Cult Fit IPO

About Cult.fit IPO

Fitness tech company Cult.fit is in advanced stages for its IPO. Cult.fit IPO opens on TBA and closes on TBA. The allotment of shares will take place on TBA. The credit of shares to the Demat account will take place on TBA. The initiation of refunds will take place on TBA. The listing of shares will take place on TBA. As per reports, the IPO could be pegged at around ₹2500 crores. The lot size of shares in the IPO is TBA, and the price band of shares is TBA per share. The minimum investment amount required by a retail investor is TBA based on the upper price. The minimum lot for retail investors is TBA. Cult.fit was set up in 2016 by Mukesh Bansal, who earlier co-founded Myntra, and Ankit Nagori, formerly Flipkart’s chief business officer. The company runs a mix of online and offline health and fitness offerings, ranging from physical gyms and group training sessions to at-home workout programmes.

Objectives of Cult.fit IPO

TBA

Industry Outlook

India’s fitness economy is picking up pace and is fast becoming a core part of how people across the country think about health and wellbeing. What was once concentrated in big cities is now spreading to smaller towns, as more people make fitness a regular part of their lives.

The fitness sector is expected to expand from about ₹16,200 crores ($1.9 billion) in 2024 to nearly ₹37,700 crores ($4.5 billion) by 2030, growing at an annual rate of around 15%, according to the India Fitness Market Report 2025 by Deloitte India and the Health & Fitness Association.

The numbers point to a clear shift in consumer behaviour. Fitness is no longer treated as a niche activity. It is increasingly viewed as essential. Higher health awareness after the pandemic, improving incomes, and wider access to digital platforms are helping push the market beyond its traditional urban base.

About Cult.fit

Cult.fit was started in 2016 by Mukesh Bansal, a former cofounder of Myntra, and Ankit Nagori, who earlier served as chief business officer at Flipkart. The company runs a mix of digital and offline health and fitness offerings, ranging from physical gyms and group classes to at-home workout programmes.

When it was launched, the startup operated under the name Curefit, with its gym business branded as Cult.fit. Over time, Cult.fit became the name most people associated with the company, prompting the founders to rename the parent brand accordingly.

Strengths of Cult.fit

TBA

Risks of Cult.fit

TBA

Anchor Investor Bidding Date

TBA

IPO Registrar and Book Running Lead Managers

• IPO Registrar: TBA
• Book Running Lead Managers: Axis Capital, Jefferies, Goldman Sachs, Morgan Stanley and JM Financial

Cult.fit Business Model

Cult.fit runs a mix of online and offline health and fitness services aimed at everyday users. The company operates physical gyms and group workout centres, while also offering digital options such as guided at-home workouts through its app.

Cult.fit Growth Trajectory

Cult.fit posted an operating revenue of ₹1215.5 crores in FY25, up from ₹926.6 crores in the previous financial year, as per its consolidated filings with the Registrar of Companies. Income from fitness subscriptions remained the company’s mainstay, contributing 73% of overall revenue.

This segment, which includes Cultpass, Cult.fit centres, and related platform services, grew 32.7% year-on-year to ₹889 crores during the year.

Cult.fit Market Position

Cult.fit is a well-known name in the Indian fitness circles. Along with its network of gyms, the startup also runs several other businesses. These include Eat.fit, a health-focused cloud kitchen brand, Mind.fit, which offers services around mental wellbeing, and Care.fit, its primary healthcare arm, among others.

How to Apply for Cult.fit IPO?

To apply for this IPO:

• Log in to your Kotak Neo Demat account: Log in to your Kotak Neo Demat account to access IPO investments. Next, select the current IPO section.
• Specify IPO details: Enter the number of lots and the price you wish to apply for.
• Enter UPI ID: After entering your UPI ID, click submit. This will place your bid with the exchange.
• Mandate Notification: Your UPI app will receive a mandate notification to block funds.
• Approve Request: Your funds will be blocked once you approve the mandate request on your UPI.