As per media reports, Indian fitness and wellness company Cult.fit has filed draft papers for an initial public offering (IPO), seeking to raise up to INR 950 crore through a fresh issue of shares as it looks to expand its physical footprint and invest in brand building.

The IPO will also include an offer for sale (OFS) of up to 178.6 million equity shares by existing investors, including Temasek, Schroders Capital and German fitness operator LifeFit Group. Cult.fit did not disclose the total size of the public issue in its draft red herring prospectus.

Media reports earlier this month had estimated the IPO could be valued between INR 3,500 crore and INR 4,000 crore.

According to the filing, the Bengaluru-based company will use the proceeds from the fresh issue to establish new fitness centres across India, while a portion of the capital will also be allocated towards branding and marketing initiatives.

As of 31 March 2026, Cult.fit operated 708 fitness centres across the country and had more than 987,000 paid members. The company sells memberships through multiple channels, including its app and website, corporate partnerships and direct sales at its fitness centres.

The public offering comes at a time when India's fitness and wellness sector is witnessing growing consumer demand, driven by rising disposable incomes and an increasing focus on preventive healthcare.

Cult.fit's listing is expected to add momentum to an already active year for India's IPO market, with several high-profile offerings, including those from Jio Platforms and the National Stock Exchange of India, also expected to test investor appetite in the coming months.