Cult.fit lodges DRHP as SEBI welcomes IPOs of Manipal Health and Rentomojo
By ETF Desk
Cult.fit, the popular fitness and wellness platform, officially filed a Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on Tuesday, marking a significant step toward its planned initial public offering. The DRHP outlines the company’s business model, financials, and expected valuation of around ₹2,500 crore, positioning it as a major player in India's rapidly expanding health-tech sector.
Earlier this week, SEBI granted clearance for the listings of Manipal Health and Rentomojo, the e-commerce furniture retailer based in Bengaluru. Both companies were welcomed into the market after thorough scrutiny of their business models and regulatory compliances, signalling a buoyant environment for IPOs in the domestic market. The approvals also reflect SEBI’s confidence in maintaining robust disclosures and protecting investors’ interests.
The sequence of filings and approvals is likely to invigorate investor sentiment, especially in the health and lifestyle segments that have seen accelerated growth during the pandemic. Udupi’s small and medium enterprises may benefit as capital flows into the region’s digital startups, fostering innovation and job creation. Source: Google News – Manipal.