Cult.fit IPO Upcoming

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To be announced
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About Cult.fit

Cult.fit, headquartered in Bengaluru, is a fitness-tech company that offers online and offline experiences for fitness, nutrition, and mental well-being, with the aim of making fitness accessible and fun. It was cofounded by Mukesh Bansal and Ankit Nagori in 2016.

Cult.fit Valuation

Cult.fit has raised over $760.65 million across 16 funding rounds from many investors. Investors include known names like Zomato, Tata Capital, HDFC Bank, Kotak bank and so on. Their latest funding round was in February 2024 where they raised $10.20 million.

With the IPO, the company plans to raise $300 million which will bring the valuation of the company to $2 billion.

Operations & Performance of Cult.fit

Cult.fit experienced a 33.6% rise in its operating revenue, reaching Rs 927 crore in FY24, up from Rs 694 crore in FY23. This growth was primarily driven by fitness subscriptions, including key offerings like Cultpass and Cult.fit centres, which contributed 72.3% of the total revenue and surged 46.6% to Rs 670 crore. The sportswear and fitness equipment division, under the Cultsport brand and other services, added Rs 257 crore. The company saw a 62% drop in other income, falling to Rs 100.45 crore in FY24 from Rs 265.36 crore in FY23. Nevertheless, Cult.fit’s total income reached Rs 1,027 crore in FY24.

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