Cult.fit files DRHP with SEBI for Rs 950 Cr fresh issue plus 17.86 Cr share OFS
Fitness platform Cult.fit has filed its draft prospectus for an IPO combining a Rs 950 crore fresh issue with a 17.86 crore share OFS. It runs 700+ fitness centres and posted ~Rs 1,700 crore FY26 revenue, targeting a ~Rs 12,600 crore valuation. Proceeds fund lease costs, debt repayment and marketing.
What happened
Fitness and wellness platform Cult.fit filed its DRHP with SEBI for an IPO comprising a Rs 950 crore fresh issue and 17.86 crore share OFS. It operates 700+
Key facts
- Rs 950 Cr fresh issue
- 17.86 Cr share OFS
- Rs 190 Cr pre-IPO placement
- Rs 217.5 Cr lease/rental
- Rs 120 Cr debt repayment
- Rs 75 Cr marketing
- 700+ fitness centres
- Rs 1,700 Cr FY26 revenue
- Rs 12,600 Cr valuation
- $714M raised
Why this matters
Cult.fit's public-market entry sets a valuation benchmark for the fitness-and-wellness category, opening consolidation and partnership windows for players eyeing India's organized fitness market.
What to watch
- SEBI observations and final RHP price band
- FY26/FY27 EBITDA and same-centre revenue disclosures
- Anchor book composition and subscription levels across QIB/HNI/retail
- Lease liability and debt figures in the DRHP
- Grey-market premium trend ahead of listing
- Cult.fit intensifies marketing and centre expansion to show FY27 growth momentum pre-listing
- Comparable listed consumer/wellness peers get re-rated as valuation benchmarks
- Existing PE/VC backers (Tata Digital, Accel, Temasek) position for partial OFS exits
- Competitors (Anytime Fitness, gym chains, home-fitness apps) reassess pricing and expansion
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