Nobel Hygiene Raises INR 170 Cr from Neo Asset Management to Fuel Expansion The fresh round — a mix of primary and secondary capital infusion — will bolster Nobel Hygiene's efforts to expand market penetration, especially in the adult diaper category, and gear up for its upcoming IPO.
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Mumbai-based disposable hygiene products manufacturer, Nobel Hygiene, has raised approximately INR 170 crore (USD 20 million) in funding from Neo Asset Management, the investment arm of Neo Group.
The fresh round — a mix of primary and secondary capital infusion — will bolster Nobel Hygiene's efforts to expand market penetration, especially in the adult diaper category, and gear up for its upcoming IPO.
The funds will be strategically deployed to deepen distribution, invest in flagship brands such as Friends adult diapers and Teddyy baby diapers, and enhance consumer outreach across urban and rural markets. The company also aims to leverage this capital to strengthen its leadership team and accelerate brand visibility, building on earlier investments from Quadria Capital and Sixth Sense Ventures.
Kamal Johari, Managing Director and Promoter at Nobel Hygiene, said, "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. With this support, we are ready to amplify our consumer outreach, reinforce our distribution channels, and further solidify the leadership of our core brands."
Founded in 2000 by Kamal Kumar Johari, Nobel Hygiene is a manufacturer of disposable hygiene products, operating out of Mumbai. Its product portfolio includes adult diapers, baby diapers, and sanitary pads under well-known brands like Friends, Teddyy, and RIO Pads. The company has two advanced manufacturing units in Nasik and Baroda, a PAN-India network of over 1,000 dealers and distributors, and exports to more than 20 countries.
Nobel Hygiene has been a category pioneer, credited with breaking social taboos around incontinence and driving awareness around dignity and hygiene for all age groups. Its flagship brand, Friends, holds a market leadership position in the adult diaper segment.
With this investment, Neo becomes the third institutional investor in Nobel Hygiene, joining Quadria and Sixth Sense. The deal also marks the return of Nitin Agarwal, Neo's Private Equity Head and a former board member of Nobel Hygiene, to the company's cap-table.
Hemant Daga, CEO of Neo Asset Management, added, "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."
