Cult.fit IPO Coming Soon: Top 5 Things to Know About the Rs. 950 Crore Issue, Financials, Investors & Listing

India's largest fitness chain, Cult.fit has filed its draft red herring prospectus with SEBI, dated July 6th. The company, founded in 2016 in Bengaluru now runs more than 700 fitness centres across India and is most popular for its gym workouts, group classes & other sports activities.

1. Cult fit IPO Issue structure:

As per the DRHP, the offer consists of a fresh issue worth up to Rs. 950 crore, along with an offer for sale of up to 17.86 crore shares, with OFS proceeds going entirely to selling shareholders rather than the company. This is smaller than the earlier expected targets of Rs. 3,500 -4,000 crore.

2. Cult Fit IPO Bankers

For this IPO, five major institutions, including Axis Capital, Jefferies, JM Financial, Goldman Sachs, and Morgan Stanley are acting as the book-running lead managers

3. Cult Fit IPO Price Band & Listing

So far, the company has not announced any price and other dates like the listing, subscription and allotment dates. However, shares will be expectedly listed on both BSE and NSE post the allotment.

4. Cultfit Major Shareholders

The fitness firm has been jointly held by multiple shareholders, including Bollywood star Hrithik Roshan, who is an angel investor and the face of the brand.

As per multiple reports, some of the top investors selling their stake through this IPO include Mukesh Bansal, founder & CEO, Bruno Raschle and Hrithik Roshan, Tata Digital, Accel India, Kalaari Capital, Chiratae Ventures, Fitness First Luxembourg S.C.A., Schroders Capital, Doli Trading and Investments (an Asian Paints promoter entity), and hospitality company Sun N Sand, Temasek

5. CultFit Financials

In FY25, the year ending March 2025, the Operating revenue of the firm grew 31% YoY to Rs. 1,216 crore. EBITDA losses specifically narrowed from Rs. 209 crore to Rs.36 crore. The company turned EBITDA-positive in the last quarter of FY26, recording double-digit EBITDA improvement, after CEO Naresh Krishnaswamy had earlier said that the fitness-services vertical specifically would turn EBITDA-positive starting Q2 FY26