Debasis Mohapatra
Bengaluru, 7 July 2026
Fitness company, Cult.fit has filed its draft red herring prospectus (DRHP) with the market regulator, Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO).
According to the prospectus, the company is planning to issue fresh equity shares worth up to Rs 950 crore and an offer for sale (OFS) by existing shareholders. Shareholders will collectively sell up to 17.86 crore equity shares through the OFS, the prospectus showed.
Under the OFS, Temasek arm MacRitchie Investments is offloading up to 2.47 crore shares, the largest tranche in the OFS. Other sellers include Fitness First Luxembourg, IDG Ventures India, Tata Digital, the Chiratae Trust, Accel entities, Kalaari Capital and Schroders Capital. Co-founder Mukesh Bansal is selling up to 1.6 crore shares.
According to reports, the company is estimated to have reported a revenue of around Rs 1,700 crore, which was an increase of around 40% over the previous financial year. Premium hybrid subscription plans saw a strong growth during the last financial year, reports showed.
However, the company reported net loss during the previous financial year.
Out of the total revenue, fitness services accounted for around 70% of revenue, while the direct-to-consumer (D2C) business contributed the rest 30%.
According to the company, the fitness segment serves around one million paid active subscribers across more than 75 cities, while its D2C brand, Cultsport, shipped over four million units during FY26, as per reports.
So far, the fitness company has raised more than $714 million across 16 funding rounds. It was last valued at around $1.5 billion after the company raised a $47.6 million Series G funding round in March 2026.
