Cyril Amarchand Mangaldas (CAM), Trilegal and Khaitan & Co advised on Cult.Fit’s proposed IPO.
Cult.Fit Limited, a leading omnichannel health and wellness company, has announced its proposed initial public offering (IPO) of equity shares comprising a fresh issue aggregating INR 9,500 million and an offer for sale of up to 178,609,200 equity shares by the selling shareholders.
Cult.Fit operates subscription-based physical fitness centres, including Cult Elite and Cult Neo, along with digital telehealth services and sportswear and equipment retail offerings. The company also owns and operates the brand rights for Gold’s Gym in India.
Cyril Amarchand Mangaldas (CAM) is advising Cult.Fit Limited on its proposed IPO.
The CAM Capital Markets team advising the issuer is led by Senior Partner Yash Ashar and Partner Tanvi Kini, with support from Senior Associate Vishesh Jain; Associates Dhruv Sharma, Monusha Nambiar, Rakshitha V, Aarya Maheshwari, Mohnish Khandale and Medha Biswas.
The General Corporate team advising the issuer is led by Partner Sharada Ramachandra, with support from Senior Associate Anisha Keshava and Associate Jvalita Krishan, assisted with various corporate advisory matters. Partner Biplab Lenin, with support from Senior Associate Priyam Rajkumar and Associate Tushmi Udyalak, assisted with certain sector-specific advisory matters. The Employment team was led by Partner Bharath Reddy, with support from SA – Designate Abhishek Gabriel and Associates Aarav Prasad and Anushka Gurnani, and was involved in the ESOP and related workstream. Partner Bharath Reddy and Director Shubham Parkhi were also involved in other employment-related matters.
Trilegal is advising the book-running lead managers, including Axis Capital, Goldman Sachs (India) Securities, Jefferies India, JM Financial and Morgan Stanley India, on Cult.Fit’s proposed IPO.
The Trilegal Capital Markets Team advising on the mandate is led by Partner Vinay Sirohia, with support from Senior Associate Harshvardhan Lahiri and Associates Kohsheen Saraf, Olivia De, Jahnavi Jayasimha Rao, Hanna Robin Vettoor, Dwija Vasavada and Rishabh Shah.
Khaitan & Co advised the 36 selling shareholders of Cult.Fit on the offer for sale component of the proposed IPO.
The Khaitan & Co deal team comprised Thomas George, Suman Prabhu, Tharun Vadlapatla, Sanjeev Ramakrishnan, Lakshmi Raj C and Shreya Shetty GR.
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