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Turtlemint Fintech Solutions IPO
Price Band
₹144.0–152.0
Issue Size
₹882.67 Cr
Lot Size
98 shares
Min Investment
₹14,896
GMP
₹-5.0 (-3.29%)
Issue Price
₹152.0
Turtlemint Fintech Solutions IPO AI Summary
- Turtlemint Fintech Solutions IPO is listed on BSE, NSE in the Insurance Distributors sector.
- Price band: ₹144.0–₹152.0 per share, lot size 98 shares (min. investment ₹14,896).
- Subscription window: 19 Jun–23 Jun 2026, listing on 29 Jun 2026.
- Current GMP is ₹-5.0 (-3.29%), an estimated listing price of ₹147 — unofficial and can change daily.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Important Dates
Subscription Status
Overall Subscription
1.24x
| Category | Subscription | Status |
|---|---|---|
| QIB (Institutional) |
1.63x
|
1.63x |
| NII (HNI) |
0.55x
|
0.55x |
| ↳ bNII (>₹10L) |
0.54x
|
0.54x |
| ↳ sNII (<₹10L) |
0.56x
|
0.56x |
| Retail (RII) |
1.11x
|
1.11x |
| Total | 1.24x | 1.24x |
Auto-updated every 5 min · As of 23rd Jun 2026 18:54
Turtlemint Fintech Solutions IPO Grey Market Premium (GMP) Today
GMP
₹-5.0
GMP %
-3.29%
Est. Listing
₹147.0
Updated: 14 Jul 2026 15:51
GMP Trend (Last 5 Days)
About the Company
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.
Company Financials (₹ Cr)
As of 2025-12-31
| 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 |
Key Ratios
EPS
₹-7.73
ROE
-95.18%
ROCE
-59.09%
RoNW
-47.29%
P/B Value
0.02
P/E Ratio
-19.66
Market Cap
₹4476.08 Cr
Debt/Equity
0.15
Promoters
Anand Rohidas Prabhudesai and Dhirendra Nalin Mahyavanshi
Objects of the Issue
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
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹460.11 Cr in the year ending 31 Mar 2023, increasing to ₹119.12 Cr by 31 Mar 2024. This figure rose further to ₹693.21 Cr by 31 Mar 2025, and reached ₹748.91 Cr by 31 Dec 2025. The trend shows a significant increase in total income over the periods.
Profit Trend
The profit after tax was -₹288.18 Cr in the year ending 31 Mar 2023, slightly improving to -₹193.35 Cr by 31 Mar 2024. By 31 Mar 2025, it was -₹194.11 Cr, and further improved to -₹187.39 Cr by 31 Dec 2025. Although these figures indicate a trend of reducing losses, they remain negative.
Grey Market Premium, Explained
The Grey Market Premium (GMP) is an unofficial indicator of the demand for an IPO before it lists on the stock exchange. A positive GMP suggests strong demand, while a negative GMP indicates weaker demand. GMP can fluctuate until the listing date based on market sentiment.
Subscription Demand
As of 23rd June 2026, the overall subscription level was 1.24 times the total shares offered. The institutional category (QIB) saw a subscription of 1.63 times, while the retail category (RII) was subscribed 1.11 times. However, the non-institutional categories (NII) were under-subscribed, with a subscription of only 0.55 times.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their investment goals and risk tolerance. Factors to consider include the company's growth potential and the overall market conditions.
Who May Want to Wait
Investors who prefer stable and established companies with consistent profitability may want to avoid this IPO, especially given its current negative profit margins and ongoing losses.
Listing Gains — The Risk
Investing in IPOs carries the risk of price fluctuations on the listing day. While some investors aim for quick gains, there's no guarantee of a profit. Market conditions and investor sentiment can significantly impact the stock price after listing.
This evaluation is generated from Turtlemint Fintech Solutions's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Turtlemint Fintech Solutions IPO GMP today?
Turtlemint Fintech Solutions IPO GMP today is ₹-5.0 (-3.29%), indicating an estimated listing price of ₹147. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Turtlemint Fintech Solutions IPO?
The price band of Turtlemint Fintech Solutions IPO is ₹144.0–₹152.0 per share.
When does Turtlemint Fintech Solutions IPO open and close?
Turtlemint Fintech Solutions IPO opens on 19 June 2026 and closes on 23 June 2026.
When does Turtlemint Fintech Solutions IPO list on the stock exchange?
Turtlemint Fintech Solutions IPO listed on 29 June 2026 at ₹147.0.
What is the lot size for Turtlemint Fintech Solutions IPO?
The lot size for Turtlemint Fintech Solutions IPO is 98 shares, requiring a minimum investment of ₹14,896.
What is the price band for the Turtlemint Fintech Solutions IPO?
The price band for the Turtlemint Fintech Solutions IPO is ₹144.0 to ₹152.0.
What is the minimum investment required for this IPO?
The minimum investment required for this IPO is ₹14,896, which corresponds to one lot of 98 shares at the issue price of ₹152.
When does the subscription period open and close?
The subscription period for the Turtlemint Fintech Solutions IPO opens on 19th June 2026 and closes on 23rd June 2026.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the demand for an IPO before it officially lists on the stock exchange.
When is the listing date for this IPO?
The listing date for the Turtlemint Fintech Solutions IPO is 29th June 2026.
Issue Details
Investor Allocation
Registrar
Anchor Investors
₹625.0 Cr
Total allocated
Anchor allocation date: 23 Jun 2026
Sequoia Capital India
Softbank Vision Fund
SBI Mutual Fund
HDFC Mutual Fund
Mirae Asset MF
GIC Re Singapore
+ 4 more anchor investors
⚠️ Lock-in: 50% of anchor shares unlock 30 days after listing. Watch for selling pressure around that date.
Lead Managers / Book Running
IPO Timeline
Open
19 Jun 2026
Close
23 Jun 2026
Allotment
24 Jun 2026
Listing
29 Jun 2026
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