Cult.fit Files IPO Papers With ₹950 Crore Fresh Issue

Indian fitness and wellness company Cult.fit has filed draft papers for its initial public offering (IPO), proposing a fresh issue of equity shares worth up to ₹950 crore. The public issue will also include an Offer for Sale (OFS) of up to 17.86 crore shares by existing shareholders, according to the draft prospectus filed on Tuesday.

Invest in Indian Markets and Unlock Future Potential With 5paisa!

Open Account Now

The filing adds another name to India’s expanding IPO pipeline, with several large companies preparing to enter the primary market amid sustained investor interest in new listings.

Existing Investors to Dilute Stake

The OFS will see several existing investors pare their holdings in the company. Among the shareholders participating in the sale are Temasek, Schroders Capital and Germany-based fitness operator LifeFit Group.

Cult.fit has not disclosed the overall size of the IPO. However, media reports earlier this month suggested that the issue could be valued between ₹3,500 crore and ₹4,000 crore.

Since the OFS proceeds will go to the selling shareholders, only the funds raised through the fresh issue will be available to the company.

Funds to Support Expansion

Based on the DRHP document, the company has decided to deploy the funds raised through the fresh issue into its fitness network expansion, branding and marketing activities, and other corporate purposes.

As of March 31, 2026, the company operated 708 fitness centres across India and had more than 9.87 lakh paid members.

The company distributes memberships through multiple channels, including its digital platforms, corporate partnerships and direct enrolments at its fitness centres.

Sector Growth Drives Listing Plans

The IPO of Cult.fit has been filed at a time when the fitness and wellness sector in India is gaining from the rise in consumers’ spending on healthcare and wellness. Rising disposable income along with increased awareness about fitness has been helping boost the demand for health and wellness facilities in recent years.

This proposed listing will also be seen as a result of ongoing activity in the domestic primary market where firms from different sectors are reaching out to investors following improved market conditions.

A number of notable IPOs continue to be lined up, among which proposed public offerings of Jio Platforms and NSE have filed draft prospectuses.

With the filing of its DRHP, Cult.fit will now become another addition to the list of firms raising money from the stock market. The firm will go ahead with the IPO after receiving the required approvals, while information like price band, dates of offering and the amount of shares offered will be released closer to the launch date.