Two major Indian startups are moving closer to the public stock market. Fitness platform Cult.fit IPO filed and online rental firm Rentomojo IPO received the final green light from the SEBI.
Cult.fit IPO Details
Cult.fit submitted its Draft Red Herring Prospectus (DRHP) on July 7 2026. The Securities and Exchange Board of India (SEBI) will now review these papers.
- The total Cult.fit IPO issue includes a fresh issue of shares worth up to ₹950 crore.
- Existing backers will also sell up to 17.86 crore equity shares through an offer for sale.
- Media reports estimate the total value of the share sale between ₹3,500 crore and ₹4,000 crore.
The fitness company raised more than 714 million dollars across 16 funding rounds before this filing. Its private valuation reached approximately ₹12,600 crore. Zomato backs this fitness platform. Other major investors include Temasek and Accel. Kalaari Capital and Chiratae Ventures also own stakes. Tata Digital is another key investor. Private equity firm Schroders Capital and German fitness operator LifeFit Group also intend to sell shares.
The company will use the fresh capital from Cult.fit IPO for specific business tasks.
- ₹217.5 crore for lease and rental payments at existing fitness hubs.
- ₹120 crore to repay or prepay corporate loans.
- ₹75 crore for brand marketing and promotion.
- The remaining funds will support general corporate operations.
The company currently runs 708 fitness centers across India. The brand had over 9.87 lakh paid members on March 31 2026. The firm sells memberships through its mobile application and main website. The firm also uses corporate partnership programs and direct sales at fitness hubs. This stock launch comes at a time when consumer spending is shifting toward preventive healthcare.
Rentomojo IPO Details
Rentomojo Limited secured its regulatory clearance from SEBI on July 6 2026. The company originally filed its draft documents on April 1 2026. The regulator issued its final observations to approve the Rentomojo IPO.
- The proposed launch includes a fresh issue of equity shares worth up to ₹150 crore.
- Existing investors will sell 2.84 crore equity shares through an offer for sale.
Geetansh Bamania is the main promoter of this Bengaluru-based startup.
The startup plans to allocate the fresh money to strengthen its financial health.
- Funds will be used to repay or prepay certain borrowings.
- A portion will pay for lease rentals and license fees at warehouses and experience stores.
- The remaining capital will go toward general corporate needs.
The platform offers furniture and home appliances on rental plans. The business started in 2014. The firm serves customers who prefer flexible access to household goods without huge upfront costs.
The startup had 2,27,511 active subscribers across 22 cities on September 30 2025. The infrastructure includes 67 experience stores and 21 warehouses. The active portfolio contains 7,28,773 live products. Rentomojo held a market share between 42% and 47% in the organized home furniture and appliance rental sector in fiscal year 2025.
The financial performance shows steady growth. Rentomojo earned an operational revenue of ₹176.61 crore during the first six months of fiscal year 2026. The profit after tax reached ₹61.38 crore during that same half-year period. For the full fiscal year 2025, the revenue stood at ₹265.96 crore and net profit was ₹43.11 crore.
The firm overcame a legal challenge before receiving this clearance. Former co-founder Ajay Nain filed a petition before the National Company Law Tribunal in March 2026 that tried to halt the proposed public launch. The legal dispute named the company and its promoter. It also named the directors and the chief financial officer. The employee benefit trust was also part of the petition. However, the IPO process continued, and SEBI cleared the issue.
3 book-running lead managers will handle this public offer. The group includes Motilal Oswal Investment Advisors and Axis Capital. IIFL Capital Services is also managing the share sale. The company will list its shares on both the BSE and the NSE.
Disclaimer: This article contains news updates regarding IPO filings and SEBI approvals. Investors must consult a certified financial advisor before buying shares in any public issue.