Indian fitness company Cult.fit has filed for an IPO to raise up to 9.5 billion rupees ($99.6 million) in a fresh issue, draft papers showed on Tuesday.
Existing shareholders will sell up to 178.6 million shares, the draft prospectus showed.
They include private equity firms Temasek and Schroders Capital, as well as German fitness operator LifeFit Group.
Cult.fit did not immediately respond to a Reuters request for comment on the total offer size.
Media reports earlier this month said Cult.fit IPO could be sized at 35 billion rupees to 40 billion rupees.
Cult.fit operates 708 fitness centres across India and had more than 987,000 paid members as of March 31, 2026.
The company sells memberships through multiple channels, including its app and website, corporate partnership programmes and direct sales at its fitness centres.
The company said it will use the IPO proceeds to fund new centres, as well as for branding and marketing expenses.
IPO comes amid a shift in consumer spending towards preventive healthcare and wellness, driven by rising disposable incomes and growing health awareness.
Listing adds to an already busy year for India’s IPO market, with potential blockbuster offerings from Jio Platforms and the National Stock Exchange of India also expected to test investor appetite.
($1 = 95.3900 Indian rupees)
