Turtlemint Fintech Solutions IPO opens 19 June: Price band, GMP, and key details

Turtlemint Fintech Solutions Limited opens its initial public offering for subscription on 19 June 2026, closing on 23 June 2026, with listing on BSE and NSE on 29 June 2026. 

About the issue 

The IPO totals ₹883 crore, combining a fresh issue of ₹660.72 crore and an offer for sale of ₹221.95 crore. Minimum retail investment at the upper price band is ₹14,896. Small NII applicants require ₹2,08,544 (14 lots) and big NII applicants ₹10,12,928 (68 lots). ICICI Securities Ltd. is the book running lead manager and KFin Technologies Ltd. is the registrar. 

About the company 

Incorporated in 2015, Turtlemint Fintech Solutions Limited operates a technology-enabled insurance distribution platform connecting customers, Digital Partners, and insurers through a phygital model. The platform supports life, health, motor, and other insurance products across 45 insurer partnerships. Between April 2022 and December 2025, it facilitated over 21.87 million policies, generating platform premium of over ₹10,066 crore across nearly 98% of India’s pin codes. The company employs 2,348 permanent staff as of December 2025. 

Business model and key strengths 

The company operates an asset-light, commission-based model through its proprietary advisor app, Turtlemint Pro. Its network of 6.32 lakh Digital Partners, including 5.07 lakh certified PoSPs, drives distribution at scale. Over 80% of partners operate in B30+ markets, targeting underinsured tier-2 and tier-3 populations. According to the Redseer Report, as cited in the company’s RHP, Turtlemint accounted for approximately 15.97% of India’s 2.7 million PoSPs in fiscal 2025. 

Objects of the issue 

Fresh issue proceeds will fund business growth and operational expansion as detailed in the RHP. OFS proceeds go directly to the selling shareholders, which include promoters Anand Rohidas Prabhudesai and Dhirendra Nalin Mahyavansh, along with institutional investors including Blume Ventures, Nexus Ventures, Peak XV Partners, Jungle Ventures, and GGV Investments. 

Grey market premium 

As of 16 June 2026, 10:28 AM, the grey market premium stands at ₹9 per share, according to Chittorgarh, implying an estimated listing price of ₹161 and an indicative gain of 5.92% over the upper price band. GMP has been active for two sessions only. Grey market activity is unregulated and does not guarantee listing performance. 

Stay updated on Indian equity and commodity markets. Read more market news on PL Capital. 

Disclaimer: Investments in securities market are subject to market risks, read all the related documents carefully before investing.

This is a knowledge-sharing initiative by PL Capital. The information provided is only for educational purposes and should not be considered as financial advice & has no influence on the investment/trading decisions of any investors.

For detailed disclaimers/disclosure and Mandatory terms and conditions please visit our website https://www.plindia.com/regulatory-content/