Upcoming IPO: Cult.fit files draft papers with SEBI to raise ₹950 crore via IPO

Cult.fit has filed its draft red herring prospectus (DRHP) with SEBI for an IPO comprising a fresh issue of up to Rs 950 crore and an offer-for-sale of up to 17.86 crore equity shares. MacRitchie Investments, a Temasek affiliate, will offload up to 2.47 crore shares, the largest OFS portion, alongside Tata Digital, Accel entities, Kalaari Capital, and co-founder Mukesh Bansal. The company plans to use fresh issue proceeds for lease payments (around Rs 217.5 crore), debt repayment (around Rs 120 crore), brand marketing (around Rs 75 crore), and general corporate purposes.