The initial public offering (IPO) of Turtlemint Fintech Solutions is all set to launch tomorrow, June 19. Ahead of its opening, market participants are closely watching the grey market premium (GMP) to gauge market sentiments and probable listing gains.
Here’s all you need to know about the mainboard issue of Turtlemint Fintech Solutions including the latest GMP, price band, offer size, subscription dates and more.
Turtlemint Fintech Solutions IPO GMP
The latest GMP of Turtlemint Fintech Solutions IPO was Rs 2 on June 19. Based on the upper price band of Rs 152 per share, the estimated listing price is around Rs 154 (GMP + upper cap). This suggests a potential listing gain of 1.32% per share for investors.
The GMP trend has shown a slight decline in the last few days. The unlisted shares of Turtlemint Fintech Solutions were trading at Rs 158, commanding a premium of around 4%.
Note: GMP does not represent official data and is based on speculation.
Turtlemint Fintech Solutions IPO: Price Band, Offer Size And More
Turtlemint Fintech Solutions IPO is a book-built issue worth Rs 882.67 crore, comprising a fresh issue of 4.35 crore shares valued at Rs 660.72 crore and an offer-for-sale (OFS) of 1.46 crore shares worth Rs 221.95 crore. The company has fixed the price band at Rs 144-Rs 152 per share.
Investors can apply for a minimum lot size of 98 shares. At the upper price band of Rs 152, the minimum investment required for retail investors is Rs 14,896.
ICICI Securities Ltd. is acting as the book-running lead manager for the issue, while Kfin Technologies Ltd. has been appointed as the registrar.
Turtlemint Fintech Solutions IPO: Important Dates
The IPO will remain open from June 19 to June 23. The share allotment is expected to be finalised on June 24, while the shares of Turtlemint Fintech Solutions are scheduled to list on the NSE and BSE on June 29.
About Turtlemint Fintech Solutions:
Founded in 2015, Turtlemint Fintech Solutions Ltd. is a technology-driven insurance distribution platform that connects customers, insurance advisors and insurers. The company partners with 45 insurers. Between April 2022 and December 2025, it facilitated the distribution of over 21.87 million insurance policies.
Turtlemint Fintech Solutions: Financials
Turtlemint Fintech Solutions reported consolidated total income of Rs 693.21 crore for the financial year ended March 31, 2025. This marked a sharp increase from Rs 119.12 crore in FY24. However, the company remained loss-making, posting a net loss (PAT) of Rs 194.11 crore compared with a loss of Rs 193.35 crore in the previous year. The company reported EBITA of Rs 82.43 crore in FY25.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
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