New Delhi, July 7 -- Cult.fit has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to launch its initial public offering (IPO).

The proposed IPO comprises a fresh issue of up to Rs.950 crore worth of equity shares and an offer-for-sale (OFS) of up to 17.86 crore equity shares by existing shareholders. The company may also undertake a pre-IPO placement of up to Rs.190 crore. If such a placement is completed, the size of the fresh issue will be reduced accordingly. The overall IPO size will be determined after the price band is announced, as the value of the OFS will depend on the final issue price.

Among the selling shareholders, MacRitchie Investments, an affiliate of Temasek, will off...