Turtlemint Fintech Solutions Limited
Bookbuilding IPO · NSE, BSE
- Price band
- ₹144 – ₹152
- Lot size
- 98 shares
- Issue amount
- ₹882.67 cr
- Total subscription
- 1.24×
- Opens
- 19 Jun 2026
- Closes
- 23 Jun 2026
- Allotment
- 24 Jun 2026
- Listing
- 29 Jun 2026
Offer at a glance
Issue overview
- Issue size
- 5,80,70,398 shares
- Face value
- ₹1 Per Share
- Minimum investment
- ₹14,112
- Fresh issue
- ₹660.72 cr
- Offer for sale
- ₹221.95 cr
- Registrar
- Kfin Technologies Limited
- Listing exchange
- NSE, BSE
- Maximum investment
- ₹14,896
- Issue type
- Bookbuilding IPO
- Shares before issue
- 25,10,10,354
- Shares after issue
- 29,44,78,906
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 1 | 98 | ₹14,896 |
| sHNI | 14 | 1,372 | ₹2,08,544 |
| bHNI | 68 | 6,664 | ₹10,12,928 |
Share reservation
Subscription & GMP
Subscription by category
Reported 23 Jun 2026
GMP history
Day-wise demand
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| RETAIL | 59,256 | 50,593 |
| HNIs(10L +) | 4,233 | 361 |
| HNIs (2-10L) | 2,116 | 1,045 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 264.8 | 430.65 |
| FIIs | 0 | 247.81 |
| FIs | 0 | 82 |
| Mutual Funds | 0 | 60 |
| Others | 0 | 40.84 |
| RETAIL | 88.27 | 98.11 |
| HNIs 2+ | 44.13 | 24.63 |
| HNIs 10+ | 88.27 | 47.74 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Dec-25 | Mar-25 | Mar-24 |
|---|---|---|---|
| EPS | -7.18 | -7.33 | -7.3 |
| ROE | 0 | 0 | 0 |
| ROCE | 0 | 0 | 0 |
| RONW | -63.38 | -47.29 | -34.29 |
| PRE IPO(PE) | 0 | -19.66 | 0 |
| POST IPO(PE) | 0 | 0 | 0 |
Values and labels as reported in the issue data.
Peer comparison
| Company | P/E(X) | CMP* (₹) | Face value (₹) | NAV/Share (₹) | RONW(%) | EPS (Basic) (₹) |
|---|---|---|---|---|---|---|
| PB Fintech Limited | 202.33 | 1547.80 | 2.00 | 140.06 | 5.74 | 7.77 |
| Turtlemint Fintech Solutions Limited | -19.66 | 152.00 | 1.00 | 7,768.02 | -47.29 | -7.33 |
Company information
Company profile
Founded in 2015, Turtlemint Fintech is a technology-enabled platform that connects insurance advisors, customers, and insurance companies to offer a variety of insurance products such as health, life, and motor insurance. The platform allows users to easily compare different insurance plans and choose the most suitable option based on their needs. In addition to insurance products, the platform also provides access to financial services like mutual funds and personal loans, helping customers manage multiple financial requirements through a single platform.
Strengths
- Strong Focus on Financial Inclusion: Primarily serves underserved and low-income customer segments, creating a strong niche in microfinance and retail banking.
- Diversified Lending Portfolio: Offers microfinance, commercial vehicle, affordable housing, and small business loans, reducing dependence on a single segment.
- Expanding Digital Banking Presence: Continuous investment in digital channels and branch expansion supports customer acquisition and operational efficiency.
Risk factors
- Asset Quality Risk: Any increase in loan defaults or non-performing assets (NPAs) can impact profitability and financial performance.
- Dependence on Microfinance Customers: Economic stress in lower-income customer segments may affect repayment capacity and loan growth.
- Highly Competitive Banking Sector: Faces competition from small finance banks, private banks, NBFCs, and fintech companies
Promoters
Anand Rohidas Prabhudesai
Dhirendra Nalin Mahyavanshi
Registrar & documents
Lead manager
ICICI Securities Limited, Jefferies India Private Limited, Jm Financial Limited, Motilal Oswal Investment Advisors Limited
Registrar & contacts
Kfin Technologies Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
The ORB – Sahar, 4B, 1st Floor, A Wing, Marol Vill Andheri (East), Mumbai, Maharashtra, 400099
1800 266 0101
[email protected]Company website ↗Understanding TURTLEMINT IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.