Cult.fit submits IPO application aiming to raise up to ₹950 crore

Indian fitness company Cult.fit has submitted its Draft Red Herring Prospectus (DRHP) to the Securities and Exchange Board of India (SEBI) in preparation for an initial public offering (IPO). The company aims to raise up to ₹950 crore (approximately $114 million) through a fresh issue of equity shares.

Cult.fit, a prominent player in the fitness sector, has seen significant financial growth, reporting a revenue of ₹1,720 crore for fiscal year 2026. The company has also achieved a positive Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) margin, indicating improving profitability as it expands its operations across various fitness offerings, including gyms, digital fitness services, and nutrition.

This IPO marks a critical milestone for Cult.fit, signifying its intention to scale further and tap into the growing demand for fitness and wellness products in India. The fitness industry has been on an upward trend, driven by increased health awareness and a shift towards maintaining a healthy lifestyle amongst the population.

In addition to Cult.fits filing, recent approvals from SEBI also include proposals from Manipal Health and Rentomojo, reflecting a surge in economic activities and interest in public equity markets in India. The fitness industry’s movement towards public offering highlights the increasing recognition of the sector’s potential for growth and innovation.