New Delhi, Oct. 16 -- Cult.fit IPO: Months after filing draft papers, fitness services firm Cult.fit received Securities Exchange Board of India (SEBI)'s approval for the initial public offering on Friday. Apart from approving the IPO, the market watchdog has issued observations on the company's Draft Red Herring Prospectus (DRHP).

Apart from Cult.fit, Sohan Lal Commodity Management, Eswari Global Metal Industries and Indian Gas Exchange (IGX) also received SEBI nod to proceed with their IPO plans.

Cult.fit filed to bring its IPO in July. The fitness major aims to raise nearly 9.5 billion rupees through a combination of fresh issues and offer for sale (OFS).

The proposed IPO is a combination of a fresh issue, a component to create and ...