Turtlemint Fintech Solutions Ltd

Turtlemint Fintech Solutions Limited announced the designation of Mrs. Monica Anshul Mishra, Chief Human Resource Officer, as a Senior Management Personnel, effective September 9, 2026, according to a regulatory filing with the BSE Limited and National Stock Exchange of India Limited.

Turtlemint Fintech Solutions has modified its Employee Stock Option Plan (ESOP) scheme to align with recent regulatory updates, most notably SEBI circular no. SEBI/HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. Key changes include the removal of standardized form templates and revisions to nominee provisions, streamlining the option granting process for the Nomination and Remuneration Committee. The company has also eliminated a previous requirement for shareholder approval when granting options to employees of group companies and introduced a new clause mandating that tax obligations be satisfied before share allotment. The ESOP scheme currently allows for a maximum of 1,21,93,045 options, with a vesting period of at least four years from the date of listing.

Turtlemint Fintech Solutions is modifying its Employee Stock Option Plan (ESOP) scheme to align with recent Securities and Exchange Board of India (SEBI) regulations and streamline operations. Key changes include the removal of standard form templates and specific clauses related to share sales and group company employee grants, granting the Nomination and Remuneration Committee greater authority to issue options. The updated scheme, detailed in Annexure III, caps the total number of options at 1,21,93,045, mandates an exercise price at or above par value, and establishes a vesting period of at least four years from the date of listing. Shareholder approval will be required for grants exceeding 1% of equity share capital, and the modifications are expected to be presented to shareholders for ratification.

Turtlemint Fintech Solutions Ltd share price softened by 2.62% to Rs 137.3 after the company's net profit witnessed a sharp fall of 1303.18% to Rs 37.78 crore, while revenue from operations reduced 17.67% to Rs 294.08 crore in Q2FY26 over Q1FY26. The market capitalization of Financial Technology (Fintech) industry group stocks on BSE stood at Rs 1.86 lakh crore, easing 1.83%. It has inched up 2.52% over last one week and soared by 19.88% in last one month while the market capitalization of Turtlemint Fintech Solutions Ltd has remained flat Profit before tax (PBT) of Turtlemint Fintech Solutions Ltd stood at Rs 37.87 crore in Q2 FY26, plunging by 18.89% year-on-year, and rallying 633.91% quarter-on-quarter. EBITDA came in at Rs 35 crore, nosediving by 29.78% YoY and expanding by 382.12% sequentially. Total expenses eased by 9.33% to Rs 331.03 crore in Q2FY26 over Q2FY25. During the quarter, employee benefits expense was at Rs 65.44 crore, rising by 10.30% YoY. For the TTM ended FY26, revenue from operations surged 742.71% to Rs 662.71 crore, while net profit saw a mild growth of 0.39% to Rs 194.11 crore, compared to previous TTM. EBITDA saw a sharp decline of 24417% to Rs 218.86 crore, and PBT saw a marginal contraction of 2.06% to Rs 189.36 crore compared to previous TTM.

Turtlemint Fintech Solutions Ltd share price slipped 2.62% to Rs 137.3 after the company's net profit tumbled by 1303.18% to Rs 37.78 crore, while revenue from operations declined 17.67% to Rs 294.08 crore in Q2FY26 over Q1FY26. The market capitalization of Financial Technology (Fintech) industry group stocks on BSE stood at Rs 1.82 lakh crore, easing 1.81%. It has improved by 8.28% over last one week and rallied by 22.96% in last one month while the market capitalization of Turtlemint Fintech Solutions Ltd has remained flat Profit before tax (PBT) of Turtlemint Fintech Solutions Ltd stood at Rs 37.87 crore in Q2 FY26, declining 4.13% year-on-year, and expanding by 633.91% quarter-on-quarter. EBITDA came in at Rs 35 crore, tumbling by 18.45% YoY and jumping 382.12% sequentially. Total expenses marginally dropped 9.33% to Rs 331.03 crore in Q2FY26 over Q2FY25. During the quarter, employee benefits expense was at Rs 65.44 crore, improving by 10.30% YoY. For the TTM ended FY26, revenue from operations soared by 742.71% to Rs 662.71 crore, while net profit saw a mild growth of 0.39% to Rs 194.11 crore, compared to previous TTM. EBITDA saw a sharp decline of 24417% to Rs 218.86 crore, and PBT dipped slightly 2.06% to Rs 189.36 crore compared to previous TTM.

Turtlemint Fintech Solutions Limited will hold a board meeting on Friday, August 14, 2026, to consider and approve the unaudited financial results (standalone and consolidated) for the quarter ended June 30, 2026, according to a regulatory filing. The trading window for the company's securities has been closed since July 1, 2026, and will reopen 48 hours after the results are declared.

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Turtlemint Fintech Solutions will hold a meeting of the Board of Directors of the Company on 17 July 2026.

The stock debuted at Rs 136.20, marking a disount of 10.39% to the issue price. So far, the stock has hit a high of Rs 141.50 and a low of Rs 132.15. On the BSE, over 2.95 lakh shares of the company were traded in the counter so far. The initial public offer of Turtlemint Fintech Solutions received bids for 3,95,47,704 shares as against 3,29,01,878 shares on offer. The issue was subscribed 1.20 times. The issue opened for bidding on 19 June 2026 and it closed on 23 June 2026. The price band of the IPO was fixed between Rs 144 and 152 per share. The initial public offer (IPO) consist of fresh issue to raise Rs 660.72 crore through issuance of 4.59 crore equity shares at the lower band of Rs 144 per share (face value Rs 1 per share) and 4.35 crore equity shares at the upper band of Rs 152 per share. The IPO also comprised of offer for sales (OFS) of 1.46 crore equity shares to raise Rs 210.27-221.95 crore. The promoters, Anand Rohidas Prabhudesai is selling 0.21 crore equity shares and Dhirendra Nalin Mahyavanshi is selling 0.22 crore equity shares through OFS. The promoter shareholding in the company will decline to 13.21% post- IPO from 17.22% pre-IPO. Turtlemint proposes to utilize the net proceeds of IPO towards, expenditure towards cloud and server related infrastructure (Rs 25.643 crore), salary expenditure towards the technology and product development teams (Rs 193.036 crore), expenditure towards marketing initiatives (Rs 39.073 crore), expenditure towards lease payments for existing properties (Rs 43.076 crore), Investment in wholly owned Subsidiary, TIB, for funding its working capital requirements (Rs 128.642 crore) and funding inorganic growth through unidentified acquisitions and strategic initiatives and general corporate purposes. Ahead of the IPO, Turtlemint Fintech Solutions on Thursday, 18 June 2026, raised Rs 397.20 crore from anchor investors. The board allotted 2.61 crore shares at Rs 152 each to 32 anchor investors. Turtlemint Fintech Solutions incorporated in 2015 is a tech-enabled insurance distribution platform that connects customers, insurance advisors (digital partners) and insurers. Turtlemint operates the point-of-sale person (PoSP) distribution model with the largest certified PoSP network among the Peer Group as of December 2025. A proprietary technology platform comprises of six integrated components - Turtlemint Pro app, Turtlemint Academy, Ninja SalesPro app, Insurance Hub and Integration Studio, Turtlefin and Turtlemint Consumer app. Turtlemint Pro, a mobile and web-based application empowering digital partners to sell insurance products was launched in FY2018. The platform premium has jumped 33.63% from Rs 1,969.26 crore in 9MFY2025 to Rs 2,631.57 crore in 9MFY2026. The firm reported a consolidated net loss of Rs 187.39 crore and income from operations of Rs 741.07 crore for the nine months ended on 31 December 2025.Powered by Capital Market - Live