Nobel Hygiene, a leading manufacturer in India’s disposable hygiene sector, has raised approximately ₹170 crore (USD 20 million) from Neo Asset Management in a recent funding round. This investment, comprising both primary and secondary capital infusion, is intended to bolster the company’s leadership in the adult diaper market and support its preparations for an upcoming initial public offering (IPO).
The company operates two manufacturing facilities in India, certified by ISO, WHO-GMP, and CE standards, and maintains a distribution network spanning over 1,000 dealers and distributors across the country. Its product portfolio includes adult diapers and baby diapers, with a significant share in the adult incontinence market.
The funds will be utilized to expand market penetration in the adult diaper category, enhance distribution channels, and improve manufacturing capabilities. The company has previously received investments from Quadria Capital and Sixth Sense Ventures. Neo Asset Management oversees alternative assets exceeding ₹11,000 crore, with its primary activities centered on private equity, private credit, and real assets.
India’s adult diaper market is rapidly expanding, driven by increasing awareness, improving income levels, and a growing elderly population. The segment is projected to reach $1 billion by 2030, growing at a compound annual growth rate (CAGR) of 25%, reflecting rising demand for adult incontinence products in both urban and semi-urban areas.
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