Cult.fit Files DRHP as Manipal Health & Rentomojo Secure SEBI Approvals This Week

Cult.fit, the fitness tech company, has filed a Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) signalling its intention to go public. Meanwhile, two other firms – Manipal Health and Rentomojo – secured SEBI approvals for their upcoming IPOs during the week, indicating a positive regulatory outlook for new listings.

The DRHP is a preliminary document that provides investors with key information about a company’s financial health and business model; it precedes the final prospectus that will be filed before the shares are listed. Manipal Health, a part of the Manipal Group, and Rentomojo, an online furniture retailer, have both completed the necessary filing steps and have received the nod to proceed to the next stages of the IPO process.

These approvals come at a time of heightened investor appetite for tech and healthcare offerings in India. The filing by Cult.fit and the clearance of two more companies suggest a robust environment for equity fundraising, with potential implications for both local investors and the broader capital markets. Source: Google News – Manipal.