The reformulated soap has dispensed with its traditional perfume fragrance and has been transformed into milled toilet soap. HLL has also added the Active-B ingredient as protection against germs that cause stomach and eye infections.
It has also shifted the positioning towards family health protection, targeting housewives, the key decision-makers on household purchases.
Lifebuoy had previously positioned itself for a male-oriented 'success through health' theme.
Sanjay Dube, mass market head of HLL's detergent profit centre, said: "The brick red soap, with its perfume and popular Lifebuoy jingle, has carried the Lifebuoy message of health across the length and breadth of the country.
"But we researched and developed this new mix to maintain Lifebuoy's leadership position and strengthen its benefits of health to larger sections of consumers."
According to Dube, a new fragrance has been introduced following wide-ranging research and testing to ensure a universal appeal without alienating existing users.
The new Lifebuoy range includes Lifebuoy Active (Red and Orange) for price-conscious consumers and Lifebuoy International (Plus and Gold), aimed at the higher end of the market.
The television campaign, developed by Lowe Worldwide, shows a passenger in a car lamenting the fact that nothing ever changes, prompting the driver to remark: 'Lifebuoy has changed.'
This is followed by the message, 'Yes, Lifebuoy has changed. Fragrance has changed. Freshness has changed'. Taken a bath with the new Lifebuoy?'