Tata Digital to sell ~46% Cult.fit stake in IPO, its first new-age exit

Tata Digital plans to pare its Cult.fit holding by ~15.9 million shares (~46%) in the fitness chain's upcoming IPO, marking its first partial exit from a new-age bet. Cult.fit targets a ~₹15,000 crore valuation despite FY26 losses of ₹252 crore on ₹1,721 crore revenue.

— Source publishedThu, 9 Jul, 2026, 09:02 IST·First seen Thu, 9 Jul, 2026, 09:08 IST·Source Mint

What happened

Tata Digital will sell about half its Cult.fit stake in the fitness chain's upcoming IPO, its first partial exit from a new-age investment. Cult.fit seeks

Key facts

  • ₹360 crore invested (2021)
  • ₹15,000 crore valuation
  • 15.9 million shares (~46% stake) to be sold
  • FY26 revenue ₹1,721 crore
  • FY26 loss ₹252 crore
  • ₹304 per CCPS acquisition
  • $10.3 billion Tata Digital valuation

Why this matters

Tata Digital's first new-age exit—paring ~46% (~15.9M shares) of Cult.fit—signals a shift toward monetizing early bets and reshaping its portfolio strategy.

What to watch

  • Final IPO price band vs ₹15,000cr target
  • OFS vs fresh-issue split and Tata Digital's realized exit price
  • FY26/H1 unit-economics and burn-rate updates
  • Anchor allotment quality (long-only vs hedge funds)
  • Broader new-age IPO sentiment and secondary-market listing performance
  • Anchor book building and DRHP price band disclosure
  • Other early investors (Accel, Temasek, Zomato) signal partial exits alongside Tata
  • Cult.fit accelerates path-to-profitability narrative pre-listing
  • Competitors (HealthifyMe, Fitternity legacy, gym chains) reprice or seek funding

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