Fitness and wellness platform Cult.fit has taken a major step towards its stock market debut by filing draft papers with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO). The company plans to raise ₹950 crore through a fresh issue of equity shares, while several existing investors will partially exit through an offer for sale (OFS).
The proposed OFS will see early backers, including private equity and venture capital investors, sell part of their holdings. However, Cult.fit itself will not receive any proceeds from this portion of the issue. The funds raised through the fresh issue will be used to expand the company’s fitness centre network, invest in technology, strengthen its digital platform and support general corporate purposes.
Founded by Mukesh Bansal and Ankit Nagori, Cult.fit has evolved into one of India’s leading health and wellness platforms, offering gym memberships, group fitness classes, sports facilities, mental wellness services and nutrition products through both physical centres and its digital ecosystem.
The IPO comes as the company continues to improve its financial performance. Cult.fit has significantly reduced its losses over the past few years through tighter cost controls and improved operational efficiency, while maintaining steady revenue growth. The company has also expanded its offline presence across multiple Indian cities and strengthened its online offerings to attract a wider customer base.
India’s primary market has witnessed renewed momentum in recent months, with several consumer technology startups tapping public markets. Cult.fit’s proposed listing is expected to test investor appetite for businesses operating in the rapidly growing fitness and preventive healthcare segment.
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