IHCL to acquire 51% stake in wellness brand Atmantan for ₹240 crore

The transaction will entail a primary investment of Rs 205 crore and a secondary share purchase of Rs 35 crore

Indian Hotels Company Ltd (IHCL), the parent of Taj hotels, on Friday announced that it will acquire a controlling stake of 51 per cent in Sparsh Infratech Private Ltd, which operates Atmantan wellness resort in Maharashtra, for ₹240 crore.

 

The move marks IHCL's entry into the integrated wellness space. Located in Mulshi near Pune, Atmantan is a leading integrated wellness destination. Spread over 36 acres, the 97-key luxury centre offers transformative programmes rooted in ayurveda, yoga, Indian naturopathy, physiotherapy, nutrition, counselling, coaching, and fitness.

 

The transaction will entail primary investment of ₹205 crore and a secondary share purchase of ₹35 crore. The enterprise value of the target company for the transaction is estimated at ₹415 crore. The company recorded a revenue of ₹76.7 crore in 2025-26 (FY25).

 

"The growing wellness tourism market is witnessing a convergence of health and hospitality, and increasing number of travellers are seeking immersive wellness experiences that go beyond conventional treatments and therapies. The integrated wellness space is beginning to pick up, and growing competition in the space helps us. We are continuously identifying white spaces, and finding the right partnerships to fill those, in line with our 2030 strategy," Puneet Chhatwal, managing director and chief executive officer (MD&CEO), IHCL, told Business Standard.

 

IHCL's “Accelerate 2030” strategy includes plans to reach a portfolio of 700 hotels by 2030, and doubling its consolidated revenue to ₹15,000 crore.

 

"This is a niche business where quality is far more important than quantity. As we learn more, we can have five to ten such assets in the coming five years," Chhatwal added.

 

The move also opens cross-selling opportunities with IHCL's own wellness-focused brand J Wellness Circle.

 

"India has a rich tradition of old medical systems. The healing that we do is deeper and has more visible effects. We always wanted to expand more, and by joining hands with IHCL, we can develop world-class healing centres in new destinations," said Nikhil Kapur, founder-director, Atmantan Wellness Centre.

 

"We look forward to integration with IHCL's membership and loyalty programme, which will open up a lot many opportunities for us in all parts of the country and overseas as well," he further said, adding that the brand will be expanding to Hyderabad with a 100-odd key property by 2028-29, and also to Kerala.