Fitness and active lifestyle platform Cultfit has filed its draft red herring prospectus with the Securities and Exchange Board of India (Sebi) for an initial public offering pegged at Rs 3,500-4,000 crore, people aware of the matter said, thus becoming another venture-backed consumer internet company moving towards the public markets.
The IPO will comprise a fresh issue of shares worth Rs 950 crore and an offer for sale (OFS) of up to 178.6 million shares by existing investors and individual shareholders, according to the DRHP. The total offer size will be finalised after the price band is set. Cultfit plans to list on the BSE and the NSE.
