Harshavardhan Neotia, Chairman, Ambuja Neotia Group
Early this year the group had indicated starting preparatory work for the planned IPO to raise funds for its hotels vertical and there were talks of filing a draft prospectus by December-end.
“It is in abeyance at the moment,” Neotia told businessline in a chat over the weekend. The structuring of the hotel projects is still under process to bring it under one entity and make it ready for an IPO or be ready to receive money from a private equity. Both routes were open, he said.
The restructuring is expected to be completed by June next year. “Maybe by this time next year we will be at least in a position to file the red herring prospectus,” said Neotia, adding the rider that it could be private equity capital as well. “We don’t know, all we are saying is that the vehicle will be ready to attract investment.”
Currently the group has nine hotels of which seven are operating under the Taj brand, in a tie-up with the Indian Hotels Company, while another 15 under the partnership are in the pipeline that will come up over the next five years, Neotia said. Three properties are already under development.
The Neotia Group had acquired the Tree of Life brand in 2023 and subsequently brought in IHCL as a strategic partner, now holding the majority stake in Tree of Life.
Hotels expansion
Any funds raised in the IPO or through private equity capital will be used to fund the hotels expansion and will help in stepping up the pace. Neotia also made it clear that even without the capital raising, the hotel projects could proceed as it had rental income coming in from its malls.
“The only thing is that if we do the IPO… then we are able to do it faster. The state of the markets is also an important factor, we don’t know what the market will be one year from now.”
The Ambuja Neotia group’s business interests span real estate, hospitality, hospitals and malls.
Published on November 9, 2025
