Disposable hygiene company Nobel Hygiene has raised around ₹170 crore (about $20 million) from Neo Asset Management through a mix of new investments and the sale of existing shares.
The Mumbai-based company had earlier raised $47.8 million from Access Asset Managers and other investors.
Nobel Hygiene said in a press release that the money will be used to grow its adult diaper market, invest in its leading brands, and expand its distribution network across India.
Nobel Hygiene, started in 2000 by Kamal Kumar Johari, makes disposable hygiene products. It is well known in India for its adult diapers under the brand name “Friends” and also makes “Teddyy” baby diapers.
Nobel Hygiene says it operates across India with a strong network of over 1,000 dealers and distributors. It also has a strong presence in online sales and exports its products to more than 20 countries worldwide.
Nobel Hygiene has played a significant role in shaping the disposable hygiene market with its leading brands.
Its adult diaper brand, Friends, holds over 40% of the market, and its baby diaper brand, Teddyy, is the largest Indian baby diaper brand, growing steadily in stores and online.
Market research shows that the adult diaper market in India is growing very fast and is expected to reach $1 billion by 2030, with an annual growth rate of 25%.
Neo Asset Management currently manages over ₹11,000 crore in alternative investments. It provides investment options in private equity, private credit, and tangible assets for wealthy individuals, family offices, and institutions.
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