Mumbai-based disposable hygiene company Nobel Hygiene has bagged ₹170 crore (approx. $20 million) in fresh funding from Neo Asset Management, part of the Neo Group, as it gears up for a public listing in the near future.
The deal includes a mix of primary and secondary investment, giving the company fresh capital to push forward while also offering partial exits or liquidity to earlier stakeholders. This new partnership marks Neo’s entry as the third institutional investor, joining the ranks of Quadria Capital and Sixth Sense Ventures—both early believers in Nobel’s long-term play.
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A market leader in adult and baby disposable diapers, Nobel Hygiene now plans to double down on the adult diaper segment, a category still in its early growth phase in India. The company aims to deepen its national distribution, invest further in brand building, and take its flagship labels—Friends (adult diapers) and Teddyy (baby diapers)—to the next level in visibility and reach.
“This isn’t just fresh capital—it’s validation,” said Kamal Johari, Managing Director and Promoter of Nobel Hygiene. “Neo’s backing gives us the ammunition to sharpen our focus on expanding access to adult hygiene products, scale our supply chain, and cement the leadership of our core brands. The timing couldn’t be better as we move closer to our IPO roadmap.”
Founded over two decades ago, Nobel Hygiene has grown into one of the country’s most trusted names in the hygiene space, particularly known for bringing dignity and convenience to an underserved adult incontinence segment. The company sees its next phase of growth coming not just from increased market penetration, but also from shaping cultural conversations around adult hygiene—an area long seen as taboo.
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With Neo’s investment, Nobel Hygiene now has a broader institutional support base to lean on as it prepares to take its story public.
