Actor will retain a majority of his holding even as the fitness platform plans to raise fresh capital for expansion, debt repayment and brand investments
Actor and investor Hrithik Roshan will partially monetise his investment in fitness and wellness platform Cult.fit by selling 6,33,824 equity shares through the offer-for-sale (OFS) component of the company’s proposed initial public offering (IPO), according to the Draft Red Herring Prospectus (DRHP) filed with the Securities and Exchange Board of India (Sebi).
The proposed IPO comprises a fresh issue of equity shares worth up to Rs 950 crore and an OFS of up to 17.86 crore equity shares by existing shareholders.
According to the DRHP, Roshan currently holds 19.01 lakh equity shares, representing around 0.20 per cent of Cult.fit’s pre-offer share capital. Following the proposed sale, he will continue to hold the remaining shares, subject to the final structure of the offering. The value of his stake sale has not yet been determined, as the company is yet to disclose the IPO price band.
The company may also undertake a pre-IPO placement of up to Rs 190 crore. If completed, the amount raised through the fresh issue will be reduced accordingly. The IPO schedule, price band and lot size are yet to be announced.
Fresh Capital Deployment
According to the DRHP, the proceeds from the fresh issue will be used to repay certain borrowings, expand the company’s fitness centre network, invest in subsidiary Cultsport Pvt Ltd to establish exclusive brand outlets, meet lease-related expenses, strengthen brand-building and marketing initiatives, and support general corporate purposes.
The proceeds from the OFS, including Roshan’s share sale, will accrue to the selling shareholders and not to the company.
Existing Investors Participate
Besides Roshan, existing shareholders participating in the OFS include MacRitchie Investments, Tata Digital, Fitness First Luxembourg, Chiratae Trust, Accel India, and the company’s co-founders Mukesh Bansal and Bruno Eduard Raschle.
Roshan has been associated with Cult.fit for several years as both an early investor and a brand ambassador. His participation in the IPO represents a partial monetisation of his investment rather than a complete exit from the company.
As of 31 March 2026, Cult.fit operated 708 fitness centres across 77 cities. The company reported revenue from operations of Rs 1,720.61 crore in FY26, up 36.26 per cent from the previous financial year. Nearly 70 per cent of its revenue was generated by its fitness services business.
The company is awaiting Sebi’s observations on the DRHP before proceeding with the IPO and announcing the issue dates and pricing.
