Bookbuilding IPO | ₹883 Cr | Listed at BSE, NSE | Fri, Jun 19, 2026 - Tue, Jun 23, 2026
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 bidding started from Jun 19, 2026 and ended on Jun 23, 2026. The allotment for Turtlemint Fintech Solutions IPO was finalized on Jun 24, 2026. The shares got listed on NSE and BSE on Jun 29, 2026.
Turtlemint Fintech Solutions IPO is set final issue price at ₹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.
Refer to Turtlemint Fintech Solutions IPO RHP for detailed Information.
IPO Open
Fri, Jun 19, 2026
IPO Close
Tue, Jun 23, 2026
Issue Price
₹152 per share
Market Cap (Pre-IPO)
₹4,476.08 Cr
| IPO Date | 19 to 23 Jun, 2026 |
| Listed on | Mon, Jun 29, 2026 |
| Face Value | ₹1 per share |
| Price Band | ₹144 to ₹152 |
| Issue Price | ₹152 per share |
| Lot Size | 98 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 5,80,70,398 shares (agg. up to ₹883 Cr) |
| Fresh Issue | 4,34,68,552 shares (agg. up to ₹661 Cr) |
| Offer for Sale | 1,46,01,846 shares of ₹1 (agg. up to ₹222 Cr) |
| Share Holding Pre Issue | 25,10,10,354 shares |
| Share Holding Post Issue | 29,44,78,906 shares |
| BSE Script Code / NSE Symbol | 544799 / TURTLEMINT |
| ISIN | INE0OC301013 |
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% |
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 | 1,274 | ₹1,93,648 |
| S-HNI (Min) | 14 | 1,372 | ₹2,08,544 |
| S-HNI (Max) | 67 | 6,566 | ₹9,98,032 |
| B-HNI (Min) | 68 | 6,664 | ₹10,12,928 |
Turtlemint Fintech Solutions IPO raises ₹397.20 crore from anchor investors. Turtlemint Fintech Solutions IPO Anchor bid date is June 18, 2026.
📝 Anchor Investors Letter (PDF)
| Bid Date | Thu, Jun 18, 2026 |
| Shares Offered | 2,61,31,680 |
| Anchor Portion (₹ Cr.) | 397.20 |
| Anchor lock-in period end date for 50% shares (30 Days) | Thu, Jul 23, 2026 |
| Anchor lock-in period end date for remaining shares (90 Days) | Mon, Sep 21, 2026 |
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. The platform provides access to life, health, motor, and other insurance products through partnerships with 45 insurer partners.
The company has facilitated the distribution of over 21.87 million insurance policies between April 2022 and December 2025, generating platform premium of over ₹10,066 crore across 19,171 pin codes, covering nearly 98% of India's pin codes. Turtlemint has a network of 6.32 lakh+ Digital Partners, including over 5.07 lakh certified PoSPs, supported by its proprietary advisor app, Turtlemint Pro.
Turtlemint has a strong presence in India's B30+ markets (cities beyond the top 30 by population), where over 80% of its Digital Partners are based. The company leverages AI-driven technology, mobile-first tools, and a large physical advisory network to improve insurance accessibility, customer experience, and insurance penetration across India.
As of December 31, 2025, the company employed 2,348 permanent employees across sales, technology, product development, and corporate functions.
Strengths
| 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 | ||||
| Company | Issue Type | Issue Size | Issue Price | PE Ratio | Listing Day Close | Listing Gain/Loss % | LTP |
|---|---|---|---|---|---|---|---|
| Pine Labs Ltd. | Mainboard | ₹3,900.17 Cr | ₹221 | -160.13 | ₹250.89 | +13.52% | ₹155.81 (-0.54%) |
| Seshaasai Technologies Ltd. | Mainboard | ₹813.28 Cr | ₹423 | 28.63 | ₹411.45 | -2.73% | ₹327.30 (+5.48%) |
| Finbud Financial Services Ltd. | SME | ₹71.68 Cr | ₹142 | 23.4 | ₹164.85 | +16.09% | ₹129.70 (+7.41%) |
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 |
| 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 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | -7.73 | -ve |
| P/E (x) | -19.66 | -ve |
| Promoter Holding | 17.05% | 13.10% |
| Market Cap | ₹4,476.08 Cr. |
The Turtlemint Fintech Solutions IPO is subscribed 1.24 times on June 23, 2026 6:52:43 PM (Day 3). The public issue subscribed 1.11 times in the retail category, 1.63 times in the QIB category, and 0.55 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (x) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB (Ex Anchor) | 1.63 | 1,74,21,119 | 2,83,32,486 |
| NII | 0.55 | 87,10,560 | 47,60,840 |
| bNII (> ₹10L) | 0.54 | 58,07,040 | 31,40,508 |
| sNII (< ₹10L) | 0.56 | 29,03,520 | 16,20,332 |
| Retail | 1.11 | 58,07,040 | 64,54,378 |
| Total | 1.24 | 3,19,38,719 | 3,95,47,704 |
Total Applications: 52,935
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | BRLMs fees and commissions (including underwriting commission, brokerage and selling commission) | 39.06 |
| 2 | Fees payable to the Registrar to the Offer | 0.02 |
| 3 | Selling commission/processing fee for SCSBs and Bankers to the Offer, fee payable to the Sponsor Bank for Bids made by RIIs using UPI, brokerage and selling commission and bidding charges for the Members of the Syndicate, Registered Brokers, RTAs and CDPs | 0.61 |
| 4 | Advertising and marketing expenses | 4.32 |
| 5 | Other expenses-Listing fees, SEBI filing fees, BSE and NSE processing fees, book building software fees | 3.91 |
| 6 | Other expenses-Other regulatory expenses | 0.34 |
| 7 | Other expenses-printing and stationery expenses | 1.05 |
| 8 | Other expenses-Fees payable to the legal counsel | 11.57 |
| 9 | Other expenses-Fees payable to other advisors to the Offer, including but not limited to Statutory Auditors, independent chartered accountant, industry expert, and independent chartered engineer | 13.45 |
| 10 | Miscellaneous | 5.69 |
| Total | 80.01 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹152.00 | ₹152.00 |
| Open | ₹136.20 | ₹134.90 |
| Low | ₹132.15 | ₹132.00 |
| High | ₹144.90 | ₹144.95 |
| Last Trade | ₹135.40 | ₹135.37 |
Turtlemint Fintech Solutions IPO is a main-board IPO of 5,80,70,398 equity shares of the face value of ₹1 aggregating up to ₹883 Crores. The issue is priced at ₹152 per share. The minimum order quantity is 98.
The IPO opens on Fri, Jun 19, 2026, and closes on Tue, Jun 23, 2026.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Turtlemint Fintech Solutions IPO using UPI as a payment gateway. Zerodha customers can apply in Turtlemint Fintech Solutions IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Turtlemint Fintech Solutions IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Turtlemint Fintech Solutions IPO opens on Fri, Jun 19, 2026 and closes on Tue, Jun 23, 2026.
Turtlemint Fintech Solutions IPO lot size is 98, and the minimum amount required for application is ₹14,896.
You can apply in Turtlemint Fintech Solutions IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Turtlemint Fintech Solutions IPO will be done on Wednesday, June 24, 2026, and the allotted shares will be credited to your demat account by Thu, Jun 25, 2026. Check the Turtlemint Fintech Solutions IPO allotment status.
The Turtlemint Fintech Solutions IPO listing date is on Mon, Jun 29, 2026.
