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Indian Hotels Company Ltd (IHCL) recently confirmed that it had entered agreements to acquire a 51 per cent stake in Sparsh Infratech, the parent company of the wellness brand Atmantan, for around INR 240 crore. IHCL indicated that the investment would be funded through internal accruals and would give the hospitality group ownership of the brand, its 97-key luxury wellness retreat in Mulshi near Pune, and its proprietary programmes. The company conveyed that the partnership with founders Sharmilee and Nikhil Kapur would support its long-term strategy of expanding its integrated wellness portfolio across key destinations in India and abroad.
Indian Hotels Company Ltd (IHCL) recently announced that it had signed agreements to acquire a 51 per cent stake in Sparsh Infratech, the parent company of the Atmantan brand, for nearly INR 240 crore. The company mentioned that this investment would be financed through internal accruals. IHCL Managing Director and Chief Executive Officer Puneet Chhatwal explained that the partnership with founders Sharmilee and Nikhil Kapur brought together Atmantan's proprietary wellness programmes with IHCL's vision to enter and scale its presence in the integrated wellness sector across select global destinations, including locations already within its existing portfolio. Advertisement
The acquisition provides IHCL ownership of the Atmantan brand, its 97-key luxury wellness retreat in Mulshi near Pune, and its specialised expertise. According to the company, these assets will enable IHCL to jointly expand the wellness platform in collaboration with the founding promoters. Chhatwal stated that the company was considering expanding the Atmantan portfolio to between five and ten centres over the next five years, exploring destinations such as Kerala, eastern and northeastern states, and one or two locations in northern regions like Uttarakhand, Himachal Pradesh, or Jammu and Kashmir, along with potential sites in the Aravalli range in Rajasthan.
Discussing the overall capital expenditure required for these wellness developments, Chhatwal noted that it was expected to range between INR 2,500 crore and INR 5,000 crore. He mentioned that IHCL would contribute around half of the investment, while the remaining amount was likely to come from investors interested in supporting the newly acquired brand. When asked about rebranding, Chhatwal explained that the name Atmantan represented the alignment of mind, body, and soul, adding that the brand's inherent strength made a change unnecessary.
Nikhil Kapur, Founder-Director of Atmantan Wellness Centre, said the company had originally been established with the purpose of creating healing and wellness destinations in India and overseas. He added that Atmantan had been their first project and that the new joint venture would enable them to develop additional centres, with plans to explore opportunities both domestically and internationally.
Source - PTI
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