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Nobel Hygiene, a manufacturer of disposable hygiene products, has raised around Rs 450-Rs 500 crore from investors led by healthcare-focused private equity fund Quadria Capital.

After the latest funding, Quadria will own a significant minority stake in the company after PE investors CLSA Capital Partners, Access India fund, and its co-investors exited their investment in the startup.

Quadria Capital now becomes the largest minority shareholder, adding a consumer healthcare-focused company into its portfolio. Sixth Sense Ventures, a domestic consumer-centric venture fund, will invest alongside Quadria, the comapny said.

Kamal Johari, Managing Director and CEO, Nobel Hygiene, said,

“We are delighted to begin this new phase in Nobel’s journey. While the funds come just in time to help us further accelerate our growth plan, we continue to grow on the strength of our own P&L with minimal primary money.”

“With the per capita income of Indians climbing towards $3,000, we expect a substantial jump in discretionary spending by Indians, which will result in substantial growth in the hygiene market also. With our current expansion in Halol (Gujarat), in conjunction with a slew of hires made in our leadership team, we are rightly placed to take advantage of this market expansion.”

Promoted by Kamal Kumar Johari, Nobel Hygiene was India’s first maker of adult diapers, and today has over 50 percent market share in the adult disposable hygiene space.

Amit Varma, Managing Partner and Co-founder, Quadria Capital, added,

“India significantly lags behind its peers in the usage and adoption of personal and disposable hygiene products, a stark difference, which was further accentuated with the devastating impact of the pandemic.

Nobel Hygiene has done a tremendous job in building a platform that has been at the forefront of providing reliable, high quality, and affordable disposable hygiene products over the last 20 years. Quadria is very excited to partner with Nobel Hygiene in its journey of increasing the accessibility of disposable hygiene products across the country.”