Nobel Hygiene has announced that it has secured around Rs 450 crore in funding led by Quadria Capital, a private equity fund focused on healthcare. Quadria, with the latest investment, will also hold a minority stake in the firm.
Speaking on the investment, Kamal Johari, Managing Director and CEO, Nobel Hygiene, commented, “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.”
Amit Varma, Managing Partner and Co-founder, Quadria Capital, said, “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.”
Amit added, “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.”
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