Turtlemint Fintech Solutions Ltd

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