Hrithik Roshan is preparing to unlock a portion of his investment in fitness and wellness platform Cult.fit as the company moves ahead with its proposed initial public offering (IPO). While the actor will participate in the offer-for-sale (OFS), he is not exiting the business and will continue to hold equity in the company after the public issue.
As per the Draft Red Herring Prospectus (DRHP) submitted by Cult.fit to the Securities and Exchange Board of India (Sebi), Hrithik plans to sell 6,33,824 equity shares as part of the OFS portion of the IPO. The actor has been associated with the company for several years, wearing multiple hats as both an investor and one of its prominent brand ambassadors.
The filing further indicates that before the IPO, Hrithik owns approximately 19.01 lakh equity shares in the company, translating to nearly 0.20 percent of the pre-offer equity share capital. Following the proposed sale, he will continue to own the remaining shares, with the final holding depending on the eventual structure of the public issue.
At present, the financial value of Hrithik’s stake sale cannot be determined as the company has not yet disclosed the IPO’s price band. The valuation of the shares being offered will become clear once the pricing details are officially announced.
Cult.fit’s proposed IPO consists of two components. The company intends to raise fresh capital through the issuance of equity shares worth up to Rs 950 crore. In addition, existing investors will collectively sell up to 17.86 crore equity shares through the offer-for-sale route. Hrithik Roshan is among the shareholders participating in this segment alongside several early investors.
Hrithik’s decision to offload only a part of his holding suggests that he continues to have confidence in the company’s long-term growth prospects. Rather than signalling a complete exit, the transaction represents a partial monetisation of …read more
Disclaimer : This story is auto-aggregated by a computer program and has not been created or edited by FilmyFriday. Source:: BollywoodHungama
