Cult.fit Files Draft Papers For IPO With ₹950 Cr Fresh Issue

Fitness unicorn Cult.fit has filed its draft red herring prospectus (DRHP) to raise over ₹950 Cr through its IPO. The public issue will comprise a fresh issue of shares worth up to ₹950 Cr and an offer for sale of up to 17.86 Cr shares.

Temasek Holdings, via MacRitchie Investments, Schroders Capital, German fitness operator LifeFit Group, Accel, Tata Digital and cofounder Mukesh Bansal are among the shareholders who plan to offload shares via the OFS.

Last month, it was reported that the Eternal-backed gym franchise operator was looking to raise ₹3,500 Cr to ₹4,000 Cr from the public issue at a valuation of about $2 Bn.

Cult.fit operates a chain of gyms and fitness centres and offers online classes for physical and mental wellbeing. It operated 708 fitness centres across India and had more than ​9.87 Lakh ​paid members as of March 31, 2026.

The company also earns revenue from sale of active lifestyle and fitness products such as fitness equipment, recovery products like massagers, fitness accessories, as well as activewear products such as apparel and footwear.

Notably, the cofounders do not hold executive positions at the startup anymore, with Cult.fit being helmed by CEO Naresh Krishnaswamy.

In FY26, it posted an operating revenue of ₹1,720.6 Cr and a net loss of ₹251. Cr.

(The story will be updated soon)

The post Cult.fit Files Draft Papers For IPO With ₹950 Cr Fresh Issue appeared first on Inc42 Media.