Turtlemint Fintech Solutions made a weak stock market debut on Monday, June 29, 2026, with its shares listing at a discount to the IPO price on both the NSE and BSE. The stock opened at ₹134.90 on the NSE, an 11.25% discount to the issue price of ₹152, while it debuted at ₹136.20 on the BSE, down 10.39% from the IPO price.

The ₹882.67 crore IPO was open for subscription between June 19 and June 23, 2026, and received an overall subscription of 1.20 times. The public issue comprised a fresh issue of ₹660.72 crore and an offer for sale worth ₹221.95 crore.

Turtlemint Fintech Solutions IPO - Issue Details

Issue Type: Book Building IPO (Fresh Issue + OFS)
Total Issue Size: Agg. up to ₹882.67 crore
Fresh Issue: Agg. up to ₹660.72 crore
Offer for sale (OFS): Agg. up to ₹221.95 crore
Face Value: ₹1 per equity share
Price Band: ₹144 to ₹152 per share
Lot Size: 98 shares
Listing: NSE, BSE
Minimum Investment Amount: ₹14,896 per lot (based on upper band)
Book Building Lead Managers: ICICI Securities Limited, Jefferies India Private Limited, JM Financial Limited and Motilal Oswal Investment Advisors Limited
Registrar: KFin Technologies Limited

Turtlemint Fintech Solutions IPO Overall Subscription Status

[23 June 2026, 7:00 PM]

Category	Subscription (x)
Qualified Institutional Buyers (QIBs)	1.59x
Non-Institutional Investors (NIIs)	0.52x
Retail Individual Investors (RIIs)	1.07x
Total	1.20x

Utilisation of IPO Proceeds

The company intends to utilise the net proceeds from the fresh issue towards:

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 wholly owned Subsidiary, TIB.
Investment in wholly owned Subsidiary, TIB, for funding its working capital requirements.
Funding inorganic growth through unidentified acquisitions and strategic initiatives.
General corporate purposes.

Check out newly listed IPOs on BSE and NSE.

About Turtlemint Fintech Solutions Limited

Established in 2015, Turtlemint Fintech Solutions Limited is a technology-led insurtech platform that connects insurance providers, advisors, and customers through its digital distribution network. By December 2025, the organisation had built a network of more than 6.3 lakh certified digital partners and established collaborations with 45 insurance firms, covering over 19,000 pin codes.

The company follows a phygital model, combining digital tools with on-ground advisory support to help partners compare products, generate quotes, manage customer relationships, and assist with claims. Its operations are particularly focused on non-metro and B30+ markets.

Financially, revenue from operations increased to ₹662.71 crore in FY25 from ₹78.64 crore in FY24, while total income rose to ₹693.21 crore from ₹119.12 crore. Despite strong growth, the company reported a net loss of ₹194.11 crore in FY25, compared with a loss of ₹193.35 crore in FY24.

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