Turtlemint Fintech Solutions IPO Subscribed 0.46 Times on Day 1
Varda Khade
- 1 min read
Last Updated: 19th June 2026 - 06:19 pm
Turtlemint Fintech Solutions Limited's initial public offering (IPO) opened for subscription on June 19, 2026, recording an overall subscription of 0.46 times by 4:39 PM on Day 1. The ₹882.67 crore book-build issue, priced at ₹144 to ₹152 per share, received bids for 1,47,98,784 shares against 3,19,38,719 shares on offer, with total applications reaching 13,784.
Subscription Status of Turtlemint Fintech Solutions IPO
| Date | QIB (Ex-Anchor) | NII | Retail | Total |
| Day 1 (June 19) | 0.75 | 0.01 | 0.30 | 0.46 |
Here are the subscription details for Turtlemint Fintech Solutions (Day 1, as of 4:39 PM)
| Investor Category | Subscription (times) | Shares Offered | Shares Bid For | Total Amount (₹ Cr.) |
| Anchor Investors | 1.00 | 2,61,31,680 | 2,61,31,680 | 397.20 |
| QIB (Ex-Anchor) | 0.75 | 1,74,21,119 | 1,29,81,178 | 197.31 |
| NII | 0.01 | 87,10,560 | 1,02,704 | 1.56 |
| bNII (>₹10L) | 0.00 | 58,07,040 | 19,600 | 0.30 |
| sNII (<₹10L) | 0.03 | 29,03,520 | 83,104 | 1.26 |
| Retail | 0.30 | 58,07,040 | 17,14,902 | 26.07 |
| Total | 0.46 | 3,19,38,719 | 1,47,98,784 | 224.94 |
Key Highlights – Day 1
- Overall subscription reached 0.46 times on Day 1 (June 19, 2026), reflecting cautious initial investor interest in this technology-enabled insurance distribution platform IPO.
- Qualified institutional buyers (ex-anchor) showed the strongest opening participation at 0.75 times on Day 1, indicating moderate institutional interest in this loss-making insurtech company.
- Retail investors recorded 0.30 times on Day 1.
- Non-institutional investors showed negligible participation at 0.01 times, with sNII at 0.03 times and bNII at effectively nil on Day 1.
- Total applications stood at 13,784 on Day 1.
- Anchor investors fully subscribed their allocation of ₹397.20 crores on June 18, 2026.
About Turtlemint Fintech Solutions Limited
Incorporated in 2015, Turtlemint Fintech Solutions Limited is a technology-enabled insurance distribution platform connecting customers, insurance advisors, and insurers through a phygital model. The company operates India's largest certified Point-of-Sale Person network among its peer group, with over 6.32 lakh Digital Partners including more than 5.07 lakh certified PoSPs, and has partnerships with 45 insurer partners offering life, health, motor, and other insurance products. The platform has facilitated distribution of over 21.87 million insurance policies between April 2022 and December 2025, covering nearly 98% of India's pin codes. As of December 31, 2025, the company employed 2,348 permanent employees.
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