Cult.fit to Launch ₹3,500-₹4,000 Cr IPO as Company Achieves EBITDA Profitability Milestone

Cult.fit to Launch ₹3,500-₹4,000 Cr IPO as Company Achieves EBITDA Profitability Milestone​

Cult.fit Private Limited is reportedly preparing to file its Draft Red Herring Prospectus (DRHP) this month for a massive Initial Public Offering (IPO). The fitness giant, which operates across multiple formats, is positioning itself at the forefront of India's growing health and wellness market.

The IPO is anticipated to be structured as a mix involving both fresh issue and an Offer For Sale (OFS), allowing existing shareholders to participate in the listing. This move comes after the company delivered significant improvements in its financial metrics.

##Fitness Ecosystem Drives Strong Revenue Growth for Cult.fit

Cult., founded in 2016, offers a diversified multi-format fitness platform that extends far beyond traditional gyms. Its ecosystem includes group workouts, outdoor formats, at-home training programs, and associated product lines like apparel, footwear, and fitness equipment.

The company has demonstrated robust operational performance, resulting in strong revenue growth. Revenues have surpassed the ₹1,700 crore mark, representing a substantial 40 percent year-on-year increase.

##Profitability Surge as Cult.fit Turns EBITDA Positive

A key highlight of the preparation is the financial turnaround witnessed by the company. Sources indicate that Cult.fit turned its Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) positive in the last quarter of FY26.

This achievement signifies a double-digit improvement in EBITDA, underscoring the business's rapidly improving profitability. The ability to maintain operational efficiency while scaling operations is seen as critical for future growth trajectory.

##Diversified Revenue Streams and Business Scale

The financial health of Cult.fit is supported by a balanced revenue profile across its services and products divisions. Fitness services contribute approximately 70 percent of the total revenues, offering recurring income streams.

The remaining 30 percent comes from the fitness products business. Furthermore, the company's massive scale is reflected in its subscriber base and product movement. Cult.fit recorded a transacting base of 1 million paid subscribers across more than 75 cities in FY26.

##Strategic Appointments Ahead of IPO Filing

To bolster its institutional credibility ahead of the DRHP filing, Cult.fit has been strengthening its board structure. The company recently appointed Kalpana Morparia, Arun M. Kumar, Indu Bhushan, and Pragya Misra as independent directors.

The brand also maintains a high-profile association with Hrithik Roshan serving as its ambassador. This strategic positioning aims to capitalize on the structural shift towards health consciousness in India.

##Financial Advisors for Major Listing

Several high-profile financial institutions are guiding Cult.fit through this major listing process. Firms advising the company include Axis Capital, Goldman Sachs, Jefferies, JM Financial, and Morgan Stanley.

The move is expected to provide a significant infusion of capital as the company continues its ascent within the Indian fitness technology landscape.