Cult.fit files IPO papers
Analysis based on 27 articles · First reported Jul 06, 2026 · Last updated Jul 07, 2026
The IPO adds to a busy year for India's primary market, potentially boosting investor sentiment in the consumer wellness sector. However, continued losses and reliance on leased centres pose risks, and the large OFS may signal selling pressure from early investors.
Cult.fit, India's largest fitness chain, filed its draft red herring prospectus with SEBI on July 6, 2026, for an IPO comprising a fresh issue of up to ₹950 crore and an offer for sale of up to 178.6 million shares by existing shareholders. The company plans to use proceeds to expand its fitness centre network, repay debt, invest in subsidiary Cultsport, and for brand marketing. Key selling shareholders include Temasek, Fitness First, Chiratae Ventures, Tata Group — List of entities associated with Tata Group, Accel-KKR, Vani Kola, Schroders Capital, Mukesh Bansal, Bruno Raschle, and Hrithik Roshan. The IPO is managed by Axis Capital Holdings, Jefferies, JM Financial, Goldman Sachs, and Morgan Stanley. Cult.fit reported revenue of ₹1,720.6 crore in FY26, up 36% YoY, and a net loss of ₹251.9 crore, narrowing from ₹480.8 crore in FY25. The company operates 708 centres across 77 cities with over 987,000 paid members.
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