IPO Details
| IPO Date | 19 to 23 Jun, 2026 |
| Listing Date | Mon, Jun 29, 2026 |
| Face Value | ₹ 1 per share |
| Price Band | ₹144 to ₹152 |
| Issue Price | ₹152 per share |
| Lot Size | 98 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 5,80,70,398 shares (agg. up to ₹ 883 Cr) |
| Fresh Issue | 4,34,68,552 shares (agg. up to ₹ 661 Cr) |
| Offer for Sale | 1,46,01,846 shares of ₹ 1 (agg. up to ₹ 222 Cr) |
| Share Holding Pre Issue | 25,10,10,354 shares |
| Share Holding Post Issue | 29,44,78,906 shares |
| BSE Script Code / NSE Symbol | 544799 / TURTLEMINT |
| ISIN | INE0OC301013 |
IPO Subscription Details
| Anchor | 1 |
| QIB (Ex Anchor) | 1.63 |
| NII | 0.55 |
| bNII (> ₹10L) | 0.54 |
| sNII (< ₹10L) | 0.56 |
| Retail | 1.11 |
| Total ** | 1.24 |
IPO Important Dates
| IPO Open | Fri, Jun 19, 2026 |
| IPO Close | Tue, Jun 23, 2026 |
| Allotment | Wed, Jun 24, 2026 |
| Refund | Thu, Jun 25, 2026 |
| Credit of Shares | Thu, Jun 25, 2026 |
| Listing | Mon, Jun 29, 2026 |
IPO Lot Size
| Retail (Min) | 1 | 98 | ₹14,896 |
| Retail (Max) | 13 | 1,274 | ₹1,93,648 |
| S-HNI (Min) | 14 | 1,372 | ₹2,08,544 |
| S-HNI (Max) | 67 | 6,566 | ₹9,98,032 |
| B-HNI (Min) | 68 | 6,664 | ₹10,12,928 |
Financial Information
| Assets | 467.14 | 578.69 | 612.55 | 900.37 |
| Total Income | 748.91 | 693.21 | 119.12 | 460.11 |
| Profit After Tax | -187.39 | -194.11 | -193.35 | -288.18 |
| EBITDA | 81.58 | 82.43 | | |
| NET Worth | 295.68 | 410.46 | 563.80 | 743.45 |
| Reserves and Surplus | 288.77 | 408.88 | 562.22 | 741.87 |
| Total Borrowing | | 0.00 | 0.00 | 0.00 |
Key Performance Indicator
| ROE | |
| ROCE | |
| Debt/Equity | |
| RoNW | -63.38% |
| EBITDA Margin | 11.01% |
| Price to Book Value | 2.77 |
Information about company
Incorporated in 2015, Turtlemint Limited is a technology-enabled insurance distribution platform that connects customers, insurance advisors (Digital Partners), and insurers through a phygital (physical + digital) model. The company was among the first to adopt the Point-of-Sale Person (PoSP) distribution model and has built India's largest certified PoSP network among its peer group.
Turtlemint offers a comprehensive platform that enables Digital Partners to compare, recommend, and distribute insurance products from multiple insurers while managing customer acquisition, policy servicing, claims support, training, and lead management. The platform provides access to life, health, motor, and other insurance products through partnerships with 45 insurer partners.
The company has facilitated the distribution of over 21.87 million insurance policies between April 2022 and December 2025, generating platform premium of over ₹10,066 crore across 19,171 pin codes, covering nearly 98% of India's pin codes. Turtlemint has a network of 6.32 lakh+ Digital Partners, including over 5.07 lakh certified PoSPs, supported by its proprietary advisor app, Turtlemint Pro.
Turtlemint has a strong presence in India's B30+ markets (cities beyond the top 30 by population), where over 80% of its Digital Partners are based. The company leverages AI-driven technology, mobile-first tools, and a large physical advisory network to improve insurance accessibility, customer experience, and insurance penetration across India.
As of December 31, 2025, the company employed 2,348 permanent employees across sales, technology, product development, and corporate functions.
Strengths
Objectives of IPO
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
#: Issue Objects
1: Expenditure towards cloud and server related infrastructure of the Company
2: Salary expenditure towards the technology and product development teams of the Company
3: Expenditure towards marketing initiatives by the Company
4: Expenditure towards lease payments for existing properties of the Company and wholly owned Subsidiary, TIB, breakup of which is as follows: Expense by the Company
5: Expenditure towards lease payments for existing properties of thr Company and wholly owned Subsidiary, TIB, breakup of which is as follows: Expense by wholly owned Subsidiary, TIB
6: Investment in wholly owned Subsidiary, TIB, for funding its working capital requirements
7: Funding inorganic growth through unidentified acquisitions and strategic initiatives and general corporate purposes
: Total
Disclaimer
All matter published here is purely for educational and information purposes only and under no circumstances should be used for making investment decisions.
We are not a SEBI Registered analyst. Readers must consult a qualified financial advisor prior to making any actual investment decisions, based on Information published on this application.
No financial information whatsoever published anywhere, within this application, should be considered as advice to buy or sell securities or invest in IPOs, or as a guide to doing so in any way whatsoever
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Day Wise Sub
| Jun 1
9 (Day 1) | 0.75 | 0.01 | 0.00 | 0.03 | 0.30 | 0.46 |
| Jun 2
2 (Day 2) | 0.75 | 0.05 | 0.03 | 0.09 | 0.64 | 0.54 |
| Jun 2
3 (Day 3) | 1.63 | 0.55 | 0.54 | 0.56 | 1.11 | 1.24 |
Day Wise GMP
| 29-06-2026 | 152.00 | -5(-3.29%) | 147 |
| 28-06-2026 | 152.00 | -5(-3.29%) | 147 |
| 27-06-2026 | 152.00 | -5(-3.29%) | 147 |
| 26-06-2026 | 152.00 | -3(-1.97%) | 149 |
| 25-06-2026 | 152.00 | 0(0.00%) | 152 |
| 24-06-2026 | 152.00 | 0(0.00%) | 152 |
| 23-06-2026 | 152.00 | 0(0.00%) | 152 |
| 22-06-2026 | 152.00 | 2(1.32%) | 154 |
| 21-06-2026 | 152.00 | 2(1.32%) | 154 |
| 20-06-2026 | 152.00 | 2.5(1.64%) | 154.5 |
| 19-06-2026 | 152.00 | 3(1.97%) | 155 |
| 18-06-2026 | 152.00 | 2.25(1.48%) | 154.25 |
| 17-06-2026 | 152.00 | 2(1.32%) | 154 |
| 16-06-2026 | 152.00 | 6(3.95%) | 158 |
| 15-06-2026 | | 0(%) | (%) |
IPO Reservation
| QIB Shares Offered | 4,35,52,800 |
| − Anchor Investor Shares Offered | 2,61,31,680 |
| − QIB (Ex. Anchor) Shares Offered | 1,74,21,120 |
| NII (HNI) Shares Offered | 87,10,559 |
| − bNII > ₹10L | 58,07,040 |
| − sNII < ₹10L | 29,03,519 |
| Retail Shares Offered | 58,07,039 |
| Total Shares Offered | 5,80,70,398 |
