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| IPO Listing At | BSE, NSE |
| IPO Issue Type | Book Build Issue |
| Issue Size | ₹882.67 Cr |
| Fresh Issue | ₹660.72 Cr |
| Offer for Sale | ₹221.95 Cr |
| Face Value | ₹1 Per Equity Share |
| Price Band | ₹144.00-152.00 per share |
| BSE Code | 544799 |
| NSE Code | TURTLEMINT |
| Registrar | Kfin Technologies Ltd. |
| Lead Managers | ICICI Securities Ltd. |
Disclaimer: GMP is sourced from grey market dealers and is indicative only. Always conduct your own due diligence.
* Allotment, Refund, Demat Credit & Listing dates are tentative and subject to change.
Minimum bid: 98 shares and in multiples thereof
Turtlemint Fintech Solutions IPO comprises a total issue size of 5,80,70,398 shares. Out of which, 4,35,52,800 (75.00%) are allocated to QIB, 87,10,559 (15.00%) allocated to NII 58,07,039 (10.00%) allocated to RII.
| Investor Category | Shares Offered | % of Total Issue | Max Allottees |
|---|---|---|---|
| QIB Shares Offered | 4,35,52,800 | 75.00% | NA |
| − Anchor Investor Shares Offered | 2,61,31,680 | 45.00% | NA |
| − QIB (Ex. Anchor) Shares Offered | 1,74,21,120 | 30.00% | NA |
| NII (HNI) Shares Offered | 87,10,559 | 15.00% | NA |
| − bNII > ₹10L | 58,07,040 | 10.00% | 4,232 |
| − sNII < ₹10L | 29,03,519 | 5.00% | 2,116 |
| Retail Shares Offered | 58,07,039 | 10.00% | 59,255 |
| Total Shares Offered | 5,80,70,398 | 100.00% |
Founded in 2015, Turtlemint Fintech is a tech-enabled platform, connecting insuracen advisors, customers and insurance company for offering insurance products, including health insurance, life insurance, motor insurance, etc.
The platform allows users to compare various types of insurance to help them buy the right plan.
It also offers access to other products like mutual funds, and personal loans.
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Expenditure towards cloud and server related infrastructure of the Company | 25.64 |
| 2 | Salary expenditure towards the technology and product development teams of the Company | 193.04 |
| 3 | Expenditure towards marketing initiatives by the Company | 39.07 |
| 4 | 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 | 22.21 |
| 5 | 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 | 20.87 |
| 6 | Investment in wholly owned Subsidiary, TIB, for funding its working capital requirements | 128.64 |
| 7 | Funding inorganic growth through unidentified acquisitions and strategic initiatives and general corporate purposes | 151.24 |
| 8 | Issue Expenses | 80.01 |
| Total | 660.72 |
| Period Ended | 31 Dec 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 467.14 | 578.69 | 612.55 | 900.37 |
| Total Income | 748.91 | 693.21 | 119.12 | 460.11 |
| Profit After Tax | -187.39 | -194.11 | -193.35 | -288.18 |
| EBITDA | 81.58 | 82.43 | ||
| NET Worth | 295.68 | 410.46 | 563.80 | 743.45 |
| Reserves and Surplus | 288.77 | 408.88 | 562.22 | 741.87 |
| Total Borrowing | 0.00 | 0.00 | 0.00 | |
| Amount in ₹ Crore | ||||
| KPI | Dec 31, 2025 | Mar 31, 2025 |
|---|---|---|
| ROE | -95.18% | |
| ROCE | -59.09% | |
| Debt / Equity | 0.15% | |
| RoNW | -63.38% | -47.29% |
| EBITDA Margin | 11.01% | 12.44% |
| Price to Book Value | 2.77 | 0.02 |
| Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS (₹) | -7.73 | -ve |
| P/E (x) | -19.66 | -ve |
| Promoter Holding | 17.05% | 13.10% |
| Market Cap | ₹4476.08 Cr. | |
