Cult.fit files DRHP for IPO; Hrithik Roshan among selling shareholders offloading 633,813 shares
Bengaluru-based fitness platform Cult.fit filed its DRHP with SEBI, seeking a Rs 950 crore fresh issue plus a 178.6 million share OFS. Selling shareholders include actor Hrithik Roshan and co-founder Mukesh Bansal. FY26 revenue rose 40% to Rs 1,721 crore, though net loss stood at Rs 252 crore. The company runs 708 fitness centres across 77 cities.
What happened
Fitness platform Cult.fit filed its DRHP with SEBI for an IPO comprising a Rs 950 crore fresh issue and OFS. Selling shareholders include actor Hrithik Roshan
Key facts
- Rs 950 crore fresh issue
- 178.6 million share OFS
- Hrithik Roshan selling 633,813 shares
- Rs 190 crore pre-IPO placement
- 708 fitness centres across 77 cities
- FY26 revenue Rs 1,721 crore
- FY26 net loss Rs 252 crore
Why this matters
The Rs 950 crore fresh issue plus large OFS marks a liquidity event for early backers and celebrity investors, opening a window for partnership, acquisition, or consolidation plays in India's fitness sector.
What to watch
- SEBI observation/approval on DRHP
- Price band and final valuation disclosure
- Subscription levels across QIB/HNI/retail on IPO days
- FY27 quarterly loss narrowing or center expansion pace
- Broader IPO market volatility and Nifty trajectory
- Watch for anchor investor commitments and roadshow demand signals
- Monitor peer fitness/wellness and loss-making consumer IPO performance for read-through
- Assess whether management guides toward EBITDA/PAT breakeven timeline
- Track scrutiny on high-profile celebrity OFS optics (Hrithik Roshan exit)