Nobel Hygiene Limited, a manufacturer of absorbent hygiene products, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO).
The proposed IPO comprises a fresh issue of equity shares worth up to Rs 150 crore and an offer for sale (OFS) of up to 15,511,082 equity shares by existing shareholders, including Kamal Kumar Johari and Kamini Kamal Johari (promoter selling shareholders), and Orbit Investment Holdings Pte. Ltd., Sixth Sense India Opportunities III, Bennett Trading LLP, Manish Dharanendra Ladage, Seema Manish Ladage, and Lashit Lallubhai Sanghvi (investor selling shareholders).
Nobel Hygiene plans to use the proceeds from the fresh issue to repay or prepay outstanding borrowings, invest in its subsidiary Nobel Hygiene Baroda Pvt Ltd (NHBPL), and part-finance the augmentation of production capacity at Halol.
The expansion will include a brownfield manufacturing and warehousing facility on the existing Halol land and the installation of an adult diaper production line.
A portion of the proceeds will also be used for general corporate purposes.
Nobel Hygiene has been operating in the absorbent hygiene market for over two decades, with products across adult, baby, and feminine care sold under brands such as Friends, B-Fit, Teddyy, Snuggy, and RIO. As of March 31, 2026, the company had more than 1,158 SKUs, including adult and baby diapers, underpads, insert pads, maternity pads, bed bath towels, wet wipes, and sanitary pads.
Adult and baby absorbent hygiene accounted for 49.25% and 45.32%, respectively, of the company’s revenue from operations in FY26. Friends and Teddyy contributed 37.85% and 39.63% of revenue, while B-Fit accounted for 10.83%.
Nobel Hygiene operates 14 manufacturing lines across its facilities in Nashik and Halol, spread over around 19 acres. The plants have a combined annual installed capacity of 1,890.57 million units across adult diapers, baby diapers and underpads.
The company distributes its products through around 270,000 retail outlets across 31 states and Union Territories, supported by more than 296 stockists and 418 distributors. It also exports to 19 countries, including Sri Lanka, the UAE, Australia and Mauritius.
The company also intends to strengthen its presence in the feminine absorbent hygiene category through the introduction of disposable period panties, while continuing to expand its adult and baby hygiene businesses through deeper penetration, product innovation and expanded manufacturing capacity.
ICICI Securities Limited, Motilal Oswal Investment Advisors Limited and SBI Capital Markets Limited are the book running lead managers to the issue.
