Cult.fit files DRHP with SEBI for to launch its IPO; check details
Cult.fit, previously Curefit Healthcare, has filed its draft red herring prospectus with the SEBI to launch its IPO.
- Jul 7, 2026,
- Updated Jul 7, 2026 4:14 PM IST
Cult.fit, previously Curefit Healthcare, has filed its draft red herring prospectus with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO). The issue comprises a fresh issue of equity shares aggregating up to Rs 950 crore and an offer for sale of up to 17,86,09,200 equity shares by selling shareholders. The face value of each share is Re 1.
The company plans to use the net proceeds from the fresh issue towards repayment or prepayment of certain borrowings, capital expenditure for new Cult Elite and Cult Neo centres, investment in subsidiary Cultsport for new Exclusive Brand Outlets, payments related to lease, rent and licence agreements for existing identified centres, brand marketing and business promotion, and general corporate purposes.
Cult.fit was India’s largest fitness and active lifestyle platform by the number of fitness centres in its network as of March 31, 2026, said a Redseer report. It had 708 fitness centres across 77 cities, a scale that was four times that of the next largest player. In FY26, it had a transacting base of 987,020 paid members in its fitness services business and shipped more than 4.23 million products.
Cult.fit said it operates an integrated platform through the cult.Fit app, website and other online and offline channels, and is the only platform in India with a presence across both fitness services and fitness products as of March 31, 2026, according to Redseer. Its revenue mix is diversified, with fitness services contributing about 70 per cent of revenue and fitness products contributing the remaining 30 per cent.
Revenue from operations rose from Rs 926.66 crore in FY24 to Rs 1,720.61 crore in FY26. Adjusted EBITDA margin improved from -2.76 per cent in FY25 to 8.41 per cent in FY26. Cult Elite offers equipment-based gym workouts and trainer-led group classes, while Cult Neo is positioned as a pro-segment gym format.
The company also sells apparel, footwear, equipment, recovery products, fitness accessories and cycles. The equity shares are proposed to be listed on the BSE and NSE. Axis Capital, Goldman Sachs India Securities, Jefferies India, JM Financial and Morgan Stanley India are the book running lead managers to the issue. Shares shall be listed on both BSE and NSE.
Cult.fit, previously Curefit Healthcare, has filed its draft red herring prospectus with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO). The issue comprises a fresh issue of equity shares aggregating up to Rs 950 crore and an offer for sale of up to 17,86,09,200 equity shares by selling shareholders. The face value of each share is Re 1.
The company plans to use the net proceeds from the fresh issue towards repayment or prepayment of certain borrowings, capital expenditure for new Cult Elite and Cult Neo centres, investment in subsidiary Cultsport for new Exclusive Brand Outlets, payments related to lease, rent and licence agreements for existing identified centres, brand marketing and business promotion, and general corporate purposes.
Cult.fit was India’s largest fitness and active lifestyle platform by the number of fitness centres in its network as of March 31, 2026, said a Redseer report. It had 708 fitness centres across 77 cities, a scale that was four times that of the next largest player. In FY26, it had a transacting base of 987,020 paid members in its fitness services business and shipped more than 4.23 million products.
Cult.fit said it operates an integrated platform through the cult.Fit app, website and other online and offline channels, and is the only platform in India with a presence across both fitness services and fitness products as of March 31, 2026, according to Redseer. Its revenue mix is diversified, with fitness services contributing about 70 per cent of revenue and fitness products contributing the remaining 30 per cent.
Revenue from operations rose from Rs 926.66 crore in FY24 to Rs 1,720.61 crore in FY26. Adjusted EBITDA margin improved from -2.76 per cent in FY25 to 8.41 per cent in FY26. Cult Elite offers equipment-based gym workouts and trainer-led group classes, while Cult Neo is positioned as a pro-segment gym format.
The company also sells apparel, footwear, equipment, recovery products, fitness accessories and cycles. The equity shares are proposed to be listed on the BSE and NSE. Axis Capital, Goldman Sachs India Securities, Jefferies India, JM Financial and Morgan Stanley India are the book running lead managers to the issue. Shares shall be listed on both BSE and NSE.