Neo Asset Management's $20 Million Boost for Nobel Hygiene

Neo Asset Management made headlines on Thursday with its announcement of a USD 20 million investment in Nobel Hygiene, an adult diaper manufacturer. The investment entails fresh share issuance and secondary investments, aiming to bolster the company's distribution reach and market penetration.

Nobel Hygiene, eyeing an initial public offering, previously secured funds from Quadria Capital and Sixth Sense Ventures. The infusion from Neo will also support brand investments, as Nobel Hygiene strives to reduce the stigma associated with elder care through their flagship brand, Friends.

Neo Asset Management manages over Rs 11,000 crore in alternative assets, tailoring investment solutions for ultra-high net-worth individuals and institutions. Nitin Agarwal, head of Neo's private equity, expressed confidence in the partnership with Nobel, while Kamal Johari, Nobel's managing director, emphasized their commitment to leading the adult diaper industry in India.

(With inputs from agencies.)