Nobel Hygiene IPO: Rs 150 Cr Fresh Issue Filed with SEBI

Nobel Hygiene, backed by Quadria Capital, has filed its Draft Red Herring Prospectus (DRHP) with SEBI for an Initial Public Offering. The IPO aims for a fresh issue of up to Rs 150 crore and an Offer For Sale (OFS) of over 15.5 million equity shares.

The Offering Details

The IPO structure includes a fresh issue of up to Rs 150 crore. Existing shareholders will participate in an Offer For Sale, offloading up to 15,511,082 equity shares.

Proceeds from the fresh issue are earmarked for specific uses. These include the prepayment or repayment of outstanding borrowings, investment in its subsidiary Nobel Hygiene Baroda (NHBPL), and partially financing the expansion of its Halol facility. Funds will also cover general corporate purposes.

Financial Snapshot

Nobel Hygiene reported significant financial growth, turning profitable in Fiscal 2026. Its revenue from operations increased by 14.56%.

• FY2026 Revenue: Rs 846.75 crore
• FY2025 Revenue: Rs 739.14 crore
• FY2026 Profit: Rs 18.91 crore
• FY2025 Profit: Rs 22.8 lakh

Product Portfolio and Market Position

As of March 31, 2026, the company’s product line included 1,158 SKUs across adult, baby, and feminine hygiene. Key brands include Friends, B-Fit, Teddyy, Snuggy, and RIO.

Friends is recognized as India’s largest adult absorbent hygiene brand by value. Adult absorbent products contributed 49.25% to FY2026 revenue, with baby absorbent products contributing 45.32%.

Market Growth Outlook

India’s adult absorbent hygiene market is experiencing an inflection point, valued at Rs 20.5-21.5 billion in FY2026. Projections show it reaching Rs 54-61 billion by FY2031.

Growth in this segment is anticipated from an expanding user base, increased penetration, and reduced stigma. ICICI Securities, Motilal Oswal Investment Advisors, and SBI Capital Markets are serving as the book running lead managers for the issue.