• Nobel Hygiene secured Rs 170 crore from Neo Asset Management to fuel growth and IPO preparation.
• Funds will boost adult diaper market presence, strengthen distribution, and support brand-building.
• Known for its Friends adult diapers, Nobel Hygiene exports to 20+ countries and plans an IPO soon.


Nobel Hygiene, a top disposable hygiene products manufacturer from Mumbai, has raised Rs 170 crore (about $20 million) in a funding from Neo Asset Management, the investment arm of Neo Group. The capital raise includes primary and secondary investments and is meant to broaden its base in India's fast-expanding adult diaper market, deepen its distribution network, and increase brand-building efforts in advance of a planned initial public offering (IPO).

'This investment by Neo Group is not merely capital it's a vote of confidence on our vision to lead and scale the adult diaper category in India," said Kamal Johari, Managing Director and Promoter of Nobel Hygiene. "With this backing, we will increase consumer interaction, strengthen our supply chain, and further consolidate our flagships brands."

About Nobel Hygiene

Established in 2000 by Kamal Kumar Johari, Nobel Hygiene is one of India's handful of indigenous disposable hygiene products firms. Its top-selling brand Friends dominates the adult diaper market a category the company helped mainstream in India through awareness campaigns around elderly hygiene and dignity. It also makes Teddyy baby diapers and RIO Pads sanitary napkins.

Nobel Hygiene has manufacturing units in Nasik and Baroda and a pan-India distribution network with more than 1,000 dealers. It also exports its products to over 20 countries.

Hemant Daga, CEO of Neo Asset Management, described the investment as a vote of confidence in a fast-growing Indian brand with strong fundamentals. “We’re excited to partner with Nobel Hygiene, a market leader in adult diapers and a significant player in India's burgeoning personal hygiene market,” Daga said.

The fund-raising is a tactical move as Nobel Hygiene prepares itself for a public listing. The proceeds will be utilized to reinforce its leadership position in the adult diaper business projected to grow to $1 billion by 2030 with a 25% CAGR along with enhancing marketing, consumer connect, and product development initiatives.