Nobel Hygiene Raises INR 170 Cr from Neo Asset Management
Nobel Hygiene Pvt Ltd, a leading Indian disposable hygiene products company, has raised INR 170 crore (US$ 20 million) from Neo Asset Management Pvt Ltd, the alternative asset management arm of Neo Group. This funding supports the company’s expansion plans as it prepares for its next phase of growth—an upcoming initial public offering (IPO).
The investment is a mix of primary and secondary capital infusion, aimed at expanding the company’s distribution network, investing in its core brands—Friends and Teddyy—and increasing the adult diaper market penetration. The company has already improved its manufacturing capacity and built a strong leadership team with support from previous investors, Quadria Capital and Sixth Sense Ventures.
Kamal Johari, Managing Director and Promoter, Nobel Hygiene, said the funding marks a new chapter in their growth. “This investment by Neo Group is not just a capital infusion; it’s a reinforcement of our commitment to lead and grow the adult diaper category in India,” he said.
Nitin Agarwal, Head, Private Equity, Neo Asset Management, shared, “Their flagship brand, Friends, has not only set industry benchmarks but has also played a vital role in reducing the stigma associated with elder care.”
Hemant Daga, CEO, Neo Asset Management, added, “Supporting entrepreneurship in India is our mission.” He further added, “In line with this vision, we are delighted to partner with Nobel Hygiene — a market leader in the adult diaper segment and a prominent homegrown brand in India’s rapidly expanding personal hygiene sector.” On that note, India’s adult diaper market is expected to reach US$ 1 billion by 2030, growing at 25 percent CAGR.