Nobel Hygiene Files DRHP For Rs 150 Crore IPO After Profit Jumps Nearly 100-Fold In FY26
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Nobel Hygiene IPO: Backed by Quadria Capital and Sixth Sense Ventures, the diaper maker's Sebi filing pairs a debt paydown plan with a Halol capacity expansion as it looks to scale up against global rivals like Pampers and Huggies.
Nobel Hygiene, the maker of adult diapers and feminine hygiene products under brands such as Friends and Teddyy, has filed its draft offer document with capital markets regulator Sebi, moving closer to a public listing after a sharp improvement in profitability in FY26, Bloomberg reported.
The Mumbai-based company reported a net profit of Rs 18.9 crore for the year ended March 2026, compared with Rs 0.2 crore a year earlier. Revenue rose 14.6% to Rs 846.8 crore from Rs 739.1 crore during the same period.
The Quadria Capital and Sixth Sense Ventures-backed company plans to raise Rs 150 crore through a fresh issue of equity shares. The IPO will also include an offer for sale of 1.55 crore shares by existing investors, including Quadria Capital-managed Orbit Investment Holdings, Sixth Sense Ventures and Bennett Trading LLP.
Where Will Nobel Hygiene Spend The IPO Money?
Debt repayment and manufacturing expansion are the two key uses of the fresh capital.
Nobel Hygiene plans to use Rs 42 crore of the proceeds to repay debt. Its consolidated borrowings stood at Rs 114.3 crore as of June 2026.
The company has earmarked a larger Rs 71.3 crore for expansion at its Halol facility in Gujarat. The investment will go towards setting up a new facility and purchasing and installing an adult diaper production line.
The remaining funds will be used for general corporate purposes.
Nobel Hygiene may also raise up to Rs 30 crore through a pre-IPO placement. Any amount raised through this route will form part of the fresh issue, reducing the size of the public issue by the corresponding amount.
Who Is Selling Shares In The Nobel Hygiene IPO?
Existing investors are looking to sell 1.55 crore shares through the OFS component of the issue.
Orbit Investment Holdings, which is managed by Quadria Capital, is Nobel Hygiene's largest shareholder with a 36.71% stake. Fancy Textrade LLP holds 13.35%, Neo Asset Management owns 13.2% and Sixth Sense Ventures has a 12.66% holding. The promoter group, led by Kamal Kumar Johari, owns 34.15% of the company.
Nobel Hygiene operates two manufacturing facilities in Nashik, Maharashtra, and Halol, Gujarat.
The company's portfolio covers multiple hygiene categories. Its adult care products are sold under the Friends and B-Fit brands, while Teddyy and Snuggy cater to the baby-care segment. It also sells feminine hygiene products under the RIO brand.
The sharp improvement in earnings will be a key focus as the company heads towards its proposed listing.
Nobel Hygiene operates in a competitive market, particularly in baby diapers, where it competes with established brands such as Pampers and Huggies. Its margins are also exposed to movements in key raw materials, including wood pulp and super absorbent polymers, as well as currency fluctuations.
The company's ability to scale production through the Halol expansion while maintaining profitability will therefore remain important as it moves through the IPO process.
ICICI Securities, Motilal Oswal Investment Advisors and SBI Capital Markets are the book-running lead managers to the issue. The company is yet to announce the IPO price band and subscription dates.
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This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
Rochelle Britto has spent 8+ years decoding India's markets, businesses, and consumer economy, reporting for ET Prime and Times Internet along the way, covering the stories behind the numbers.
A Mumbai native and perpetual planner of the next holiday, she stays far, far away from the eternal question, “Where are we going next?” When she's not chasing headlines, she's chasing new cultures, open roads, and a bit of quiet in nature.
