The adult diaper market in India is experiencing exponential growth, projected to become a $1 billion category by 2030, growing at a 25% CAGR.
- Sun, 14 December 2025
Nobel Hygiene, a Mumbai-based disposable hygiene products manufacturer has raised approximately ₹170 crore (USD 20 million) from Neo Asset Management, the investment arm of Neo Group.
The funding round, comprising both primary and secondary capital infusion, is strategically timed as the company prepares for its upcoming Initial Public Offering (IPO)
The fresh capital will be utilized to deepen Nobel Hygiene’s market penetration, particularly in the adult diaper segment, and to expand its distribution network across India.
The company plans to invest in its flagship brands, Friends adult diapers and Teddyy baby diapers, enhancing consumer outreach in both urban and rural markets. This move aims to solidify Nobel Hygiene’s leadership in the rapidly growing personal hygiene sector
The adult diaper market in India is experiencing exponential growth, projected to become a $1 billion category by 2030, growing at a 25% CAGR.
Neo Asset Management joins existing investors Quadria Capital and Sixth Sense Ventures, reinforcing investor confidence in Nobel Hygiene’s growth potential. Notably, Nitin Agarwal, Head of Private Equity at Neo and a former board member of Nobel Hygiene, returns to the company’s cap table with this investment. His involvement underscores the strategic alignment and deep sectoral understanding that Neo brings to the partnership.
Founded in 2000 by Kamal Kumar Johari, Nobel Hygiene has established itself as a pioneer in India’s disposable hygiene sector. With a strong presence across over 1,000 dealers and distributors, and exports to more than 20 countries, the company is well-positioned to capitalize on the growing demand for personal hygiene products.
Nobel Hygiene’s strategic initiatives and strong investor backing position it to lead this burgeoning market segment.
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