On July 7, 2026, Cult.fit submitted its draft red herring prospectus for an initial public offering (IPO) to the Securities and Exchange Board of India (SEBI), as per The Economic Times news report.
This includes a fresh issue of shares and an offer for sale (OFS) by current investors.
As per the report, the IPO will consist of a fresh issue of shares. Existing investors like Chiratae, Temasek, Fitness First, and Tata Digital plan to sell the shares.
Actor Hrithik Roshan is also selling part of his stake. Cult.fit likely conduct a pre-IPO placement, which could decrease the size of the fresh issue.
As per the report, Cult.fit intends to allocate ₹276.6 crore from the fresh issue to establish new Cult Elite and Cult Neo centres. Additionally, ₹217.5 crore will go towards lease and rent for current centres, and ₹120 crore to repay borrowings.
A total of ₹75 crore is earmarked for brand marketing, while ₹23.4 crore is designated for investing in Cultsport. The remaining funds will serve general corporate purposes.
In the fiscal year ending March 31, 2026, Cult.fit recorded revenue of ₹1,720.6 crore, a rise of 41.6% from the previous year’s ₹1,215.5 crore.
The company cut its losses to ₹251.9 crore from ₹480.8 crore in the prior year. Adjusted EBITDA improved to ₹144.8 crore, reflecting a margin of 8.41% compared to -2.76% in the previous year.
Read More: NSE IPO Update: Investor Roadshows Expected to Begin Next Week!
During FY26, fitness services contributed ₹1,197.8 crore, which is 69.6% of total revenue, while product sales accounted for ₹522.8 crore, or 30.4%. Cult.fit’s network encompasses 708 centres across 77 cities with 9,87,020 paid members as of March 2026, as per the report.
Cult.fit's IPO draft includes a fresh issue and offer for sale of shares. The company aims to use the proceeds for expansion and debt repayments. FY26 revenue increased by 41.6% to ₹1,720.6 crore as losses reduced to ₹251.9 crore.
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Published on: Jul 7, 2026, 3:55 PM IST
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