Turtlemint Fintech IPO: Dates, Price Band, ₹871 Cr Issue Size

Turtlemint Fintech IPO Opens June 19: Key Details

Turtlemint Fintech Solutions Limited’s Initial Public Offering (IPO) is set to open from June 19, 2026, to June 23, 2026. The company aims to raise between ₹871 crore and ₹883 crore, with anchor investor bidding scheduled for June 18.

Price Band and Issue Structure

The IPO’s price band has been fixed between ₹144 and ₹152 per equity share, with a face value of Re 1. The offering includes a fresh issue of equity shares worth up to ₹660.72 crore.

Additionally, an Offer For Sale (OFS) of up to 1,46,01,846 equity shares will be made by existing shareholders, including promoters Anand Rohidas Prabhudesai and Dhirendra Nalin Mahyavansh, along with several investors.

• Estimated Market Capitalization: ₹4,310 crore to ₹4,513 crore.
• Minimum Retail Bid: 98 equity shares, requiring an investment of at least ₹14,896 at the upper price band.
• Listing Date: Tentatively June 29, 2026, on both BSE and NSE.

Allocation and Use of Funds

The IPO reservations allocate 15% to non-institutional investors, 10% to retail investors, and 75% to Qualified Institutional Buyers.

Proceeds from the fresh issue are earmarked for enhancing technology infrastructure, covering cloud and server expenses, and funding product development. Funds will also support marketing, brand building, lease payments, and working capital for its subsidiary TIB, alongside pursuing inorganic growth and general corporate purposes.

About Turtlemint Fintech

Turtlemint operates as a technology-driven insurance distribution platform, connecting customers, advisors, and insurance companies. The company offers a diverse range of insurance products and has expanded into other financial services like mutual funds and personal loans.

According to the Redseer Report, Turtlemint has shown significant growth in gross direct premium income (GDPI), outpacing the broader retail insurance market.