India · Updated 16 Oct, 07:51 pm IST
SEBI clears Cult.fit IPO including ₹950 crore fresh issue
Why it matters for readers: It explains that SEBI approval is a key step before a company can start selling shares to the public.
- SEBI issued its final observation on Cult.fit’s offer documents on October 12, signalling regulatory approval to proceed with the IPO.1
- The IPO includes a fresh issue of shares worth up to ₹950 crore and an offer-for-sale of up to 17.86 crore shares.1
- Sources say the total IPO size is likely to be around ₹4,000 crore, combining the fresh issue and OFS.1
- Early investors—including Temasek (via MacRitchie Investments), Schroders Capital, LifeFit Group, Accel, Tata Digital and cofounder Mukesh Bansal—plan to sell shares via the offer-for-sale.1
- Cult.fit plans to use proceeds from the fresh issue partly to set up new gym centres and for related expenditures.1
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