Turtlemint Fintech Solutions Limited IPO

Founded in 2015, Turtlemint Fintech Solutions Limited operates a technology-enabled platform offering a wide range of insurance products including health insurance, life insurance and motor insurance. The platform enables customers to compare insurance plans from multiple insurers and purchase suitable policies digitally.

In addition to insurance distribution, the company also provides access to financial products such as mutual funds and personal loans. Turtlemint leverages technology to empower insurance advisors with digital tools, lead management solutions, training resources and policy servicing capabilities. The company has built a strong presence in India's rapidly growing insurtech sector and serves customers through a large network of advisors and digital channels.

The IPO is a book-built issue aggregating up to Rs 221.95 crore with a price band of Rs 144-152 per share. The issue opens on June 19, 2026 and closes on June 23, 2026, with listing proposed on both NSE and BSE on June 29, 2026.

The proceeds from the issue will be utilized towards cloud and server infrastructure, technology and product development expenses, marketing initiatives, lease obligations, investment in its wholly owned subsidiary TIB for working capital requirements, inorganic growth opportunities and general corporate purposes. The company generated total income of Rs 693.21 crore in FY25 and Rs 748.91 crore for the nine months ended December 2025. Despite strong revenue growth, the company remains loss-making, reporting a loss of Rs 194.11 crore in FY25. Key strengths include its established insurtech platform, diversified insurance product portfolio, strong technology capabilities and large advisor network. Key risks include continued losses, intense competition in the fintech and insurtech sectors, regulatory changes and dependence on sustained growth to achieve profitability.