IHCL Acquires Majority Stake in Atmantan Wellness: A $240 Crore Expansion Move

Indian Hotels Company Ltd (IHCL) is set to acquire a 51% stake in Sparsh Infratech, owner of the 'Atmantan' brand, for Rs 240 crore. This acquisition allows IHCL to expand its integrated wellness segment globally, beginning with a 97-key luxury wellness center in Mulshi, Pune.

Indian Hotels Company Ltd (IHCL) has announced its acquisition of a 51% stake in Sparsh Infratech, the owner of the wellness brand 'Atmantan', for Rs 240 crore. This strategic move marks IHCL's entry into the integrated wellness sector.

Puneet Chhatwal, Managing Director and CEO of IHCL, emphasized their plan to expand upon Atmantan's proprietary wellness programs. The acquisition will be partly financed through internal accrual and aims at establishing 5-10 Atmantan centers across the country over the next five years.

Founder-Director of Atmantan, Nikhil Kapur, welcomes the collaboration, viewing it as a means of building more healing centers both within India and internationally. The expansion will potentially require a capex of Rs 2,500-5,000 crore, shared between IHCL and interested investors.

(With inputs from agencies.)