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Mumbai: Fitness and active lifestyle platform Cult.fit has officially filed its Draft Red Herring Prospectus (DRHP) with SEBI as it looks to raise fresh equity of ₹950 crore along with an Offer For Sale(OFS) of up to 17.86 crore equity shares by existing shareholde₹ With this, the total issue size could reach up to ₹4,000 crore, depending on the final pricing band.
The company is aiming to settle its debt of about ₹120 crore, use ₹217.5 crore towards lease and rental payments for its existing center, with another ₹75 crore being spent on brand marketing and promotion. The remaining will be used for general corporate purposes.
Existing shareholders, including Tata Digital, Accel India, Kalaari Capital, Chitratae Ventures and Temasek, are looking to sell up to 17.86 crore shares through the OFS component. Other shareholders, including actor Hritik Roshan’s HRX investment arm Extreme Brands, former Myntra CEO Ananth Narayanan’s family trust and Sateesh Andra’s Endiya Partners, are also looking to sell their investments in the company.
However, food delivery giant Eternal (formerly Zomato) is retaining its 6.4% current stake in the issue.
No timeline has been shared for the IPO yet, but the company has worked to substantially reduce its losses from ₹888 crore in FY24 to ₹252 crore in FY26, with its revenues growing roughly 40% to ₹1,721 crore in FY26 from ₹1,216 crore in the previous year. The company generates about 70% of its revenues from fitness subscriptions and services, while the remaining 30% comes from its transaction-based fitness product division.
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