Cult.Fit files DRHP to raise Rs 950 Cr fresh issue plus 178.6M-share OFS

Cult.Fit filed draft IPO papers with SEBI for a Rs 950 Cr fresh issue alongside a 178.6M-share offer for sale. Proceeds target Rs 276.6 Cr for new centres, Rs 217.5 Cr on leases, Rs 120 Cr debt repayment, Rs 75 Cr marketing and Rs 23.4 Cr for Cultsport stores. FY26 revenue hit Rs 1,720.6 Cr with net loss narrowing to Rs 251.9 Cr.

— Source publishedTue, 7 Jul, 2026, 14:37 IST·First seen Tue, 7 Jul, 2026, 14:52 IST·Source YourStory

What happened

Cult.fit · Fitness and wellness brand Cult.Fit filed DRHP with SEBI to raise Rs 950 Cr via fresh issue plus OFS. Proceeds fund new centres, leases, debt,

Key facts

  • Rs 950 Cr fresh issue
  • 178.6M OFS shares
  • Rs 276.6 Cr new centres
  • Rs 217.5 Cr leases
  • Rs 120 Cr debt
  • Rs 75 Cr marketing
  • Rs 23.4 Cr Cultsport stores
  • FY26 revenue Rs 1,720.6 Cr
  • FY26 net loss Rs 251.9 Cr
  • products revenue Rs 522.8 Cr

Why this matters

The large 178.6M-share OFS alongside the fresh issue lets early backers cash out, signaling potential shifts in cap-table and openness to partnership or acquisition conversations around Cultsport's Rs 522.8 Cr product line.

What to watch

  • SEBI final observations and RHP price band
  • FY27 quarterly loss trajectory and EBITDA breakeven timeline
  • Cultsport revenue mix crossing 30%+ of total
  • Same-centre membership retention and unit economics disclosures
  • Broader IPO market sentiment and Nifty consumer index
  • Anchor investor roadshows and price band announcement post-SEBI observations
  • Peer fitness/wellness players and gym franchises accelerate own funding or expansion
  • Cultsport ramps offline store rollout to bolster product-revenue narrative
  • Existing PE/VC backers position exit timing via the OFS tranche

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