Bollywood superstar Hrithik Roshan is making headlines once again, but this time it’s for a major business development rather than a film announcement. Ahead of its much-awaited Initial Public Offering (IPO), fitness and wellness company Cult.fit has officially ended its exclusive partnership with HRX, the actor’s popular activewear brand.
Despite the change, Hrithik Roshan will continue to hold an investment in the company while partially reducing his stake through the upcoming Offer for Sale (OFS).
Cult.fit Ends Exclusive HRX Brand Agreement
According to the Draft Red Herring Prospectus (DRHP) filed with the Securities and Exchange Board of India (SEBI), Cult.fit has terminated its exclusive agreement with Extreme Brands LLP, the company that owns the HRX brand.
The agreement, signed on August 11, 2023, had granted Cult.fit perpetual and exclusive rights to use the HRX brand. Reports indicate that the arrangement carried a contingent liability of nearly ₹30 crore.
However, the latest regulatory filing confirms that the partnership has now ended. The company has not disclosed the reason for the termination or explained whether it will affect its future branding and business strategy.
Hrithik Roshan to Sell Part of His Shares
The IPO documents also reveal that Hrithik Roshan will participate in the Offer for Sale by selling approximately 6.33 lakh equity shares.
Even after selling a portion of his holdings, the Bollywood actor will continue to remain an investor in Cult.fit, reflecting his ongoing confidence in the fitness startup’s long-term growth.
Actor’s Investment Has Grown Significantly
Hrithik Roshan first invested in Cult.fit in 2018, the same year he became the company’s brand ambassador.
At the time, the actor reportedly invested around ₹3.75 crore, while his affiliated company, Extreme Brands LLP, invested another ₹2.25 crore.
Based on Cult.fit’s current valuation, Hrithik’s original investment is now estimated to be worth nearly ₹25 crore, highlighting the impressive growth of the Bengaluru-based fitness company over the years.
Cult.fit Gears Up for Its IPO
Cult.fit is preparing for one of the most closely watched IPOs in India’s startup ecosystem. The company plans to launch a fresh issue of shares worth ₹950 crore, alongside an Offer for Sale by several existing shareholders.
The public issue is expected to attract strong interest from investors as India’s fitness, wellness, and digital healthcare sectors continue to expand rapidly.
What This Means for HRX and Cult.fit
Although the exclusive HRX licensing agreement has ended, Hrithik Roshan’s continued investment indicates that his financial association with Cult.fit remains intact.
Industry experts believe the move is part of the company’s broader IPO strategy, while fans and investors will be watching closely for any future announcements regarding HRX’s branding plans and Cult.fit’s post-listing business roadmap. The source of this news is From Bollywood Hungama.