Please follow below steps to enable hotspot in New iPad
( Carrier is the Data/Sim service provider)
1. Check the carrier, it should 12.1 as below
A) Setting>General>About>Carrier ..... It should be "Carrier12.0"
B) Click on "Carrier12.0", it should show "PRL 1"
2. Carrer should be 3G ..... Left hand side top corner will show that or contact with your carrier to enable it.
3. Now reset network setting as below
A) Setting>General>Reset>Reset Network Settings.... Provide the password if you have (unlock password)
B) It will reset, wait till come up.
4. Set the APN as below
A) Settings>Cellular Data>APN Settings
B) Type your carrier name in "APN" below "Cellular Data"
C) Type again carrier name in "APN" below "Internet Tethering" on same screen.
(I believe even it should work if you will type anything, but both should same or may be different.)
5. Now you will see personal hotspot in below place
A) Setting>General>Network>Personal Hotspot
6. Now switch on Hotspot and set wifi password
7. Enjoy
It work for me with Airtel (India) carrier . Do some RnD, you may omit few steps.
Thanks,
Umakanta
Usamantaray@gmail.com