Cult Fit Wins SEBI Approval for IPO
Indian fitness services provider Cult.fit has received regulatory approval from SEBI to proceed with its initial public offering. The company plans to raise up to 9.5 billion rupees through a fresh issue of shares to fund new centers.
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Fitness services firm Cult.fit received regulatory approval from India's markets watchdog for an initial public offering aiming to raise 9.5 billion rupees ($100.04 million). The company filed draft papers in July for a share sale comprising both a fresh issue and secondary stock sales by existing shareholders. The listing provides investors exposure to the country's expanding urban wellness sector as fitness chains scale operations.
