Turtlemint Fintech IPO
Market Sentiment
IPO Details
Day-wise Subscription (times subscribed)
| Category | Day 1 | Day 2 | Day 3 | Day 4 | Day 5 |
|---|---|---|---|---|---|
| QIB | 0.73x | 0.73x | 0.73x | 0.73x | 1.63x |
| NII | 0.01x | 0.01x | 0.01x | 0.05x | 0.55x |
| bNII > ₹10L | 0.00x | 0.00x | 0.00x | 0.03x | 0.52x |
| sNII 2-10L | 0.03x | 0.03x | 0.03x | 0.09x | 0.53x |
| Retail | 0.29x | 0.29x | 0.29x | 0.61x | 1.11x |
| Total | 0.45x | 0.45x | 0.45x | 0.52x | 1.24x |
Market Lot Size
IPO Reservation
Financial Analysis
Financial Data
Financial Performance
| Metric | 2023 | 2024 | 2025 | Dec 2025 |
|---|---|---|---|---|
| Revenue | 460.11 | 119.12 | 693.21 | 748.91 |
| Expense | 748.30 | 312.47 | 882.57 | 881.37 |
| Profit (PAT) | 288.18 | 193.35 | 194.11 | 187.39 |
| Total Assets | 900.37 | 612.55 | 578.69 | 467.14 |
Peer Comparison
| Company | EPS | P/E | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| Turtlemint Fintech This IPO | -7.33 | - | -47.29 | 7,768.02 | - |
| PB Fintech Limited | 7.77 | 218.81 | 5.74 | 140.06 | 4,977.21 Cr |
Promoters & Holding Pattern
Promoters: Anand Rohidas Prabhudesai and Dhirendra Nalin Mahyavanshi
| Shareholding | No. of Shares | Holding % |
|---|---|---|
| Promoter Holding Pre Issue | 25,10,10,354 | 17.05% |
| Promoter Holding Post Issue | – | 13.10% |
Strengths & Risks
- Revenue grew 482% in the latest reported year.
- Solid profit margin — 28.0%.
- Mostly fresh capital — proceeds fund the company's growth, not an exit.
- Modest return on equity — -47%.
- Promoter stake drops to 13% after the issue.
Compiled from this issue's live GMP, subscription, valuation and financial data, and updated as those figures change. Informational only — not investment advice. Always read the RHP before applying.
Company Information
About Turtlemint Fintech
Founded in 2015, Turtlemint Fintech is one of the leading insurtech (insurance + technology) companies that offers insurance and financial products. It provides various products such as health insurance, life insurance, car insurance, bike insurance, term insurance, investment tax planning, and many more. Along with insurance, they also offer Mutual Funds, such as Equity funds, debt funds, liquid funds, balanced funds, and Loans. Their mission is to ensure financial security for every Indian through accessible insurance and investment solutions. Moreover, through the turtlemint platform, users can check the different types of insurance and financial plans to pick the best one.
Company Contact Information
Turtlemint Fintech Solutions Ltd., The ORB – Sahar, 4B,, 1st Floor, A Wing, Marol Vill, Andheri (East),, Mumbai, Maharashtra, 400099
Objects of the Issue
| Purpose | Amount (Cr) |
|---|---|
| Expenditure towards cloud and server related infrastructure of the Company; | - |
| Salary expenditure towards the technology and product development teams of the Company; | - |
| Expenditure towards marketing initiatives by the Company; | - |
| Expenditure towards lease payments for existing properties of the Company and the wholly owned Subsidiary, TIB; | - |
| Investment in the wholly owned Subsidiary, TIB, for funding its working capital requirements; and | - |
| Funding inorganic growth through unidentified acquisitions and strategic initiatives and general corporate purposes. | - |
Resources & Documents
Anchor Investors
Turtlemint Fintech IPO - Quick Take
Turtlemint Fintech has set a price band of Rs 144–Rs 152 per share for an issue size of Rs 883 crore. The stock listed with a 11.25% discount versus its issue price on June 29, 2026.
The issue is promoted by Anand Rohidas Prabhudesai and Dhirendra Nalin Mahyavanshi with ICICI Securities Limited, Jefferies India Private Limited, JM Financial Limited, Motilal Oswal Investment Advisors Limited acting as lead manager. Net proceeds will primarily be used towards expenditure towards cloud and server related infrastructure of the Company; and salary expenditure towards the technology and product development teams of the Company;.
On fundamentals, the company is posting revenue growth of 481.9%, a profit margin of 28.0%, return on equity of -47.3% in its most recent reported period. Listed peers in this segment include PB Fintech Limited (P/E 218.81x) — useful reference points when evaluating the issue's pricing relative to where the broader sector is trading.
On our data-signal score, the combined signals for this issue currently read weak — several key indicators are reading below average. This is a summary of public data, not a recommendation to apply or skip. Past performance does not predict future returns — review the price chart and peer comparison below before trading.
Frequently Asked Questions
Turtlemint Fintech IPO GMP — What It Means
GMP stops mattering once the shares trade — it only ever estimated the listing price. The summary at the top of this page compares the last pre-listing GMP with how the shares actually listed.
See the full Turtlemint Fintech GMP history and trend, or learn how grey market premium works and how reliable it is.
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