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Fitness services platform Cult.fit has received the Securities and Exchange Board of India’s (SEBI) approval to raise funds through initial public offering (IPO). The company’s proposed IPO comprises a fresh issue of equity shares worth up to Rs 950 crore and an offer for sale (OFS) of up to 17.86 crore equity shares by existing shareholders.

The selling shareholders include MacRitchie Investments, Fitness First Luxembourg SCA, IDG Ventures India Fund III LLC, Tata Digital, Chiratae Trust, Schroders Capital Private Equity Asia Mauritius IV Ltd, and Accel India V (Mauritius). Co-founder Mukesh Bansal and actor Hrithik Roshan are also among those offloading shares through the OFS.

The Bengaluru-headquartered company plans to use the proceeds from the fresh issue to repay or prepay certain borrowings, expand its fitness centre network, and invest in subsidiary Cultsport to establish new exclusive brand outlets. The funds will also be used for lease-related payments for existing centres, brand marketing and general corporate purposes. Axis Capital, Goldman Sachs (India) Securities, Jefferies India, JM Financial and Morgan Stanley India are the book-running lead managers to the issue. Shares of the company are proposed to be listed on the BSE and the NSE. 

Cult.fit, formerly Curefit Healthcare, is India's largest fitness and active lifestyle platform. As of March 31, 2026, the company operated 708 fitness centres across 77 cities.