Fitness services platform Cult.fit has filed preliminary papers with capital markets regulator Securities and Exchange Board of India (SEBI) to raise funds through an Initial Public Offering (IPO). The proposed IPO comprises a fresh issue of equity shares worth up to Rs 950 crore and an offer-for-sale (OFS) of up to 17.86 crore equity shares by existing shareholders.
The company proposes to utilise the proceeds from the fresh issue towards repayment or prepayment of certain borrowings, expansion of its fitness centre network, investment in subsidiary Cultsport for setting up new exclusive brand outlets, lease-related payments for existing centres, brand marketing and general corporate purposes. Axis Capital, Goldman Sachs (India) Securities, Jefferies India, JM Financial and Morgan Stanley India are the book-running lead managers to the issue.
Cult.fit, formerly Curefit Healthcare, is India's largest fitness and active lifestyle platform. As of March 31, 2026, the company operated 708 fitness centres across 77 cities.
