.
Backed by SoftBank and Premji Invest, FirstCry offers a wide portfolio of products across apparel, footwear, baby care, nursery items, diapers, toys, and personal care.
The company’s offerings include both its own brands as well as domestic and international third-party labels. FirstCry has an annual unique transacting consumer base of 11 million and lists 1.9 million stock-keeping units (SKUs) across more than 7,800 brands on its platform.
Brainbees, through its subsidiary Globalbees Brands, has been acquiring new companies and increasing its stakes in portfolio brands. Earlier this month, Globalbees Brands increased its stake in fitness equipment maker HS Fitness from 80% to 86.49% for Rs 2.4 crore.
Similarly, earlier this year, it acquired an additional 10% stake in Cloud Lifestyle, which focuses on personal care, beauty and wellness products, for Rs 60.29 lakh.