Turtlemint Fintech Solutions IPO
Turtlemint Fintech Solutions IPO
Overview
Turtlemint Fintech Solutions IPO is a book build issue of ₹882.67 crores. The issue is a combination of fresh issue of 4.35 crore shares aggregating to ₹660.72 crores and offer for sale of 1.46 crore shares aggregating to ₹221.95 crores. Turtlemint Fintech Solutions IPO opens for subscription on Jun 19, 2026 and closes on Jun 23, 2026. The allotment for the Turtlemint Fintech Solutions IPO is expected to be finalized on Jun 24, 2026. Turtlemint Fintech Solutions IPO will list on NSE and BSE with a tentative listing date fixed as Jun 29, 2026. Turtlemint Fintech Solutions IPO is set issue price band at ₹144 to ₹152 per share. The lot size for an application is 98 shares. The minimum amount of investment required by an individual investor (retail) is ₹14,896 (98 shares) (based on upper price). The lot size investment for sNII is 14 lots (1,372 shares), amounting to ₹2,08,544, and for bNII, it is 68 lots (6,664 shares), amounting to ₹10,12,928. ICICI Securities Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Total Shares
5,80,70,398
Issue Size
₹883 Cr
Price Band
₹144 – ₹152
Lot Size
98 shares
Min. Investment
₹14,896
Max. Investment
₹1,93,648
Open Date
19 Jun, 2026
Close Date
23 Jun, 2026
Allotment
24 Jun, 2026
Listing
29 Jun, 2026
Max. Investment
₹1,93,648
Announced
19 Jun, 2026
Opening Date
19 Jun, 2026
Closing Date
23 Jun, 2026
Basis of Allotment
24 Jun, 2026
Initiation of Refunds
25 Jun, 2026
Credit of Shares
25 Jun, 2026
Listing Date
29 Jun, 2026
Live GMP
Est. Listing: ₹168
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About Turtlemint Fintech Solutions IPO
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 distribut
Turtlemint Fintech Solutions IPO Share Price
Issue Breakdown
Shareholding
Turtlemint Fintech Solutions IPO Financial Health
Turtlemint Fintech Solutions IPO Lot Size
Investors can bid for a minimum of 98 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 98 | ₹14,896 |
| Retail (Max) | 13 | 1274 | ₹1,93,648 |
| S-HNI (Min) | 14 | 1372 | ₹2,08,544 |
| S-HNI (Max) | 67 | 6566 | ₹9,98,032 |
| B-HNI (Min) | 68 | 6664 | ₹10,12,928 |
(All values in CR)
Turtlemint Fintech Solutions IPO Valuations
| Metric | Value |
|---|---|
| ROE | - |
| ROCE | - |
| Debt/Equity | - |
| RoNW | 63.38 |
| EBITDA Margin | 11.01 |
| Price to Book Value | 2.77 |
(All values in CR)
Turtlemint Fintech Solutions IPO Strength & Risk
Strengths – Turtlemint Fintech Solutions IPO
- Leading insurtech platform with a large insurance advisor and PoSP network
- Strong presence in Tier 2, Tier 3, and rural markets
- Partnerships with multiple insurance companies across product categories
- Asset-light business model with scalable operations
- Technology-driven platform enabling efficient insurance distribution
- Benefits from increasing insurance awareness and digital adoption in India
- Strong network effect supporting long-term growth
- Well-positioned in a fast-growing insurtech market
Risks – Turtlemint Fintech Solutions IPO
- Continues to incur losses and has not achieved consistent profitability
- Negative operating cash flows in recent years
- High dependence on motor insurance business
- Reliance on advisor and partner retention for growth
- Revenue concentration among key insurer partners
- Regulatory changes could impact commissions and operations
- Intense competition from insurance distributors and insurtech companies
- Cybersecurity and technology-related risks
- Execution risk in achieving sustainable profitability
- Potential valuation concerns if priced aggressively at IPO launch
Turtlemint Fintech Solutions IPO GMP
Turtlemint Fintech Solutions IPO last GMP is ₹16, last updated Jun 16th 2026 11:34 AM. With the price band of 152.00, Turtlemint Fintech Solutions IPO's estimated listing price is ₹168 (cap price + today's GMP).The expected percentage gain/loss per share is 10.53%. >> Turtlemint Fintech Solutions IPO Retail Subject to Sauda: ₹1200 >> Turtlemint Fintech Solutions IPO Small HNI Subject to Sauda: ₹16800
Last updated 16 Jun, 2026 · Source: aggregated grey-market dealers
| Date | IPO Price | GMP | Sub2 Sauda | Est. Listing | Est. Profit | Updated |
|---|---|---|---|---|---|---|
| 16 Jun, 2026 | 52 | ₹16▲ | - | ₹168 (10.53%) | 1568 | 16 Jun, 2026 |
| 15 Jun, 2026 | 0 | ₹0 | - | ₹ (%) | - | 15 Jun, 2026 |
Disclaimer: GMP is an unofficial signal from grey-market dealers and is not regulated by SEBI. Use it alongside subscription data and other research for informed decision-making.
How to Apply for Turtlemint Fintech Solutions IPO
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Find Turtlemint Fintech Solutions IPO under the IPO section. Select it and enter your bid details — choose lot size and price (cut-off price recommended).
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Your funds will be blocked in your account until the IPO allotment process is completed.