Turtlemint Fintech Solutions Limited is a technology-driven financial services platform that connects insurance advisors, customers, insurance companies, and enterprise partners for offering a wide range of insurance products digitally, including health insurance, life insurance, motor insurance, and other protection products.
The platform enables users to compare and purchase insurance products from multiple insurers, helping customers choose suitable policies while simplifying policy issuance, renewal, and claims management. The company also offers access to mutual fund distribution and other financial products, building a broader digital financial services ecosystem.
As of Fiscal 2025, the company had a network of approximately 4.3 lakh registered POSP (Point of Sale Person) advisors, accounting for nearly 15.97% of India’s total POSP insurance industry, making it one of the largest insurance distribution networks in the sector.
As of September 30, 2025, Turtlemint had partnerships with 44 insurer partners, representing over 70% of life and general insurers in India. From FY23 to 9M FY26, the company facilitated distribution of 21.87 million insurance policies across 19,171 pin codes, covering 97.88% of India’s total pin codes.
The company also operates Turtlefin, its enterprise insurance platform that provides digital insurance distribution solutions to banks, ecommerce companies, fintech companies, and other enterprises through API-based integration technology. Additionally, around 73.78% of platform premiums originated from B30+ markets in FY25, highlighting strong reach in smaller cities and underpenetrated markets.
Turtlemint Fintech Solutions IPO – Details
| IPO Opening Date | 19 June 2026 |
| IPO Closing Date | 23 June 2026 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue Size: 5,80,70,399 Shares Worth ₹882.67 Crore Fresh Issue: 4,34,68,553 Shares Worth ₹660.72 Crore Offer For Sale: 1,46,01,846 Shares Worth ₹221.95 Crore |
| Face Value | ₹1 per equity share |
| IPO Price | ₹144 – ₹152 per share |
| Market Lot | 98 Shares |
| Min Order | 98 Shares [1 Lot] |
| Listing At | BSE, NSE |
| Register | Kfin Technologies Ltd. |
| QIB Shares Offered | 75% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 10% |
Turtlemint Fintech Solutions IPO – Date Schedule
| IPO Open Date | 19 June 2026 |
| IPO Close Date | 23 June 2026 |
| Basis of Allotment | 24 June 2026 |
| Initiation of Refund | 25 June 2026 |
| Credit of Shares to Demat Account | 25 June 2026 |
| IPO Listing Date | 29 June 2026 |
| Cut-off time for UPI mandate confirmation | 5 PM on June 23, 2026 |
Turtlemint Fintech Solutions IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 98 | ₹14,896 |
| Retail (Max) | 13 | 1274 | ₹1,93,648 |
| S-HNI (Min) | 14 | 1372 | ₹2,08,544 |
| S-HNI (Max) | 67 | 6566 | ₹9,98,032 |
| B-HNI (Min) | 68 | 6664 | ₹10,12,928 |
Competitive Strength
- Strong positioning in the PoSP landscape driving scalable pan India distribution;
- Diversified and granular Digital Partner network enabled by tech-driven training;
- Long-term partnerships with multiple Insurer Partners;
- Consistently strong earnings and high Digital Partner retention drive favourable unit economics and operating leverage;
- Self-reinforcing flywheels driving strong network and learning effects; and
- Promoter led company with an experienced management team backed by marquee investors.
Company Promoters
- Anand Rohidas Prabhudesai
- Dhirendra Nalin Mahyavanshi
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2023 | ₹460.11 Cr | ₹748.30 Cr | – ₹288.18 Cr | ₹0.00 Cr |
| 31 March 2024 | ₹119.12 Cr | ₹312.47 Cr | – ₹193.35 Cr | ₹0.00 Cr |
| 31 March 2025 | ₹693.21 Cr | ₹882.57 Cr | – ₹194.11 Cr | ₹0.00 Cr |
| 31 December 2025 | ₹748.91 Cr | ₹881.37 Cr | – ₹187.39 Cr | ₹0.00 Cr |
Key Performance Indicator
| KPI | Values (Dec 31, 2025) |
|---|---|
| ROE | – |
| ROCE | – |
| RoNW | -63.38% |
| PAT Margin | – |
| EBITDA Margin | – |
| Price to Book Value | 2.77 |
| Pre IPO | Post IPO | |
| EPS (₹) | -7.77 | – |
| P/E (x) | – | – |
Object Of The Issue
| Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|
| Expenditure towards cloud and server related infrastructure of the Company. | ₹25.64 |
| Salary expenditure towards the technology and product development teams of the Company. | ₹193.04 |
| Expenditure towards marketing initiatives by the Company. | ₹39.07 |
| Expenditure towards lease payments for existing properties of the Company and wholly owned Subsidiary, TIB, the breakup of which is as follows: Expense by the Company. | ₹22.21 |
| 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. | ₹20.87 |
| Investment in wholly owned Subsidiary, TIB, for funding its working capital requirements. | ₹128.64 |
| Funding inorganic growth through unidentified acquisitions, strategic initiatives, and general corporate purposes. |
Turtlemint Fintech Solutions IPO Peer Comparison
| S. No. | Face Value (₹) | Company Name | P/E Ratio |
|---|---|---|---|
| 1 | 2 | PB Fintech Limited | 110.00 |
✅Strengths
- Strong network of 4.3+ lakh POSP insurance advisors.
- Partnership with 44 insurance companies across India.
- Distributed 21.87 million policies with pan-India reach.
- Technology-driven platform with Turtlemint Pro & Turtlefin.
⚠️Risks
- Faces strong competition from digital insurance players.
- High dependence on insurer partnerships.
- Regulatory changes by the Insurance Regulatory and Development Authority of India can impact business.
- Business largely dependent on insurance distribution revenue.
Turtlemint Fintech Solutions IPO Promoter Holding
| Pre-Issue Share Holding | 17.22% |
| Post Issue Share Holding | 13.21% |
Turtlemint Fintech Solutions IPO Prospectus
Company Contact Information
| Turtlemint Fintech Solutions Ltd. The ORB – Sahar, 4B, 1st Floor, A Wing, Marol Vill Andheri (East), Mumbai, Maharashtra, 400099 Phone: 1800 266 0101 Email: support@turtlemint.com Website: https://www.turtlemintinsurance.com/ |
Turtlemint Fintech Solutions IPO Registrar
| Kfin Technologies Ltd. Phone: 04067162222, 04079611000 Email: turtlemint.ipo@kfintech.com Website: https://ipostatus.kfintech.com/ |
Turtlemint Fintech Solutions IPO Lead Manager(s)
| 1. JM Financial Limited 2. ICICI Securities Limited 3. Jefferies India Private Limited 4. Motilal Oswal Investment Advisors Limited |
Turtlemint Fintech Solutions IPO FAQs
| What is the Turtlemint Fintech Solutions IPO? Turtlemint Fintech Solutions IPO is a main-board IPO. The issue is priced at ₹144 to ₹152 per equity share. The IPO is to be listed on the BSE & NSE. |
| When will the Turtlemint Fintech Solutions IPO open? The IPO is to open on 19 June 2026 for QIB, NII, and Retail Investors. |
| What is Turtlemint Fintech Solutions IPO Investors Portion? The investors’ portion for QIB – 75%, NII – 15%, and Retail – 10%. |
| What is the Turtlemint Fintech Solutions IPO Size? Turtlemint Fintech Solutions IPO size is ₹882.67 Crore. |
| What is the Turtlemint Fintech Solutions IPO Minimum and Maximum Lot Size for Retail? The minimum bid is 98 Shares with ₹14,896, while the maximum bid is 1274 Shares with ₹1,93,648. |
| What is the Turtlemint Fintech Solutions IPO Allotment Date? Turtlemint Fintech Solutions IPO allotment date is 24 June 2026. |
| What is the Turtlemint Fintech Solutions IPO Listing Date? Turtlemint Fintech Solutions IPO listing date is 29 June 2026. The IPO is to be listed on the BSE and the NSE. |
