Turtlemint Fintech Solutions IPO
Turtlemint Fintech Solutions IPO Details
-
Open Date
19 Jun 2026
-
Close Date
23 Jun 2026
- IPO Price Range
₹ 144 to ₹152
- IPO Size
₹ 882.67 Cr
Turtlemint Fintech Solutions IPO Timeline
Turtlemint Fintech Solutions IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 19-June-2026 | 0.75 | 0.01 | 0.30 | 0.46 |
Last Updated: 19 June 2026 5:16 PM by 5paisa
Turtlemint Fintech Solutions Limited, operates a technology-led insurance distribution platform in India. Promoted by Anand Rohidas Prabhudesai and Dhirendra Nalin Mahyavanshi, it connects customers, advisors and insurers through proprietary digital platforms. The company pioneered the PoSP model, building a large certified network, and distributes insurance, mutual funds and credit products under an asset-light, commission-based model.
Established in: 2015
Managing Director: Dhirendra Nalin Mahyavanshi
Peers:
| Metric |
Turtlemint Fintech Solutions Limited |
PB Fintech Limited |
|---|---|---|
| Total Income | 662.71 | 4977.21 |
| Face Value | 1 | 2 |
| EPS (Basic) | -7.33 | 7.77 |
| EPS (Diluted) | -7.33 | 7.65 |
| RONW % | -47.29 | 5.74 |
| NAV | 776.80 | 14.01 |
| P/E | - | 20.23 |
Turtlemint Fintech Solutions Objectives
1. The Company will expand cloud and server infrastructure capabilities (₹25.64 crore).
2. Strengthen technology and product development through salary expenditure (₹193.04 crore).
3. Support business growth through targeted marketing initiatives (₹39.07 crore).
4. Fund lease payments for the Company's existing properties (₹22.21 crore).
5. Cover lease payments for TIB's existing properties (₹20.87 crore).
6. Invest in TIB to meet working capital requirements (₹128.64 crore).
7. Pursue acquisitions, strategic initiatives and corporate purposes (amount not specified).
Turtlemint Fintech Solutions IPO Size
| Types | Size |
|---|---|
| Total IPO Size |
₹882.67 Cr |
| Offer For Sale | ₹221.95 Cr |
| Fresh Issue |
₹660.72 Cr |
Turtlemint Fintech Solutions IPO Lot Size
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 98 | 14,112 |
| Retail (Max) | 13 | 1,274 | 1,93,648 |
| S-HNI (Min) | 14 | 1,372 | 1,97,568 |
| S-HNI (Max) | 67 | 6,566 | 9,98,032 |
| B-HNI (Min) | 68 | 6,664 | 9,59,616 |
Turtlemint Fintech Solutions IPO Reservation
| Investors Category | Subscription (times) | Shares Offered* | Shares bid for | Total Amount (Cr.)* |
|---|---|---|---|---|
| QIB (Ex Anchor) | 0.75 | 1,74,21,119 | 1,29,81,178 | 197.314 |
| Non-Institutional Buyers | 0.01 | 87,10,560 | 1,02,704 | 1.561 |
| BNII | 0.00 | 58,07,040 | 19,600 | 0.298 |
| SNII | 0.03 | 29,03,520 | 83,104 | 1.263 |
| Individual Investors (IND category bidding for 2 Lots) | 0.30 | 18,03,600 | 17,47,046 | 26.555 |
| Total** | 0.46 | 36,07,800 | 1,48,30,928 | 225.430 |
*The "Shares Offered" and "Total Amount" are calculated using the upper limit of the issue price range.
**Shares allocated to anchor investors (or market makers) are excluded from the total number of shares offered.
Turtlemint Fintech Solutions IPO Anchor Allocation
| Anchor Bid Date | TBA |
| Shares Offered | TBA |
| Anchor portion Size (In ₹ Cr.) | TBA |
| Anchor lock-in period end date for 50% shares (30 Days) | TBA |
| Anchor lock-in period end date for remaining shares (90 Days) | TBA |
| Particulars (In ₹ Crores) | FY23 | FY24 | FY25 |
| Revenue | 419.9 | 78.64 | 662.71 |
| EBITDA | -119.00 | 144.00 | 333.00 |
| PAT | -487.94 | 64.41 | 353.16 |
| Particulars (In ₹ Crores) | FY23 | FY24 | FY25 |
| Total Assets | 900.37 | 612.55 | 578.69 |
| Share Capital | 0.01 | 0.01 | 0.01 |
| Total Liabilities | 156.92 | 48.75 | 168.23 |
| Cash Flows (₹ Crores) | FY23 | FY24 | FY25 |
| Net Cash Generated From / (used in) Operating Activities | -285.92 | -241.67 | -215.81 |
| Net Cash Generated From / (used in) Investing Activities | -579.32 | 247.79 | 235.23 |
| Net Cash Generated From / (used in) Financing Activities | 902.68 | -9.65 | -14.74 |
| Net Increase (Decrease) in Cash and Cash Equivalents | 37.45 | -3.53 | 4.68 |
Strength
1. Technology-led scalable digital insurance distribution platform
2. Large certified PoSP advisor network nationwide
3. Strong partnerships with multiple insurers and partners
4. Asset-light model with commission-based revenues
Weaknesses
1. Dependence on PoSP productivity and engagement levels
2. Exposure to regulatory and compliance changes
3. Limited control over insurer commission structures
4. High competition impacting pricing and margins
Opportunities
1. Rising insurance penetration across Indian retail markets
2. Growing adoption of digital insurance distribution platforms
3. Expansion into adjacent financial products distribution
4. Data analytics enhancing customer targeting and efficiency
Threats
1. Evolving IRDAI regulations increasing compliance costs
2. Insurers strengthening direct-to-consumer digital channels
3. Intense competition from incumbents and tech-led players
4. POSP retention challenges affecting business continuity
1. Operates in fast-growing digital insurance market
2. Scalable asset-light business model with technology focus
3. Extensive PoSP network driving nationwide reach
4. Diversified product offerings across insurance segments
Turtlemint Fintech Solutions operates within India’s rapidly expanding digital insurance distribution industry, supported by rising insurance awareness, increasing internet penetration and favourable demographics. Regulatory push towards transparency and digital adoption is reshaping the sector. The company’s technology-led, asset-light model and extensive PoSP network position it well to capture growth from underpenetrated insurance segments and expanding demand for integrated financial protection solutions.
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FAQs
Turtlemint Fintech Solutions IPO opens from June 19, 2026, to June 23, 2026.
The size of the Turtlemint Fintech Solutions IPO is ₹882.67 Cr.
The price band of Turtlemint Fintech Solutions IPO is ₹144 to ₹152.
To apply for Turtlemint Fintech Solutions IPO, follow the steps given below:
● Login to your 5paisa demat account and select the issue in the current IPO section
● Enter the number of lots and the price at which you wish to apply for theTurtlemint Fintech Solutionss. IPO.
● Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.
You will receive a mandate notification to block funds in your UPI app.
The minimum lot size of Turtlemint Fintech Solutions IPO is 98 shares and minimum investment is ₹ 14,112.
The share allotment date of Turtlemint Fintech Solutions IPO is June 24, 2026
The Turtlemint Fintech Solutions IPO will likely be listed on June 29, 2026.
ICICI Securities Ltd is the book running lead managers for Turtlemint Fintech Solutionss IPO.
Turtlemint Fintech Solutionss IPO plans to utilise the raised capital from the IPO for:
1. The Company will expand cloud and server infrastructure capabilities (₹25.64 crore).
2. Strengthen technology and product development through salary expenditure (₹193.04 crore).
3. Support business growth through targeted marketing initiatives (₹39.07 crore).
4. Fund lease payments for the Company's existing properties (₹22.21 crore).
5. Cover lease payments for TIB's existing properties (₹20.87 crore).
6. Invest in TIB to meet working capital requirements (₹128.64 crore).
7. Pursue acquisitions, strategic initiatives and corporate purposes (amount not specified).