Turtlemint Fintech IPO
GMP, Subscription, Price, Dates & Financial Details
Fintech
Founded in 2015, Turtlemint Limited is a technology-enabled insurance distribution platform that connects customers, insurance advisors, and insurance companies through an integrated "phygital" model that combines digital capabilities with a strong on-ground advisory network. The company is one of…
Open Date
Fri, 19 Jun 2026
Close Date
Tue, 23 Jun 2026
Price Band
₹ 144 – 152
Lot Size
98
Issue Size
₹ 883.00 Cr
Minimum Investment
₹ 14,896 (98 Shares)
Grey Market Premium Analysis
Day Wise GMP→Unofficial premium quoted in the grey market, tracked daily against the price band cap.
Grey market trading is unregulated. GMP figures are indicative only and should not be the sole basis for investment decisions - treat as a sentiment indicator, not a guarantee.
IPO Details
Turtlemint Fintech IPO has successfully completed its IPO process and is now listed on the NSE and BSE. According to the Red Herring Prospectus (RHP), the IPO was a book-built issue with a total issue size of ₹883.00 Crore, comprising a fresh issue of 4.35 Crore equity shares aggregating to ₹661.00 Crore and an offer for sale (OFS) of 1.46 Crore equity shares aggregating to ₹222.00 Crore by the existing shareholders.
The Turtlemint Fintech IPO remained open for subscription from June 19, 2026, to June 23, 2026. The basis of allotment was finalized on June 24, 2026, and the company's shares were listed on the NSE and BSE on June 29, 2026.
The company had fixed the price band at ₹144 to ₹152 per share, with a lot size of 98 shares. Retail investors were required to make a minimum investment of ₹14,896 (based on the upper price band) to apply for one lot.
KFin Technologies Limited served as the registrar to the issue. Jefferies India Private Limited, ICICI Securities Limited, JM Financial Limited, and Motilal Oswal Investment Advisors Ltd acted as the Book Running Lead Managers (BRLMs) to the issue.
With the successful completion of the IPO process, Turtlemint Fintech Solutions Limited is now a publicly listed company on the NSE and BSE. Investors can track the company's share price, trading performance, financial results, and corporate announcements through the stock exchanges.
Turtlemint Fintech IPO Timeline (Tentative)
- IPO Open Date
- Fri, 19 Jun 26
- IPO Close Date
- Tue, 23 Jun 26
- Basis of Allotment
- Wed, 24 Jun 26
- Initiation of Refunds
- Thu, 25 Jun 26
- Credit of Shares to Demat
- Thu, 25 Jun 26
- Listing Date
- Mon, 29 Jun 26 — NSE & BSE
Open Date
19 June 2026
Close Date
23 June 2026
Basis Of Allotment
24 June 2026
Listing Date
29 June 2026
IPO Subscription
Check Live Subscription →The Turtlemint Fintech IPO has received bids for 3,95,47,704 shares against 3,29,01,878 shares offered, resulting in an overall subscription of 1.2x. the NII category is subscribed 0.52x, Retail Investors 1.07x, and QIBs 1.59x. Within the NII category, BNII is subscribed 0.52x, while SNII is subscribed 0.54x.
QIB
1.59x
NII
0.52x
BNII
0.52x
SNII
0.54x
RII
1.07x
Total
1.2x
IPO Reservations
The Retail Individual Investor (RII) category has the highest allocation with 60,48,531 shares, representing 18.38% of the total issue. Qualified Institutional Buyers (QIBs) are allocated 1,77,80,550 shares (54.04%), while Non-Institutional Investors (NIIs) receive 90,72,797 shares (27.58%).
| Category | Shares Offered | Shares Offered % |
|---|---|---|
| Qualified Institutions | 17,780,550 | 54.04% |
| Non-Institutional | 9,072,797 | 27.58% |
| BNII | 6,048,532 | 18.38% |
| SNII | 3,024,265 | 9.19% |
| Retail Investors | 6,048,531 | 18.38% |
| Total | 32,901,878 | 100% |
Financials Details(₹ in Crores)
| Particular | 31 Dec 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 467.14 | 578.69 | 612.55 | 900.37 |
| Revenue | 748.91 | 693.21 | 119.12 | 460.11 |
| Profit After Tax | -187.39 | -194.11 | -193.35 | -288.18 |
| Net Worth | 295.68 | 410.46 | 563.8 | 743.45 |
| Reserve & Surplus | 288.77 | 408.88 | 562.22 | 741.87 |
| Total Borrowings | 0 | 0 | 0 | 0 |
Financials Performance
Performance Indicators
EPS Pre
Earnings per share before the IPO.
P/E Pre
IPO Offer Price ÷ EPS Pre.
EPS Post
Expected earnings per share after the IPO..
P/E (Post Issue)
IPO Offer Price ÷ EPS Post.
Turtlemint Fintech Solutions Limited KPI Information
| Particular | Dec 2025 | Mar 2025 | Mar 2024 | Mar 2023 |
|---|---|---|---|---|
| ROE % | 0 | -95.18 | 32.67 | 0 |
| ROCE % | 0 | -59.09 | 44.97 | 0 |
| Debt / Equity | 0 | 0.15 | 0.6 | 0 |
| RoNW % | -63.38 | -47.29 | -34.29 | -38.76 |
Peers Comparison
| Company | Face Value | PE Ratio | EPS Basic | EPS Diluted | RoNW | Net Assets |
|---|---|---|---|---|---|---|
| Turtlemint Fintech Solutions Ltd | 1 | 0.00 | -7.33 | -7.33 | -47.29 | 7768.02 |
| PB Fintech | 2 | 202.33 | 7.77 | 7.65 | 5.74 | 140.06 |
About Turtlemint Fintech Solutions Limited
Founded in 2015, Turtlemint Limited is a technology-enabled insurance distribution platform that connects customers, insurance advisors, and insurance companies through an integrated "phygital" model that combines digital capabilities with a strong on-ground advisory network. The company is one of the pioneers in adopting the Point-of-Sale Person (PoSP) distribution framework in India and has built the largest certified PoSP network among its peer group.
Turtlemint empowers its Digital Partners with a comprehensive platform that enables them to compare, recommend, and distribute insurance products from multiple insurers while also managing customer acquisition, policy servicing, claims assistance, training, and lead management. Through its proprietary advisor application, Turtlemint Pro, the company provides a seamless digital ecosystem for insurance distribution and customer engagement.
Business Model and Operations
Turtlemint operates a scalable, technology-driven insurance marketplace that offers access to a broad portfolio of insurance products across life, health, motor, and other insurance segments. The company has established partnerships with 45 insurance companies, enabling customers to choose from a wide range of insurance solutions tailored to their needs.
Between April 2022 and December 2025, Turtlemint facilitated the distribution of more than 21.87 million insurance policies and generated platform premiums exceeding ₹10,066 crore. The company's services have reached 19,171 pin codes, representing nearly 98% of India's pin codes, demonstrating its extensive geographic reach.
As of December 31, 2025, Turtlemint's network comprised over 6.32 lakh Digital Partners, including more than 5.07 lakh certified PoSPs. The company has established a particularly strong presence in India's B30+ markets (cities beyond the top 30 by population), with over 80% of its Digital Partners operating in these underserved regions.
Technology and Innovation
The company leverages advanced technology, artificial intelligence, and mobile-first solutions to enhance insurance accessibility and improve customer experiences. Its AI-powered platform supports multiple aspects of the insurance lifecycle, including customer acquisition, policy servicing, claims management, partner training, and business analytics.
By combining digital tools with a large physical advisory network, Turtlemint has created a scalable distribution ecosystem that helps improve insurance penetration across India, particularly in underpenetrated markets.
Workforce
As of December 31, 2025, Turtlemint employed 2,348 permanent employees across key functions including sales, technology, product development, operations, customer support, and corporate services.
Key Strengths
1. Market Leadership in PoSP Distribution
Turtlemint is a leading player in India's PoSP-based insurance distribution ecosystem and has built the largest certified PoSP network among its peers.
2. Extensive Distribution Network
The company benefits from a vast network of over 6.32 lakh Digital Partners, enabling deep market penetration and strong customer reach across urban and rural India.
3. Strong Insurer Partnerships
Partnerships with 45 insurance companies provide access to a diversified product portfolio spanning life, health, motor, and other insurance categories.
4. Strong Presence in B30+ Markets
More than 80% of Turtlemint's Digital Partners operate in B30+ markets, positioning the company to capitalize on significant growth opportunities in underserved regions.
5. Scalable Technology Platform
Its technology-driven phygital model allows efficient scaling while maintaining strong customer engagement and partner productivity.
6. AI-Powered Ecosystem
The company's proprietary technology platform utilizes artificial intelligence and data-driven insights to improve lead generation, policy recommendations, servicing efficiency, and claims support.
7. Strong Network Effects
A large advisor base attracts insurers, while a broad insurer network enhances value for advisors and customers, creating a powerful and sustainable network effect.
8. Consistent Business Growth
Turtlemint has demonstrated strong growth in platform premiums, policy distribution volumes, and earnings, supported by favorable unit economics and high Digital Partner retention.
9. Experienced Leadership and Investor Backing
The company is led by an experienced promoter team and is supported by prominent institutional investors, providing strategic guidance and financial strength for future growth.
Conclusion
Turtlemint has emerged as one of India's leading insurance distribution platforms by combining technology, artificial intelligence, and a vast advisory network. Its strong market position, extensive insurer partnerships, deep penetration into underserved markets, and scalable phygital business model position the company well to benefit from the growing insurance penetration opportunity in India.
Turtlemint Fintech IPO Promoters
- Anand Rohidas Prabhudesai
- Dhirendra Nalin Mahyavanshi
Promoters Holding
Holding Pre Issue
17.05%
Holding Post Issue
13.10%
Turtlemint Fintech IPO Objective
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects.
- Expenditure towards cloud and server related infrastructure of the Company
- Salary expenditure towards the technology and product development teams of the Company
- Expenditure towards marketing initiatives by the Company
- Expenditure towards lease payments for existing properties of the Company and wholly owned Subsidiary, TIB, breakup of which is as follows: Expense by the Company
- Expenditure towards lease payments for existing properties of thr Company and wholly owned Subsidiary, TIB, breakup of which is as follows: Expense by wholly owned Subsidiary, TIB
- Investment in wholly owned Subsidiary, TIB, for funding its working capital requirements
- Funding inorganic growth through unidentified acquisitions and strategic initiatives and general corporate purposes
Turtlemint Fintech Solutions Limited Address / Contact Details
Turtlemint Fintech Solutions Ltd. Address
The ORB – Sahar, 4B,
1st Floor, A Wing, Marol Vill
Andheri (East),
Mumbai, Maharashtra, 400099
Tel: 022-68387400
Email:companysecretary@turtlemint.com
Website:https://www.turtlemintinsurance.com/
IPO Snapshot
Turtlemint Fintech IPO Lot Size
The Turtlemint Fintech IPO has a lot size of 98 shares. Retail investors require a minimum investment of ₹14,896 by applying for 1 lot (98 shares). The maximum application allowed for the retail category is 13 lots (1,274 shares), requiring an investment of ₹1,93,648.
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 98 | 14,896.00 |
| Retail (Max) | 13 | 1,274 | 193,648.00 |
| S-HNI (Min) | 14 | 1,372 | 208,544.00 |
| S-HNI (Max) | 67 | 6,566 | 998,032.00 |
| B-HNI (Min) | 68 | 6,664 | 1,012,928.00 |
Issue Reservation
- QIB — 54.04%
- NII — 27.58%
- RII — 18.38%
Book Running Lead Managers
- Jefferies India Private Limited
- ICICI Securities Limited
- JM Financial Limited
- Motilal Oswal Investment Advisors Ltd
IPO Documents & Links
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Disclaimer: This data is for informational purposes only and does not constitute investment advice.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
What is the Turtlemint Fintech IPO?
Turtlemint Fintech IPO is a Book-building IPO with a total issue size of ₹883 crore. The Turtlemint Fintech IPO price band is ₹144 to 152 per share. The Turtlemint Fintech IPO subscription opens on Fri, Jun 19, 2026, and closes on Tue, Jun 23, 2026. The Turtlemint Fintech IPO will be listed on the BSE,NSE. KFin Technologies Limited is the registrar for the Turtlemint Fintech IPO.
When will the Turtlemint Fintech IPO open for subscription?
The Turtlemint Fintech IPO opens on Fri, Jun 19, 2026 and closes on Tue, Jun 23, 2026
What is Turtlemint Fintech IPO Price Band?
Turtlemint Fintech IPO Price Band is ₹144 to 152 per share.
What is Turtlemint Fintech IPO Lot Size?
Turtlemint Fintech IPO lot size is 98 shares, Retail investors need a minimum investment of ₹14896 based on the upper price band
What is the minimum investment for Turtlemint Fintech IPO?
The minimum investment for Turtlemint Fintech IPO is ₹14896, based on one lot of 98 shares at the upper price band of ₹152 per share.
How to apply for Turtlemint Fintech IPO?
Investors can apply for the Turtlemint Fintech IPO through the ASBA (Application Supported by Blocked Amount) facility offered by their bank or through UPI using a SEBI-registered broker or trading app. Select the desired lot size, enter your bid within the price band, and submit the application before Tue, Jun 23, 2026. The application amount remains blocked until the Turtlemint Fintech IPO allotment is finalized.
What is Turtlemint Fintech IPO Issue Size?
Turtlemint Fintech IPO issue size is ₹883 crores.
What is the Turtlemint Fintech IPO Allotment Date?
Turtlemint Fintech IPO allotment date is Wed, Jun 24, 2026.
Who is the Turtlemint Fintech IPO Registrar?
The registrar for Turtlemint Fintech IPO is KFin Technologies Limited. Investors can go to KFin Technologies Limited website to check Turtlemint Fintech IPO allotment status, refund processing, and other IPO-related information.
What is the Turtlemint Fintech IPO GMP?
The Turtlemint Fintech IPO GMP (Grey Market Premium) is ₹-5 as of Mon, Jun 29, 2026. Based on the upper price band of ₹152 per share, the estimated Turtlemint Fintech IPO listing price is ₹147, indicating a potential listing gain of approximately -3.29% over the issue price.
Who is the Turtlemint Fintech IPO Lead Manager?
The book-running lead managers (BRLMs) for the Turtlemint Fintech IPO are Jefferies India Private Limited, ICICI Securities Limited, JM Financial Limited, and Motilal Oswal Investment Advisors Ltd. The lead managers are responsible for managing the IPO process, including issue structuring, regulatory compliance, marketing the public issue, coordinating with investors, and ensuring a smooth listing process. For complete details, investors should refer to the Turtlemint Fintech IPO Red Herring Prospectus (RHP).