Step 1: Understand what Vantara is.
Vantara, meaning "Star of the Forest," is a large-scale wildlife rescue and rehabilitation initiative spanning approximately 3,000 acres; it houses over 200 elephants and thousands of other rescued animals from across India and abroad.
Step 2: Identify its location.
Vantara is located in Jamnagar, Gujarat; it is backed by the Reliance Foundation and was spearheaded by Anant Ambani as a significant private conservation effort focused on animal welfare.
Step 3: Eliminate other options.
Jaipur, Hyderabad, and Bhopal are not associated with this initiative; Jamnagar in Gujarat is the correct and only location where Vantara operates, making option (2) the answer.
\[ \boxed{\text{Jamnagar}} \]