Disposable hygiene company Nobel Hygiene has raised approximately Rs 170 crore ($20 million) in a combination of primary and secondary transactions from Neo Asset Management. The Mumbai-based company had previously raised $47.8 million from Access Asset Managers and others. The proceeds will be allocated towards increasing adult diaper market penetration, investing in its flagship brands, and expanding the distribution network across the country, Nobel Hygiene said in a press release. Nobel Hygiene states that it operates pan-India with a strong network of over 1,000 dealers and distributors and has built a commanding presence in e-commerce. The company also exports to over 20 countries across the globe.
Nobel Hygiene claims that it has consistently shaped the disposable hygiene segment with its flagship brands—Friends (adult diapers), which commands over 40% market share; and Teddyy (baby diapers), which continues to remain the largest Indian baby diaper brand, with an expanding presence across general trade outlets and e-commerce. According to market research, the adult diaper market in India is experiencing exponential growth and is expected to become a $1 billion category by 2030, growing at a 25% CAGR. Neo Asset Management currently manages over Rs 11,000 crore of alternative assets, offering investment solutions across Private Equity, Private Credit, and Real Assets to UHNIs, family offices, and institutions.
ABOUT NOBEL HYGIENE
Nobel hygiene has been founded in 2000 by Kamal Kumar Johari. Nobel Hygiene is a disposable hygiene products manufacturer. The company is known for the adult diaper category in India with its flagship brand, Friends adult diapers, and also owns Teddyy baby diapers.