Turtlemint Fintech Solutions Summary
The nature of the business entails being a tech-enabled platform whereby insurance advisors, customers, and insurance companies are connected for providing insurance services such as health insurance, life insurance, motor insurance among others. Customers are able to compare insurance products on this platform so that they may make the correct choice. Other financial products offered include mutual funds and personal loans. The company was established in 2015. Apart from production processes, the tech-enabled platform provides insurance comparisons.
In terms of the process involved in business operations, the company conducts all activities through a tech-enabled platform. The activities include connecting insurance advisors, customers, and insurance companies. There will be no challenge with regard to maintaining a steady flow of income because the company provides products such as health insurance, life insurance, motor insurance comparisons, mutual funds, and personal loans.
The BSE, NSE book-built issue by Turtlemint Fintech Solutions Limited, wherein face value is ₹1 per share with the price band of ₹144.00–₹152.00 per share. Issue size of ₹882.67 Cr, out of which the new issue is of ₹660.72 Cr (fresh issue), and Offer for Sale is ₹221.95 Cr. Issue is bifurcated between QIBs (not less than 75% of the offer size), NII (not more than 15% of the offer), and Retail Investors (not more than 10% of the offer), and tentative listing of the stock will be on BSE and NSE on 29th June 2026.
Turtlemint Fintech Solutions IPO Details:
Turtlemint Fintech Solutions Limited Issue Management:
ICICI Securities Ltd. acts as the book-running lead manager for Turtlemint Fintech Solutions NSE BSE Mainboard IPO, managing underwriting and compliance.
Turtlemint Fintech Solutions Limited IPO RTA (Registrar) Details:
Kfin Technologies Ltd. handles allotment, refunds, and demat credits - contact at 04067162222, 04079611000 or turtlemint.ipo@kfintech.com.
Turtlemint Fintech Solutions Limited IPO Allotment Status:
To check your IPO allotment status:
Visit the Kfin Technologies Ltd. IPO Application Status page.
Select the company name from the dropdown menu.
Select and enter PAN, Application Number, DP/Client ID, or Account Number/IFSC.
Click Submit to view your allotment status.
Turtlemint Fintech Solutions IPO totals ₹882.67 Cr, comprising a fresh issue of ₹660.72 Cr and ₹221.95 Cr offer for sale. The face value is ₹1 per share and the price band is ₹144.00–₹152.00 per share (book-built issue on BSE and NSE).
Turtlemint Fintech Solutions Limited IPO proceeds from the fresh issue will be deployed towards:
Turtlemint Fintech Solutions IPO offers 58,070,399 equity shares (total issue ₹882.67 Cr, fresh issue is 660.72 Cr and offer for sale 221.95 Cr shares).
The anchor bidding for Turtlemint Fintech Solutions Ltd. BSE, NSE IPO is scheduled one working day before the issue opens on 19th June 2026 (i.e., 18th June 2026), and anchor investors will be allotted shares from the QIB portion (within the overall QIB tranche, as per IPO structure). As per the IPO reservation details, the QIB portion accounts for not less than 75% of the offer size, with no specific anchor investor allocation disclosed yet. The NII (HNI) portion is not more than 15% of the offer and the Retail portion is not more than 10% of the offer.
Lock-in: The anchor allocation follows standard IPO norms, where 50% of the anchor shares are locked in for 30 days and the remaining 50% for 90 days from the listing date. The issue is scheduled to list on 29th June 2026 on BSE, NSE.
The anchor allocation details and investor list will be disclosed in the anchor book before the IPO opening. ICICI Securities Ltd. is the Book Running Lead Manager (BRLM) to the issue, and the registrar for the IPO is Kfin Technologies Ltd.
The profit earned from Turtlemint Fintech Solutions Limited is from the platform created by using technology that connects insurance advisers, clients, and insurance firms to provide insurance products such as health insurance, life insurance, motor insurance comparison, and also provides access to mutual funds and personal loans.
In terms of looking at the performance of the company, one can say that Total Income in this case was growing and had the value of ₹460.11 crore in FY23, ₹119.12 crore in FY24 (a decrease), ₹693.21 crore in FY25, and ₹748.91 crore (Dec 2025). However, in regard to PAT, one could say that it has been negative: -₹288.18 crore in FY23, -₹193.35 crore in FY24, -₹194.11 crore in FY25, and -₹187.39 crore (Dec 2025). In terms of EBITDA, it was N/A in FY23-FY24, ₹82.43 crore in FY25, and ₹81.58 crore (Dec 2025). One should pay attention to the EBITDA margin that was equal to 12.44% in FY25 and 11.01% (Dec 2025). The ROE and ROCE of the firm are negative: -95.18% and -59.09%, respectively (Dec 2025). Moreover, the RoNW of the firm is negative: -63.38% (Dec 2025). The net worth of the firm has declined from ₹743.45 crore in FY23 to ₹563.80 crore in FY24, to ₹410.46 crore in FY25, and ₹295.68 crore (Dec 2025).
Action Links:
To apply for Turtlemint Fintech Solutions Limited IPO, open a demat account here
Turtlemint Fintech Solutions Limited IPO Subscription Status: Check live subscription here
Turtlemint Fintech Solutions Limited IPO GMP Update: Check latest grey market premium here
Turtlemint Fintech Solutions Key Highlights:
Turtlemint Fintech Solutions Ltd" involves the operation of a technology-based platform that links insurance advisors, clients, and insurance companies to provide insurance services such as health insurance, life insurance, motor insurance comparison, and access to mutual funds and personal loans.
Though the firm has displayed financial performance with the total income amounting to ₹460.11 crore in FY23, ₹119.12 crore in FY24, ₹693.21 crore in FY25, and ₹748.91 crore (Dec 2025), there is a negative PAT of -₹288.18 crore in FY23, -₹193.35 crore in FY24, -₹194.11 crore in FY25, and -₹187.39 crore (Dec 2025). There is an increase in the EBITDA value of ₹82.43 crore in FY25 and ₹81.58 crore (Dec 2025), along with the EBITDA margin of 12.44% (FY25) and 11.01% (Dec 2025). The ROE and ROCE values are negative at -95.18% and -59.09%, respectively (Dec 2025), with RoNW at -63.38% (Dec 2025). Net worth has declined significantly from ₹743.45 crore in FY23 to ₹563.80 crore in FY24, to ₹410.46 crore in FY25, and ₹295.68 crore (Dec 2025).
Turtlemint Fintech Solutions Risk Factors:
The risks of Turtlemint Fintech Solutions Limited IPO are mentioned below:
Dependencies on Insurance Distributors Industry: Dependencies on insurance consultants, customers, and insurance firms. Drop in insurance business or delay in forming partnerships will negatively affect the earnings.
Price Instability for Critical Services: Dependency on technology platform services. Changes in the prices of services will cause a huge negative impact on profit margins.
Regulatory Compliance Issues: Technology platform requires regulatory compliance with insurance and financial laws; failing to comply causes risks.
Liquidity Risk due to Listing: Listing of business in BSE and NSE with issue size of ₹882.67 Cr.
Negative Profitability: Company is in continuous losses with PAT of –₹288.18 cr in FY23, –₹193.35 cr in FY24, –₹194.11 cr in FY25, and –₹187.39 cr (Dec 2025).
Negative Return on Equity and Capital Employed: Negative ROE and ROCE are –95.18% and –59.09%, respectively (Dec 2025), with RoNW being –63.38%.
Decrease in Net Worth: From FY23 to FY24, net worth has reduced from ₹743.45 crore to ₹563.80 crore, then to ₹410.46 crore in FY25, and ₹295.68 crore (as of Dec 2025).
Promoters' Stake at Risk Due to Post-IPO Dilution: After IPO, the promoter's share in the business will be diluted to 13.10% from the existing 17.05%, indicating an increase of 3.95%.
High Spending on Technology and Marketing: As per the plan, the spending of ₹193.04 Cr on salaries for technology and product development team and ₹39.07 Cr on marketing shows high expenses.
Presence of Competitors in the Insurance Platforms Business: The presence of competitors in the insurance platforms and financial technology business can affect our market share.
Turtlemint Fintech Solutions Expert Analysis:
Turtlemint Fintech Solutions' IPO (BSE, NSE) is a book-built issue with a price band of ₹144.00–₹152.00 per share (face value ₹1). The total issue size is ₹882.67 Cr, comprising a fresh issue of ₹660.72 Cr and ₹221.95 Cr offer for sale. The IPO is structured for QIB (not less than 75% of the offer size), NII (not more than 15% of the offer), and Retail (not more than 10% of the offer), with the tentative listing on BSE and NSE on 29th June 2026. GMP is ₹16 as of June 16, indicating 10.53% above issue price with an estimated listing price of ₹168.
Expert View on the IPO:
The online portal is designed to help connect insurance consultants, customers, and insurance firms for the sale of insurance plans such as health insurance, life insurance, car insurance comparisons, and access to mutual funds and personal loans. The company has made losses every year with PAT at -₹187.39 crore (Dec 2025), ROE at -95.18%, ROCE at -59.09%, and RoNW at -63.38%. The net worth has fallen drastically from ₹743.45 crore in FY23 to ₹295.68 crore (Dec 2025). The company incurs huge expenses in technology and marketing amounting to ₹193.04 crore and ₹39.07 crore respectively.
Should you invest in Turtlemint Fintech Solutions?
An investor looking for a fintech and insurance platform business listed on BSE and NSE, with exposure to India's insurance and fintech sector, might find the IPO risky due to consistent losses, negative profitability metrics, declining net worth, and high operational costs. Avoid if you are risk-averse to negative profitability, regulatory compliance risks, and declining financial metrics.
Consider investing when:
Experience with running a tech-enabling platform that facilitates interaction between insurance advisors, clients, and insurance companies to provide health insurance, life insurance, motor insurance comparisons, mutual fund access, and even personal loans demands exposure to the Indian insurance and fintech industry.
There is nothing to worry about any risk regarding regulatory risks in the insurance and financial sector, cost of technology platform, negative profitability (PAT of -₹187.39 Crore), and low promoter dilution (3.95%).
You can be rest assured that the money raised through IPO will be utilized for building cloud and server capacity (₹25.64 Crore), salaries of technology and product development teams (₹193.04 Crore), marketing (₹39.07 Crore), and investment in its subsidiary TIB (₹128.64 Crore) to build its working capital.
Excellent prospects for growth in the future can be attributed to increased insurance penetration in India, digitization in insurance sales, and rising demand for financial products.
Do not invest when:
In that case, it makes sense to invest in those companies that have been running their business activities with positive profit and ROE and low costs of operations.
When it comes to risks, you will be scared about the risk associated with regulatory compliance in insurance and financial services, dependence on the technology platform, poor profitability (ROE at -95.18%, ROCE at -59.09% and RoNW at -63.38%) and high costs of operations (technology costs of ₹193.04 Crore and marketing costs of ₹39.07 Crore).
Promoter dilution (from 17.05% to 13.10% post-IPO), high expenses towards technology and marketing and competitive threat from other players in the insurance platform segment do not suit you.
Those types of business organizations that will interest you include one where there is an appropriate valuation of the business (positive P/E), profitability is positive or the business enjoys a good market position with positive ROE.
Investors are advised to exercise discretion and refer to the full DRHP/RHP document before reaching any investment decision. This analysis is for informative purposes and not investment advice.
Action Links:
To apply for Turtlemint Fintech Solutions Limited IPO, open a demat account here
Turtlemint Fintech Solutions Limited IPO Subscription Status: Check live subscription here
Turtlemint Fintech Solutions Limited IPO GMP Update: Check latest grey market premium here
1. What is the Turtlemint Fintech Solutions Limited IPO open and close date?
Turtlemint Fintech Solutions IPO opens on 19th June 2026 and closes on 23rd June 2026. The tentative listing date on BSE and NSE is 29th June 2026.
Track Turtlemint Fintech Solutions Limited IPO subscription status live here from Finnpick.
2. What is the Turtlemint Fintech Solutions Limited IPO price band and lot size?
The IPO is a book-built issue with a price band of ₹144.00–₹152.00 per share (face value ₹1). The minimum bid for retail investors is 98 shares (1 lot), with subsequent bids in multiples thereof. Minimum investment is ₹14,896.
3. What is Turtlemint Fintech Solutions Limited IPO total size?
The total issue size is ₹882.67 Cr, comprising a fresh issue of ₹660.72 Cr and ₹221.95 Cr offer for sale. The face value is ₹1 per share and the price band is ₹144.00–₹152.00 per share.
4. How to apply for the Turtlemint Fintech Solutions Limited IPO?
Open a demat here (Zerodha/Upstox/AngelOne) or apply ASBA by June 23, 4 PM. Monitor Turtlemint Fintech Solutions Limited IPO subscription tracker here. Ensure your demat account is active and UPI mandate is approved before the closing time.
5. How to check Turtlemint Fintech Solutions Limited IPO Allotment Status?
The allotment date is on June 24th and can be checked on Kfin Technologies Ltd. RTA portal using PAN/DP ID.
6. What is Turtlemint Fintech Solutions Limited IPO GMP today and subscription status?
Current Grey Market Premium (GMP) stands at ₹16 as of June 16, indicating listing at the price range of ₹168 - check daily updates of Turtlemint Fintech Solutions Limited IPO GMP trends here and live subscription status here from June 19th opening only on Finnpick.
7. What does Turtlemint Fintech Solutions Limited specialize in?
Turtlemint Fintech Solutions is engaged in operating a tech-enabled platform connecting insurance advisors, customers, and insurance companies for offering insurance products including health insurance, life insurance, motor insurance comparison, as well as mutual funds access and personal loans access. Founded in 2015.
8. When is the Turtlemint Fintech Solutions Limited IPO listing date?
The IPO is scheduled to list on NSE BSE Mainboard on 29th June 2026, subject to final confirmation from the exchange. Basis of allotment is tentatively on 24th June 2026, with refunds and demat credits around 25th June 2026.
9. Who are the promoters of Turtlemint Fintech Solutions Limited?
The promoters of Turtlemint Fintech Solutions Ltd. are Anand Rohidas Prabhudesai and Dhirendra Nalin Mahyavanshi. Promoter holding is 17.05% pre-IPO and 13.10% post-IPO.
