Madras HC hears CULT trademark challenge before Cult.fit IPO
By Abha Lohia · Editor ·
Cult.fit: revenue, valuation and funding and every story →
BengaluruFounded 2016
- Cult.fit runs gyms, group workouts and wellness services across Indian cities and is preparing to list its shares on the stock market
- A co-founder of the original 2015 CULT business has asked the Madras High Court to cancel the brand's trademark registration held by a Cult.fit subsidiary
- The court sent notice to the owner and set the next hearing for December 2; a separate Bengaluru suit alleges forged transfer deeds, which the company denies
What happened
- Madras High Court issued notice on a petition to cancel the CULT trademark.
- The petition was filed by Deepak Poduval, who co-founded the original CULT gym business in 2015.
- The court adjourned the matter to December 2 so the registered owner can respond.
- A separate suit in Bengaluru seeks to void the 2017 transfer deeds, alleging forged signatures.
- Cult.fit denies this and says Poduval signed the deeds.
Why it matters
- The brand's ownership sits at the centre of the company's IPO plans.
- The company admitted its draft prospectus named the wrong trademark holder and promised a correction.
- An unresolved dispute can become a risk factor for investors.
The business
- Cult.fit offers fitness centres, group classes and wellness products.
- The trademark is held by subsidiary Cultfit Healthcare Pvt Ltd.
- The parent Cult.fit Ltd has a draft IPO prospectus filed.
The founders
What happens next
- Madras HC hearing on December 2
- Bengaluru court listing on November 16
Words to know
- Rectification petition
- A request to a court to correct or cancel an entry in the trademark register.
The numbers around it
Cult.fit has 2 funding rounds in StopDown's archive, $660 million raised in all.
| When | Round | Amount | Led by |
|---|---|---|---|
| 24 March 2026 | Series G | ₹440 crore | Temasek |
| 23 March 2026 | Series G | ₹440 Cr ($47.2 Mn) | Temasek |
Healthcare & Life Sciences in November 2026: 3 rounds with a disclosed amount, $5.3 million in all; the biggest was Venomics AI ($2.7M). Every sector this year →
Terms in this story
- Co-founder equity: Split equity by what each founder will contribute from now on, not by who had the idea, and attach vesting so that a founder who leaves early does not keep a large share for doing little. In India, founders usually do this through reverse vesting in the shareholders' agreement.
- IPO: An IPO, or initial public offering, is the first time a company sells its shares to the public and lists on a stock exchange. In India SEBI supervises it and the shares trade on the NSE and BSE. A retail investor can bid up to ₹2 lakh, and the issue stays open for three working days.
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