Turtlemint Fintech IPO
Market Sentiment
IPO Details
IPO Reservation
Financial Analysis
| Metric | 2023 | 2024 | 2025 | Sep 2025 |
|---|---|---|---|---|
| Revenue | 460.11 | 119.12 | 693.21 | 469.37 |
| Expense | 748.30 | 312.47 | 882.57 | 560.53 |
| Profit (PAT) | 288.18 | 193.35 | 194.11 | 125.15 |
| Total Assets | 900.37 | 612.55 | 578.69 | 472.67 |
Promoters: Anand Rohidas Prabhudesai and Dhirendra Nalin Mahyavanshi
Strengths & Risks
- Revenue grew 482% in the latest reported year.
- Solid profit margin — 28.0%.
- Modest return on equity — -47%.
Auto-generated from live GMP, subscription, valuation and financial data. Informational only — not investment advice. Always read the RHP before applying.
Company Information
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.
| 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
Turtlemint Fintech Solutions Ltd., The ORB – Sahar, 4B,, 1st Floor, A Wing, Marol Vill, Andheri (East),, Mumbai, Maharashtra, 400099
Turtlemint Fintech is preparing a mainboard offering. The Mainboard issue is scheduled to open for subscription on June 19, 2026 — 7 days from now.
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.
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.
All figures below — GMP history, subscription tiers, financials and peers — are aggregated from public disclosures. Always apply through your own broker after reading the RHP.
Understanding Grey Market Premium (GMP)
The Grey Market Premium (GMP) is an unofficial indicator of how an IPO's shares are trading in the grey market before they are officially listed on a stock exchange. It reflects investor sentiment and demand for the IPO shares ahead of listing day.
How does it work? The grey market is an informal, over-the-counter market where investors buy and sell IPO shares before the official listing date. If an IPO has a positive GMP, it suggests that investors expect the stock to list above its issue price. A negative GMP indicates expectations of a listing below the issue price.
Example: If an IPO has an issue price of ₹100 and the GMP is ₹50, the expected listing price would be approximately ₹150 (issue price + GMP). This translates to an estimated listing gain of 50%.
Factors that influence GMP:
- Subscription levels — Higher subscription typically drives GMP up
- Market conditions — Bullish markets tend to boost GMP across all IPOs
- Company fundamentals — Strong financials and growth potential attract premium
- Industry sentiment — Positive outlook for the sector can increase demand
- IPO pricing — Reasonably priced IPOs relative to peers tend to command higher GMP
Disclaimer: GMP is an unofficial metric from the grey market and is not regulated by SEBI or any stock exchange. GMP values fluctuate frequently and should not be the sole basis for investment decisions. Always consider company fundamentals, financial health, and your own risk appetite before investing in any IPO.
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