Turtlemint Fintech Solutions Limited IPO: Price, GMP, Dates & Review

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Turtlemint Fintech Solutions Limited IPO
TF
Turtlemint Fintech Solutions Limited IPO
Insurance Distribution Platform · Certified PoSP Quotas · Phygital Technology · Pan-India Network
📋 Mainboard IPO Fresh Issue cum OFS BSE, NSE
₹152
Upper Price
₹882.67 Cr
Issue Size
Jun 29, 2026
Listing Date
TBD
Market Cap
📋 IPO Timetable
All dates tentative
🟢
IPO Opens
Friday, 19 June 2026
Bidding starts — apply before close
🔒
IPO Closes
Tuesday, 23 June 2026
Last day to bid — closes at 5:00 PM IST
📊
Wednesday, 24 June 2026
Allotment finalised by registrar
🔄
Thursday, 25 June 2026
Unallotted funds returned; shares credited to demat
🏷️
Monday, 29 June 2026
Trading begins from 10:00 AM IST
📋 IPO Details
IPO Open Date19 June 2026 (Fri)
IPO Close Date23 June 2026 (Tue)
Listing Date29 June 2026 (Mon)
Face Value₹1 per share
Price Band₹144 to ₹152
Issue Price (Upper Band)₹152 per share
Issue TypeBook Build — Fresh cum OFS
Lot Size98 shares
Total Issue Size5,80,70,398 shares (₹882.67 Cr)
Fresh Issue4,34,68,552 shares (₹660.72 Cr)
Offer for Sale1,46,01,846 shares (₹221.95 Cr)
Pre-Issue Shares25,10,10,354
Promoter Holding (Pre)17.05%
Promoter Holding (Post)13.10%
Lead ManagerICICI Securities Ltd.
RegistrarKfin Technologies Ltd.
💰 Lot Size & Minimum Investment
At upper price ₹152
Investor TypeLotsSharesAmount
Retail — Minimum198₹14,896
Retail — Maximum131,274₹1,93,648
S-HNI (sNII) — Min141,372₹2,08,544
S-HNI (sNII) — Max676,566₹9,98,032
B-HNI (bNII) — Min686,664₹10,12,928
ℹ️ Bidding Structure: Investors can bid for a minimum of 98 shares and in multiples thereof.
👥 Investor Allocation
Total 5,80,70,398 shares
≥ 75.00%
QIB Portion
of offer size
≤ 10.00%
Retail Quota
of offer size
≤ 15.00%
NII Quota
of offer size
📊 Live Subscription Status
Awaiting Bidding
Subscription data will be available once bidding begins on June 19, 2026. Check back for live updates from 10:00 AM IST.
📈 Company Financials
Restated Consolidated · ₹ Crore
Metric31 Dec 202531 Mar 202531 Mar 202431 Mar 2023
Total Assets467.14578.69612.55900.37
Total Income748.91693.21119.12460.11
PAT-187.39-194.11-193.35-288.18
Net Worth295.68410.46563.80743.45
Total Borrowing0.000.000.000.00
Income Performance
FY 2024–25₹693.21 Cr
9M FY26 (Dec 2025)₹748.91 Cr
🎯 Key Performance Indicators
-59.09%
ROCE
FY 2025
-47.29%
RoNW
FY 2025
0.15
Debt/Equity
Dec 31, 2025
-95.18%
ROE (9M)
Dec 31, 2025
-63.38%
RoNW (9M)
Dec 31, 2025
11.01%
EBITDA Margin
Dec 31, 2025
12.44%
EBITDA Margin
Mar 31, 2025
2.77x
Price/Book
Dec 31, 2025
⚖️ Valuation & EPS
Pre-IPO EPS
-₹7.73
Negative due to net consolidated losses
Post-IPO P/E (x)
-19.66x
Negative valuation multiplier metrics
Price to Book Value
0.02x
At March 31, 2025 book valuation base
Market Cap Target
TBD
To be formalized post price determination
🎯 Objects of the Issue
Net proceeds project targets
1
Expenditure towards cloud and server related infrastructure of the Company
₹25.64 Cr
2
Salary expenditure towards the technology and product development teams of the Company
₹193.04 Cr
3
Expenditure towards marketing initiatives by the Company
₹39.07 Cr
4
Expenditure towards lease payments for existing properties of the Company & Wholly Owned Subsidiary (TIB)
₹43.08 Cr
5
Investment in Wholly Owned Subsidiary, TIB, for funding its working capital requirements
₹128.64 Cr
Total Net Proceeds Target ₹429.47 Cr
🏢 About Turtlemint Fintech Solutions Limited
Est. 2015 · Mumbai, Maharashtra · Insurance Distribution Platform

Turtlemint Fintech Solutions Limited operates a technology-enabled insurance distribution platform that connects customers, insurance advisors (Digital Partners), and insurers through a highly successful phygital (physical + digital) model. The company was among the pioneers to adopt the Point-of-Sale Person (PoSP) distribution framework and has built India’s largest certified PoSP network among its peer group.

The platform provides streamlined access to life, health, motor, and alternative insurance products through deep partnerships with 45 premium insurer partners. Covering nearly 98% of India’s pin codes via a widespread presence in underserved B30+ micro-markets, Turtlemint leverages AI-driven logistics, mobile-first ecosystem applications, and its proprietary advisor application, Turtlemint Pro, to steadily drive domestic insurance penetration metrics.

Competitive Strengths
✅Leading position in India’s massive PoSP-based insurance distribution ecosystem
📍Largest certified Digital Partner and PoSP network among domestic peers
📋Strong structural presence across underserved B30+ market networks
👨‍💼Scalable, AI-powered technology platform supporting real-time policy acquisition and servicing
Company Promoters
AP
Anand Rohidas Prabhudesai
Promoter, Turtlemint Fintech Solutions Limited
DM
Dhirendra Nalin Mahyavanshi
Promoter, Turtlemint Fintech Solutions Limited
📅 Key Dates
IPO Opens19 June 2026
IPO Closes23 June 2026
Allotment24 June 2026
Refund & Share Credit25 June 2026
Listing Day29 June 2026
💡 Quick Summary
Price Band₹144 – ₹152
Issue Price₹152 / share
Lot Size98 shares
Min. Investment (Retail)₹14,896 (1 lot)
Issue Size₹882.67 Cr
Listing PlatformsBSE, NSE
🏦 Registrar & Lead Manager
Registrar
Kfin Technologies Ltd.
📞 040-67162222
[email protected]
Lead Manager
ICICI Securities Ltd.
📍 Registered Address
Turtlemint Fintech Solutions Ltd.
The ORB – Sahar, 4B, 1st Floor, A Wing,
Marol Vill, Andheri (East),
Mumbai, Maharashtra — 400099
📞 1800 266 0101
[email protected]
🛡️ Regulatory Note: Mainboard IPO investments are subject to SEBI regulations. Always read the Prospectus/RHP before applying. Consult a SEBI-registered advisor before investing.
⚠️ Disclaimer: This page presents publicly available information from the Turtlemint Fintech Solutions IPO RHP for informational purposes only. It does not constitute investment advice. IPO investments are subject to market risk. Please read all offer documents and consult a SEBI-registered advisor before investing.
📊
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