Bollywood actor Hrithik Roshan is preparing to sell some stake in his investment in fitness and wellness platform Cult.fit. The platform is preparing to enter the stock market soon. According to the draft red herring prospectus (DRHP) filed with the Securities and Exchange Board of India (SEBI), Hrithik Roshan will sell 6.33 lakh equity shares through the 'Offer for Sale' (OFS) portion of Cult.fit's proposed initial public offering (IPO). Despite selling some part of his stake, the actor will remain an investor in the company.
The Bengaluru-based fitness and wellness company has proposed to issue new shares worth Rs 950 crore. At the same time, according to market estimates, the total issue size is expected to reach around Rs 3,500-4,000 crore by selling shares through OFS by existing shareholders. Hrithik Roshan has been associated with Cult.fit for many years – both as an investor and through his fitness brand HRX. His association with the company dates back to the time when Cult.fit was expanding its footprint in the organized fitness market of the country.
Cult.fit, started by former Myntra executives Mukesh Bansal and Ankit Nagori in 2016, has transformed from a chain of fitness centers to an integrated health and wellness platform. It provides gym, group workouts, sportswear, nutrition products and home fitness solutions. The company currently runs 708 fitness centers in 77 cities in India and has become the country's largest organized fitness and active lifestyle platform. During FY26, it reported revenue from operations of Rs 1,720.6 crore, showing a growth of 36.3% year-on-year, while its losses also narrowed.
According to an old media report, Cult.fit had started preparations for its public listing. For this, it had appointed Axis Capital, Goldman Sachs, Jefferies, JM Financial and Morgan Stanley as book-running lead managers. The company has long been considered one of India's most anticipated consumer-tech IPOs. It is backed by investors like Temasek, Accel, Kalaari Capital, Tata Digital and Zomato (now Eternal). According to DRHP, the proceeds from the fresh issue will primarily be used to expand the Cult Elite and Cult Neo fitness centres, open more Cultsport retail stores, repay debt, strengthen marketing efforts and meet lease requirements.
