Cult.fit IPO: Fitness Company Files Draft IPO Papers to Raise Rs 950 Crore via Fresh Issue
The Bengaluru-based company plans to use proceeds for debt repayment, new centres, lease payments, marketing and Cultsport expansion.
- On Monday, fitness services platform Cult filed preliminary papers with the Securities and Exchange Board of India for an initial public offering seeking to raise up to ₹950 crore.
- Participating in the offer-for-sale are existing investors including MacRitchie Investments, Fitness First Luxembourg, IDG Ventures, Mukesh Bansal, Tata Digital, Chiratae Ventures, Bruno Raschle, Schroders Private Equity, and Accel, offering nearly 178.6 million shares.
- The company plans to allocate ₹276.6 crore toward new fitness centres and ₹120 crore for debt repayment, building on FY26 revenue that reached ₹1,720.6 crore.
- With 708 fitness centres across 77 cities in India, the business model derives around 70% of its revenue from fitness services and the remaining 30% from products.
- Net loss narrowed significantly from ₹888.5 crore in FY24 to ₹251.9 crore in FY26, though the platform faces continued competition from local gyms, boutique studios, and digital fitness platforms.
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13 Articles
Cult.fit files DRHP for Rs 950 crore IPO to fund expansion
New Delhi: Fitness and wellness platform Cult.fit filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO), seeking to raise Rs 950 crore through a fresh issue of equity shares. The public issue will also include an offer for sale (OFS) of nearly 178.6 million shares by existing investors, including MacRitchie Investments, Fitness First Luxembourg, IDG Ventures, fou…
The Economic Times
Times of IndiaCult.fit IPO: Fitness company files draft IPO papers to raise Rs 950 crore via fresh issue
Cult.fit has filed draft papers for an IPO to raise up to Rs 950 crore through a fresh share issue, while existing investors will sell up to 17.86 crore shares via an OFS. The fitness and wellness company plans to use the proceeds to expand its network, strengthen branding and marketing, and tap growing demand in India's health and wellness sector.
Upcoming IPO: Cult.fit files draft papers with SEBI to raise ₹950 crore via IPO
Cult.fit has filed a draft red herring prospectus with SEBI for an IPO, featuring ₹950 crore in fresh equity and an offer-for-sale of 17.86 crore shares. Funds from the fresh issue aim to cover fitness centre expenses, repay borrowings, and support marketing initiatives.
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