Turtlemint IPO: June 19 Launch, ₹144-₹152 Price Band

Turtlemint IPO Kicks Off June 19, Aims for ₹882.66 Crore

Insurtech unicorn Turtlemint Fintech Solutions is set to launch its Initial Public Offering (IPO) on June 19, 2026, closing on June 23, 2026. The company aims to raise a total of ₹882.66 crore through this offering.

This IPO comprises a fresh issuance of shares valued at ₹660.72 crore and an Offer for Sale (OFS) amounting to ₹221.94 crore. The price band for the shares has been fixed between ₹144 and ₹152 per share.

Key Details & Investor Participation

• IPO Size: ₹882.66 crore
• Fresh Issue: ₹660.72 crore
• Offer for Sale (OFS): ₹221.94 crore
• Price Band: ₹144 to ₹152 per share
• Lot Size: 98 shares (and multiples thereof)

Promoters Anand Rohidas Prabhudesai and Dhirendra Nalin Mahyavansh, alongside investors like Kunal Shah, Blume Ventures, Nexus Ventures, Peak XV Partners, Jungle Ventures, GGV VII Investments, and Catalyst Trusteeship Limited, will be selling their stakes in the OFS.

The capital from the fresh issue is earmarked for cloud and server infrastructure, salaries for product development and technology teams, marketing initiatives, lease payments, investment in its subsidiary TIB for working capital, funding inorganic growth through acquisitions, and general corporate needs.

IPO Timeline & Allocation

The IPO allocation is structured with 75% for qualified institutional buyers (QIBs), 15% for non-institutional investors (NIIs), and 10% for retail investors.

• Subscription Period: June 19 – June 23
• Basis of Allotment: June 24
• Initiation of Refunds: June 25
• Credit of Shares to Demat: June 25
• Listing Date: June 29

Turtlemint operates as a technology-enabled insurance distribution platform, connecting customers, insurance advisors, and insurers. The platform offers a variety of insurance products, including life, health, and motor, and has shown significant growth in the retail insurance market, according to the Redseer Report.