Nobel Hygiene files draft IPO papers with Sebi; eyes ₹150 crore fresh issue, 1.55 crore-share OFS

Nobel Hygiene Ltd, the Quadria Capital-backed Indian maker of absorbent hygiene products, has filed draft papers with markets regulator Sebi to raise funds through an initial public offering (IPO), as the company looks to strengthen its balance sheet and expand manufacturing capacity.

The proposed IPO will comprise a fresh issue of shares worth up to ₹150 crore and an Offer-for-Sale (OFS) of up to 1.55 crore equity shares, according to the draft red herring prospectus (DRHP) filed on Thursday. The OFS will allow promoters Kamal Kumar Johari and Kamini Kamal Johari, along with investors such as Orbit Investment Holdings, Sixth Sense India Opportunities III and Bennett Trading LLP, to sell part of their holdings.

Debt repayment, Gujarat expansion in focus

Nobel Hygiene plans to deploy proceeds from the fresh issue towards debt repayment, investment in subsidiary Nobel Hygiene Baroda Pvt Ltd and expansion of its manufacturing footprint at Halol in Gujarat.

The expansion will include a brownfield manufacturing-cum-warehousing facility and a new adult diaper production line. The remaining funds will be used for general corporate purposes.

The company operates across the adult, baby and feminine hygiene categories through brands including Friends, Teddyy, B-Fit, Snuggy and RIO. Its portfolio stood at more than 1,150 stock keeping units (SKUs) as of March 31, 2026.

1,891 million-unit capacity across Nashik, Halol

Nobel Hygiene currently operates 14 manufacturing lines across Nashik and Halol, with an aggregate annual production capacity of nearly 1,891 million units. The company has built a distribution network spanning approximately 2.7 lakh retail outlets across 31 states and Union Territories.

Its distribution ecosystem includes nearly 300 stockists and more than 400 distributors, while its products are also exported to 19 countries, giving the company a presence beyond the domestic market.

Revenue rises 14.6%, profit jumps over eightfold

Nobel Hygiene's financial performance improved sharply in FY26. Revenue from operations rose 14.6% to ₹846.75 crore, compared with ₹739.14 crore in FY25.

More significantly, the company's profit surged to ₹18.91 crore in FY26 from ₹2.28 crore a year earlier, marking more than an eightfold increase.

ICICI Securities, Motilal Oswal Investment Advisors and SBI Capital Markets are the book-running lead managers for the proposed IPO.