Cult.fit Files DRHP With SEBI for IPO Featuring Rs 950 Crore Fresh Issue

How the Company Plans to Use the Funds

According to the filing, Cult.fit intends to allocate Rs 217.5 crore toward lease and rental payments for its existing fitness centres. Another Rs 120 crore will be used to repay or prepay borrowings, while Rs 75 crore has been earmarked for brand marketing and business promotion. The remaining proceeds will support general corporate purposes.

Investors Set to Sell Shares

Temasek backed MacRitchie Investments will be the largest shareholder participating in the Offer For Sale. Other investors selling shares include Tata Digital, Accel, Kalaari Capital, Chiratae Ventures, Fitness First Luxembourg, IDG Ventures India, Schroders Capital, and co founder Mukesh Bansal.

Building One of India’s Largest Fitness Platforms

Founded in 2016 by Mukesh Bansal and Ankit Nagori, Cult.fit has grown into one of India’s leading fitness and wellness companies. The platform operates more than 700 fitness centres across India and has expanded into sports products through Cultsport and healthcare services through Care.fit.

Growth Continues as Profitability Remains in Focus

The company has raised more than 714 million dollars across multiple funding rounds and was last valued at around Rs 12600 crore. It is estimated to have generated nearly Rs 1700 crore in revenue during FY26, driven largely by its fitness business. Even with strong revenue growth, the company continues to report net losses, making profitability an important factor for investors as it prepares for listing.

Strengthening Governance Before Listing

Ahead of the IPO filing, Cult.fit expanded its board by appointing several independent directors to strengthen corporate governance and meet regulatory requirements for a public company.