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CultFit IPO

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Upcoming IPO.

About the Company
Cult.fit, formerly known as Cure.fit, was founded by Mukesh Bansal and Ankit Nagori. It has emerged as one of India’s largest integrated health and wellness platforms, offering a holistic ecosystem that brings together fitness, nutrition, mental well-being, and preventive healthcare. The company operates an omnichannel model, combining offline fitness centers and studios with a robust digital presence through its mobile app. Cult.fit manages nearly 500 gyms across several Indian cities, strengthened by strategic acquisitions like Gold’s Gym India. Its diverse offerings include fitness subscription services under Cultpass, healthy meal delivery through Eat.fit, mental wellness programs via Mind.fit, and Cultsport, a D2C fitness apparel brand. This seamless integration of services makes Cult.fit a one-stop destination for individuals pursuing healthier and more balanced lifestyles.
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Founded In

2016

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CEO

Naresh Krishnaswamy

Utilisation of Proceeds

PurposeAmount
Cult.fit plans to raise up to ₹2,500 crore through its IPO. The proceeds will focus on expanding its gym and fitness center network across Tier-1 and Tier-2 cities, aiming to boost market reach and grow its subscriber base across India.-
Cult.fit plans to use part of the IPO proceeds to upgrade its digital platforms. This includes apps for live workout sessions, AI-powered health insights, and telehealth features, designed to complement its offline services and provide users with a more connected and personalized wellness experience.-
A portion of the funds will also be allocated toward general corporate purposes, providing financial flexibility for future growth initiatives, operational needs, and strengthening the company’s overall balance sheet.-
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  • Omnichannel Wellness Platform: Cult.fit offers a holistic wellness ecosystem by blending offline fitness centers with digital services like nutrition plans, mental health support, and live workout sessions. This omnichannel approach allows users to access comprehensive health solutions seamlessly, catering to both physical and digital wellness needs across India.
  • Strong Investor Support: Cult.fit enjoys strong backing from marquee investors like Zomato, Tata Digital, Temasek, and Accel. Their financial support and strategic guidance not only strengthen the company’s growth trajectory but also enhance its credibility in the highly competitive health and wellness industry.
  • Digital-First Innovation: With millions of app downloads and a growing digital subscriber base, Cult.fit leverages technology for live classes, AI-driven fitness recommendations, and gamified user engagement. This digital reach complements its physical network and provides scalability without heavy CapEx on physical assets.
  • Revenue Growth: Cult.fit reported a 33.6% rise in operating revenue, reaching ₹927 crore in FY24, up from ₹694 crore in FY23. This strong growth reflects increased demand for its fitness and wellness services, driven by both offline expansion and enhanced digital offerings.
  • Pan‑India Fitness Footprint: Cult.fit has established itself as India’s largest organized fitness chain, operating around 580 centres across over 50 cities. This wide physical presence, spanning metro and tier‑2/3 markets, gives it a strong competitive advantage in reach, brand recall, and member convenience.
  • Diversified Revenue Streams: Cult.fit generates income from multiple business verticals, including offline gyms, D2C fitness apparel (Cultsport), healthy meal delivery (Eat.fit), and mental wellness services (Mind.fit). This diversified model reduces reliance on any single segment, ensuring stability and supporting sustainable long-term growth across India’s wellness market.
  • Operational Excellence through Franchising: Its asset-light franchising model accelerates expansion while minimizing capital expenditure. Cult.fit provides partners with brand, training, and tech support, helping maintain consistency across locations and boosting margins.

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