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IPO ·
BSE, NSE
Turtlemint Fintech Solutions Ltd
Listed
Incorporated in 2015, Turtlemint Limited is a technology-enabled insurance distribution platform that connects customers, insurance advisors (Digital Partners), and insurers through a phygital (physical + digital) model.
Issue details
Price band
₹144 – ₹152
Face value
₹1
Lot size
98 shares
Minimum investment
₹14,896
Issue size
₹882.67 Cr
Fresh issue
₹660.72 Cr
Offer for sale
₹221.95 Cr
Issue type
Book Built
Exchange
BSE, NSE
Key dates
Opens
19 Jun 2026
Closes
23 Jun 2026
UPI mandate cut-off
5:00 PM on 23 Jun 2026
Allotment
24 Jun 2026
Refunds
25 Jun 2026
Shares in demat
25 Jun 2026
Listing
29 Jun 2026
Subscription and listing
Subscription
1.17x
Listing price
₹134.90
Registrar
Kfin Technologies Ltd
Lead manager
ICICI Securities, Jefferies India, JM Financial, Motilal Oswal Investment Advisors
Subscription by category
Total
1.17x
Total applications
52,181
Anchor investors
Amount raised
₹397.20 Cr
Bid date
18 Jun 2026
50% lock-in ends
23 Jul 2026
Rest lock-in ends
21 Sep 2026
Listing day
Issue price
₹152
Open
₹134.90
High
₹144.95
Low
₹132.00
Day close
₹135.37
Listing gain at open
-11.25%
Issue structure
Shares reserved per category and share of the total issue
QIB Shares Offered
4,35,52,800
75.00%
Anchor Investor Shares Offered
2,61,31,680
45.00%
QIB (Ex. Anchor) Shares Offered
1,74,21,120
30.00%
NII Shares Offered
87,10,559
15.00%
bNII > ₹10L
58,07,040
10.00%
sNII < ₹10L
29,03,519
5.00%
Retail Shares Offered
58,07,039
10.00%
Total Shares Offered
5,80,70,398
100.00%
Finaccle’s quick read
Avoid
FY25 income up 482%, loss in FY25.
A rules-based screen of growth, margins, debt and valuation, built from the offer document and data on Chittorgarh.com. It is for information only and is not investment advice or a recommendation to buy or sell. Read the RHP and speak to a SEBI-registered adviser before you apply.
About the company
Incorporated in 2015, Turtlemint Limited is a technology-enabled insurance distribution platform that connects customers, insurance advisors (Digital Partners), and insurers through a phygital (physical + digital) model. The company was among the first to adopt the Point-of-Sale Person (PoSP) distribution model and has built India's largest certified PoSP network among its peer group. Turtlemint offers a comprehensive platform that enables Digital Partners to compare, recommend, and distribute insurance products from multiple insurers while managing customer acquisition, policy servicing, claims support, training, and lead management.
Founded
Promoters
Promoter holding
Financial performance
Period
PAT
ROE
—
ROCE
—
Debt / equity
—
PAT margin
—
P/E post issue
-ve
Market cap
₹4,476.08 Cr
Use of IPO money
Expenditure towards cloud and server related infrastructure of the Company
₹25.64 Cr
Salary expenditure towards the technology and product development teams of the Company
₹193.04 Cr
Expenditure towards marketing initiatives by the Company
₹39.07 Cr
Expenditure towards lease payments for existing properties of the Company and wholly owned Subsidiary, TIB, breakup of which is as follows: Expense by the Compa
₹22.21 Cr
Expenditure towards lease payments for existing properties of thr Company and wholly owned Subsidiary, TIB, breakup of which is as follows: Expense by wholly ow
₹20.87 Cr
Investment in wholly owned Subsidiary, TIB, for funding its working capital requirements
₹128.64 Cr
Funding inorganic growth through unidentified acquisitions and strategic initiatives and general corporate purposes
₹151.24 Cr
Issue Expenses
₹80.01 Cr
Strengths
✓
Revenue up 482% in FY25 to ₹693.21 Cr
Risks to watch
!
Loss-making in FY25
!
25% of the issue is an offer for sale by existing shareholders
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Last updated:
Information is compiled from exchange notices and the company’s offer document. It is for general information only and is not investment advice or a recommendation to apply. Read the prospectus before investing.