Fitness and active lifestyle platform Cult. Fit's early investor and actor Hrithik Roshan is set to offload 6.33 lakh shares in the company's Rs 3,500-4,000-crore public offer, its draft red herring prospectus (DRHP) showed.According to the official document, Hrithik Roshan owns a 0.20% stake, or 19.01 lakh shares, valued at Rs 4 crore. Since the company is yet to announce its price band, the eventual value of his stake sale cannot be ascertained.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 final offer size will be determined after the price band is announced. Cult. fit plans to list its shares on the BSE and the NSE.The company’s DRHP also showed that Chiratae, Temasek, Fitness First, Mukesh Bansal, Tata Digital, Bruno Eduard Raschle, Schroders Capital, Accel, Epiq Capital, Kalaari and Valecha Investments are among the other selling shareholders under the OFS.Chiratae, through IDG Ventures India Fund III and Chiratae Trust, will sell up to 2.81 crore shares, while Temasek will offload up to 2.47 crore shares. Fitness First will sell up to 1.96 crore shares, Mukesh Bansal up to 1.60 crore shares, and Tata Digital up to 1.59 crore shares.Also read: Cult. fit IPO: Fitness company files draft IPO papers to raise Rs 950 crore via fresh issueThe company may also undertake a pre-IPO placement of up to Rs 190 crore, which would reduce the size of the fresh issue.About Cult. FitCult. fit describes itself as India's largest fitness and active lifestyle platform by the number of centres, citing a Redseer report. As of March 31, it operated 708 fitness centres across 77 cities and had 987,020 paid members. Its network comprises Cult-branded gyms and group workout centres, franchised gyms, marketplace gyms and Gold's Gym-branded centres.The company plans to utilise Rs 276.6 crore from the fresh issue to set up new Cult Elite and Cult Neo centres. It has earmarked Rs 217.5 crore towards lease, rent and licence payments for identified existing centres, while Rs 120 crore will be used to repay or prepay borrowings. Additionally, Rs 75 crore has been allocated for brand marketing and business promotion, while Rs 23.4 crore will be invested in subsidiary Cultsport for setting up new exclusive brand outlets.Cult. Fit financialsFor FY26, Cult. fit reported revenue from operations of Rs 1,720.6 crore, up 41.6% from Rs 1,215.5 crore in FY25. The company's net loss narrowed to Rs 251.9 crore from Rs 480.8 crore a year earlier and Rs 888.5 crore in FY24.Read more: Cultfit raises $47 million from Singapore’s TemasekAdjusted EBITDA stood at Rs 144.8 crore in FY26, compared with an adjusted EBITDA loss of Rs 33.5 crore in FY25 and Rs 140.2 crore in FY24. The adjusted EBITDA margin improved to 8.41% from negative 2.76% in FY25. The fitness services business contributed Rs 1,197.8 crore, or 69.6% of FY26 operating revenue, while the products business contributed Rs 522.8 crore, or 30.4%.The services segment reported a segment profit of Rs 210.1 crore in FY26, while the products segment posted a segment loss of Rs 57.4 crore, improving from a loss of Rs 79.9 crore in FY25.The Economic Times had reported in March that Cult. fit raised $47 million from Singapore's Temasek through MacRitchie, marking its first major funding in two years. In 2024, the company raised Rs 84.5 crore in a funding round led by Valecha Investments.Overall, Cult. fit has raised more than $650 million and was last valued at around $1.4 billion.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)