India, July 8 -- Gym franchise operator Cult.fit has filed its draft IPO papers with the SEBI, aiming to net up to Rs.4,000 Cr via its public float. The proposed IPO will comprise both a fresh issue of shares worth up to Rs.950 Cr and an offer for sale (OFS) of up to 17.86 Cr shares.

In total, around 22 institutional investors and 13 individual shareholders are set to participate in the IPO.

Cult.fit's largest shareholder, Temasek, holds over a fifth of the company's equity. Via its holding entity MacRitchie Investments, it is looking to offload up to 2.47 Cr shares in the company's IPO.

Behind Temasek, VC firm Accel is also one of the biggest investors in Cult.fit, holding a 13.45% stake. It intends to sell 65.32 Lakh shares via the I...