Cult.fit gets SEBI nod for IPO
By Abha Lohia ·
Cult.fit: revenue, valuation and funding and every story →
- Cult.fit is a fitness platform co-founded by Myntra founder Mukesh Bansal, running gyms, classes and wellness services
- The market regulator issued observations on its draft papers on October 12, clearing the next step toward listing
- The IPO plans a ₹950 crore fresh issue plus a sale of shares by existing holders, and must launch within 12 months
What happened
- SEBI issued observations on Cult.fit's draft IPO papers.
- Date was October 12.
- Plan has a ₹950 crore fresh issue.
- Existing shareholders also plan an offer for sale.
Why it matters
- Observations let the firm move to the next IPO stage.
- Regular-route filers get 12 months to launch.
- Draft papers were filed in July.
The business
- Fitness and wellness platform.
- Co-founded by Mukesh Bansal.
- Offers gyms and workouts under the cult brand.
The founders
MB
Mukesh Bansal
Co-founder- Founded Myntra
In numbers
₹950 CrFresh issue · 2026
What happens next
- Launch the IPO within 12 months.
Words to know
- Offer for sale
- Existing shareholders sell their shares in the IPO.
Terms in this story
- IPO: An IPO, or initial public offering, is the first time a company sells its shares to the general public and gets listed on a stock exchange. In India the process is supervised by SEBI and ends with the shares trading on the NSE and BSE.
- Offer for sale: In a fresh issue, the company creates new shares and receives the money. In an offer for sale (OFS), existing shareholders sell shares they already own and the company receives nothing. Most Indian IPOs are a mix of the two.
- SEBI: The Securities and Exchange Board of India (SEBI) is the market regulator, and a startup meets it mostly when its investors are regulated funds or when it plans to list its shares. A private startup raising money from a few investors is usually governed by the Companies Act first.
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