Cult.fit secures SEBI nod for ₹3,500-4,000 Cr IPO

Markets regulator SEBI has given its go-ahead for an initial public offering by fitness startup Cult.fit, reportedly worth ₹3,500-4,000 crore. The proposed IPO includes a fresh issue of shares worth ₹950 crore and an offer for sale (OFS) of up to 178.6 million shares by existing investors and shareholders.

Reports suggest the final issue size will depend on the price band, which has yet to be determined. Investors divesting stakes are said to include Chiratae, Temasek, Fitness First, Tata Digital, Accel, Kalaari Capital, and cofounder Mukesh Bansal. Chiratae is reportedly planning to sell up to 28.1 million shares through two funds, while Temasek may offload up to 24.7 million shares.

The development follows other recent SEBI approvals for Indian startups seeking public listings. Cult.fit, which offers gyms, fitness studios, and mental wellness services, has been among the companies exploring public markets amid evolving investor interest in the health and wellness space.

For stakeholders, the offering could provide insight into demand for such businesses, particularly as early backers look to exit. The next steps will involve setting the price band and determining the timing of the listing.

Sources: inc42.com · economictimes.indiatimes.com