Disposable hygiene products maker Nobel Hygiene has converted itself into a public company, signalling its preparations for a public market debut in the coming months. According to regulatory filings accessed by Entrackr, the company's shareholders have passed a special resolution to approve the change of its name from "Nobel Hygiene Private Limited" to "Nobel Hygiene Limited" as part of its conversion into a public company. The development comes weeks afterreportsindicated that Nobel Hygiene is evaluating an IPO that could raise around $300 million (approximately Rs 2,500 crore). The proposed issue is expected to comprise a mix of fresh shares and an offer-for-sale component. Founded in 2000 by Kamal Johari, Nobel Hygiene manufactures baby diapers, adult diapers, underpads, maternity pads and other disposable hygiene products. The company is best known for its flagship baby diaper brand Teddy and adult diaper brand Friends. Nobel Hygiene states that it operates pan-India with a strong network of over 1,000 dealers and distributors, and has built a commanding presence in e-commerce. The company also exports to over 30 countries across the globe. The Mumbai-based company has raised around $68 million to date from investors including Quadria Capital, Sixth Sense Ventures, Neo Asset Management, and Access Asset Managers. Its latest funding round saw Neo Asset Management invest$20 millionthrough a combination of primary and secondary transactions. Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever. You may find a list of our investorshere.
