Nobel Hygiene Files DRHP with SEBI for Initial Public Offering

Quadria Capital-backed Nobel Hygiene has submitted its draft red herring prospectus to SEBI for an initial public offering. The proposed issue includes a fresh equity issue of up to ₹150 crore and an offer-for-sale of over 1.55 crore equity shares.

Nobel Hygiene, a home-grown branded manufacturer of absorbent hygiene products among pure-play branded companies, has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO).

According to the regulatory filings, the proposed public issue consists of a fresh issue of equity shares amounting to up to ₹150 crore. Additionally, the offering includes an offer-for-sale (OFS) of up to 15,511,082 equity shares by existing shareholders.

The company plans to deploy the net proceeds obtained from the fresh equity issue toward several key corporate initiatives. These include the repayment of debt, capacity expansion at its Halol facility—which encompasses a brownfield manufacturing-cum-warehousing setup and an adult diaper machine line—as well as investment in its subsidiary, NHBPL, and general corporate purposes.

Backed by Quadria Capital, Nobel Hygiene carries a legacy of over two decades. The company operates across multiple segments, including adult, baby, and feminine absorbent hygiene. Its brand portfolio features established names such as Friends, B-Fit, Teddyy, Snuggy, and RIO, spanning a total of over 1,158 stock-keeping units (SKUs).

On the financial front, the company reported a 15 per cent growth in its revenue from operations for FY2026, reaching ₹847 crore. During the same period, its earnings before interest, tax, depreciation, and amortization (EBITDA) increased to ₹85 crore.

Market data indicates favourable industry tailwinds for the firm's core segments. Specifically, the adult absorbent hygiene market in India is projected to grow at a compound annual growth rate (CAGR) of 21 to 23 per cent through FY2031, supported by increasing category penetration and new user adoption.

"The filing of the DRHP by Nobel Hygiene marks a significant milestone for the company and highlights the growing maturity of India's consumer goods sector. With clear plans to allocate capital toward debt reduction and capacity expansion at Halol, the business is positioning itself to capture rising demand, particularly in the fast-growing adult absorbent hygiene market. As more home-grown brands access public markets, financial discipline and clear growth visibility will remain key factors for investor confidence." — Dr. Shishir Gupta, Founder & CEO, StartupLanes