Last Updated:
Under the OFS, existing investors sell part of their holdings to public investors and the company does not receive any proceeds from these share sales.
Cult.fit IPO: According to the DRHP, Hrithik Roshan owns 19.01 lakh equity shares, representing about 0.20% of the company’s pre-offer share capital.
Cult.fit IPO: Actor and early investor Hrithik Roshan is set to sell 6.33 lakh equity shares in the proposed initial public offering (IPO) of fitness and active lifestyle platform Cult.fit, according to the company’s draft red herring prospectus (DRHP) filed with the Securities and Exchange Board of India (Sebi).
Cult.fit IPO Opening Date
The official date has not been announced yet. With the draft red herring prospectus (DRHP) now submitted, the next step is Sebi’s review process. After that, the company will announce its IPO opening date.
Cult.fit IPO: Price Band & Lot Size
Though the company has filed the DRHP, the price of the IPO is not known yet. The Cult.fit IPO’s lot size will also be announced later.
Cult.fit IPO: Why is Hrithik Roshan selling shares?
The DRHP shows that Hrithik Roshan is one of several existing shareholders participating in the offer-for-sale (OFS) portion of the IPO. Under the OFS, existing investors sell part of their holdings to public investors. The company does not receive any proceeds from these share sales.
Hrithik Roshan will offload 6,33,824 equity shares through the OFS.
The filing also lists several other selling shareholders, including MacRitchie Investments Pte Ltd, Fitness First Luxembourg SCA, IDG Ventures India Fund III LLC, Tata Digital, Chiratae Trust, Schroders Capital Private Equity Asia Mauritius IV Ltd, Twenty Nine Capital Partners Ltd Partnership, Accel India V (Mauritius) Ltd, as well as company founders Mukesh Bansal and Bruno Eduard Raschle.
It is worth noting that an offer-for-sale (OFS) is a common feature in IPOs. Through an OFS, existing shareholders, including founders, early investors, private equity funds and strategic investors, sell a portion of their holdings to public investors. Such partial exits are a normal way for early backers to monetise part of their investment after holding shares for several years.
Under the OFS, existing investors sell part of their holdings to public investors. The company does not receive any proceeds from these share sales. Instead, the money from the shares sold goes to the selling shareholders.
Will Hrithik Roshan exit Cult.fit completely?
No. According to the DRHP, Hrithik Roshan owns 19.01 lakh equity shares, representing about 0.20% of the company’s pre-offer share capital. Since he is selling 6.33 lakh shares, he will continue to hold the remaining shares after the IPO, subject to the final offer structure.
How much will Hrithik Roshan earn?
The company has not yet announced the IPO price band. As a result, the exact value of Hrithik Roshan’s proposed share sale cannot be calculated at this stage. The proceeds he receives will depend on the final issue price determined before the IPO opens.
What does the Cult.fit IPO comprise?
According to the DRHP, the IPO consists of 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 company may also undertake a pre-IPO placement of up to Rs 190 crore. If completed, the size of the fresh issue will be reduced by the amount raised through the placement.
How will Cult.fit use the fresh issue proceeds?
The company said it intends to utilise the net proceeds from the fresh issue for repayment or prepayment of certain borrowings, expansion of its fitness centre network, investment in subsidiary Cultsport Pvt Ltd for setting up new exclusive brand outlets, lease-related payments for existing fitness centres, brand marketing initiatives, and general corporate purposes.
Cult.fit’s business
According to the DRHP, citing a Redseer report, Cult.fit was India’s largest fitness and active lifestyle platform by the number of fitness centres in its network as of March 31, 2026.
As of the same date, the company operated 708 fitness centres across 77 cities. In FY26, Cult.fit reported revenue from operations of Rs 1,720.61 crore, up 36.26% from Rs 1,262.80 crore in FY25. A transacting base of 9.87 lakh paid fitness services members and shipment of over 42.3 lakh fitness products.
The company said around 70% of its revenue comes from fitness services, while the remaining 30% is generated by its fitness products business.
Axis Capital, Goldman Sachs (India) Securities, Jefferies India, JM Financial and Morgan Stanley India are the book-running lead managers to the issue.
About the Author
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalis…Read More
Read More
Source link
[ad_3]
