Cult.fit files DRHP with Sebi for IPO worth ₹950 crore plus OFS

New Delhi: Fitness services platform Cult.fit Ltd has filed preliminary papers with markets regulator Sebi to raise funds through an Initial Public Offering (IPO).

According to the Draft Red Herring Prospectus (DRHP) filed on Monday, the proposed IPO comprises a fresh issue of equity shares worth up to ₹950 crore and an Offer-For-Sale (OFS) of up to 17.86 crore equity shares by existing shareholders.

The Bengaluru-based company, run by Cure.fit Healthcare, offers gym memberships, group workouts, online fitness, and mental wellness services under the Cult.fit brand.

Proceeds from the fresh issue are likely to be used for expansion, debt repayment, and general corporate purposes, as per standard DRHP disclosures.

The IPO will be subject to regulatory approvals and market conditions. Lead managers and other details have not yet been disclosed by the company.