Cult.fit gets SEBI nod for IPO to fund fitness centre expansion

SEBI has approved the initial public offering (IPO) of fitness platform Cult.fit, allowing the Bengaluru-based company to move ahead with its proposed share sale, news agency Reuters reported. The Securities and Exchange Board of India (SEBI) issued its observations on the company’s draft IPO papers on Friday. Cult.fit filed its IPO papers in July, proposing to raise up to ₹950 crore through a fresh issue of shares. Existing shareholders will offload 17.86 crore equity shares through an offer for sale (OFS). Cult.fit plans to expand fitness centre network Cult.fit intends to use the proceeds from the fresh issue to establish new fitness centres and meet branding and marketing expenses. The company operates through several membership channels, including its app, website, corporate partnerships and direct sales at its fitness centres. As of March 31, 2026, Cult.fit operated 708 fitness centres across India and had more than 9.87 lakh paid members. The company describes itself as India’s largest fitness and active lifestyle platform, with operations across 77 cities. ALSO READThe Rs 10 Lakh Cr digital giant: Is Jio Platforms’ 34x P/E band built for a rerating? Temasek-backed investor among shareholders selling shares The proposed OFS will include shares held by several existing investors, including MacRitchie Investments, backed by Temasek Holdings, Fitness First Luxembourg, IDG Ventures India Fund, Tata Digital, Chiratae Trust, Schroders Capital, Twenty Nine Capital Partners and Accel India V (Mauritius). Cult.fit counts Temasek, Accel and Schroders among its prominent investors. The OFS will allow these shareholders to sell part of their holdings, while the fresh issue will provide funds directly to the company for its expansion plans. ALSO READTonbo Imaging IPO: 71% GMP signals big gain; Brokerage decode the defence moat Axis Capital, Goldman Sachs to manage IPO Axis Capital and Goldman Sachs are among the book-running lead managers for the proposed public issue. SEBI’s observations mark an important step in the IPO process, although the approval does not necessarily mean the company will launch the issue immediately. The timing and other details of the public offering will depend on the company’s plans and applicable regulatory requirements.

Cult.fit gets SEBI nod for IPO to fund fitness centre expansion

Related Articles

Trust Mutual Fund, Carnelian Asset, Abakkus buy over 3% stake in SFC Environmental Technologies on listing day

Down 38% in 2026, Aditya Birla Real Estate gets Buy rating from Anand Rathi; 30% upside see

BLS International Q2 results: Record revenue on Digital Services growth, but can strong earnings revive shares?

Trending Now

Latest News

Related Articles

Trust Mutual Fund, Carnelian Asset, Abakkus buy over 3% stake in SFC Environmental Technologies on listing day
SFC Environmental Technologies shares made a strong debut, surging 29.12 percent to Rs 426.10 against the IPO issue pric…

Down 38% in 2026, Aditya Birla Real Estate gets Buy rating from Anand Rathi; 30% upside see
Anand Rathi initiated coverage of Aditya Birla Real Estate with a Buy rating and a ₹1,345 target, implying 30% upside.…

BLS International Q2 results: Record revenue on Digital Services growth, but can strong earnings revive shares?
BLS International reported record Q2 FY27 revenue of ₹973 crore, up 32% year-on-year, with growth in Visa and Consular…