Turtlemint Fintech IPO GMP Today, Price & Details
Turtlemint Fintech IPO GMP Today, Price Band, Subscription Status, Allotment & Listing Details
About Turtlemint Fintech
Turtlemint is an insurtech company — a technology platform that helps a large network of advisors and agents (POSPs) sell insurance across life, health, and motor lines. It sits at the intersection of financial services and technology, monetising insurance distribution at scale rather than underwriting risk itself. The IPO was a mainboard offering on the NSE, sized at ₹882.67 Cr and priced at ₹144–152 per share with a low face value of ₹1.
The financials show a business that has reached real scale. Revenue of ₹741.07 Cr and net profit of ₹187.39 Cr give it a healthy bottom line, with an EBITDA margin of 11.89% and a strong RONW of 47.29%. An EPS of ₹8.11 underpins the valuation.
The issue was mostly fresh — around ₹660.72 Cr of new capital alongside a ₹221.95 Cr offer for sale. Fresh capital in a platform business typically funds technology, network expansion, and marketing to deepen its distribution reach.
Turtlemint Fintech IPO — Investment Analysis
At the upper band of ₹152, Turtlemint was valued at 18.74x earnings on an EPS of ₹8.11 — not demanding for a profitable, scaled fintech platform, though tech-distribution businesses are often judged on growth as much as current earnings.
The financial profile has genuine positives: a ₹187.39 Cr profit on ₹741.07 Cr revenue and a 47.29% RONW point to a capital-efficient platform model. That said, insurance distribution is competitive and regulation-sensitive, so margin durability matters.
The risks showed up in the market's reaction. The issue was subscribed just 1.63x overall — with retail at 1.11x and NII a weak 0.55x — a lukewarm book that signalled investor caution. Platform businesses also face regulatory scrutiny and dependence on insurer partnerships.
That caution proved warranted at listing: the stock debuted below its issue price, opening at ₹136.20 against the ₹152 band top — a loss of roughly 10% — and stayed soft near ₹135.40. You can model outcomes with our IPO profit calculator. Investors should consult a SEBI-registered financial advisor before making investment decisions.
Disclaimer: This analysis is auto-generated from publicly available financial data and should not be considered investment advice. Always consult a SEBI-registered financial advisor before making investment decisions.
Turtlemint Fintech IPO — Pros & Cons
Strengths
- A genuinely profitable fintech, with net profit of ₹187.39 Cr on revenue of ₹741.07 Cr — rare among tech-platform IPOs.
- A strong, capital-efficient RONW of 47.29% reflecting the asset-light distribution model.
- Exposure to India's structurally under-penetrated insurance market via a scaled advisor network.
- A not-demanding valuation at 18.74x earnings for a profitable platform business.
- A mostly fresh issue — around ₹660.72 Cr of the ₹882.67 Cr — funding technology and network growth.
Risks
- A weak listing, with the stock opening at ₹136.20 — roughly 10% below its ₹152 issue price.
- Lukewarm demand, with the issue subscribed just 1.63x and NII at only 0.55x, signalling investor caution.
- Insurance distribution is competitive and heavily regulation-sensitive, which can pressure take-rates and margins.
- Dependence on insurer partnerships and regulatory frameworks (POSP norms) creates external risk outside the company's control.
- As a platform business, sustaining growth and margins amid competition from other insurtechs is a continual challenge.
Turtlemint Fintech IPO Details
| Company Name | Turtlemint Fintech |
|---|---|
| IPO Type | MAINBOARD |
| Exchange | NSE |
| Price Band | ₹144 - ₹152 |
| Face Value | ₹1 per share |
| Lot Size | 98 shares |
| Min Investment | ₹14,896 |
| Total Issue Size | ₹882.67 Cr |
|---|---|
| Fresh Issue | ₹660.72 Cr |
| Offer for Sale | ₹221.95 Cr |
| Registrar | Kfin Technologies Ltd. |
| Lead Manager | List of Issues managed, ICICI Securities Ltd., Jefferies India Pvt.Ltd., JM Financial Ltd., Motilal Oswal Investment Advisors Ltd. |
| IPO Status | Listed |
Turtlemint Fintech IPO Dates
Turtlemint Fintech IPO Listing Performance
Turtlemint Fintech IPO listed on NSE on 29 Jun 2026 at ₹136, a discount of 10.4% below the issue price of ₹152. Investors who received allotment faced a loss of ₹1,548 per lot (98 shares) on listing day.
Turtlemint Fintech IPO — Key Highlights
- Insurtech distribution platform, mainboard NSE IPO of ₹882.67 Cr.
- Profitable, with net profit of ₹187.39 Cr on revenue of ₹741.07 Cr.
- Strong RONW of 47.29% from an asset-light model.
- Weak demand — subscribed just 1.63x overall.
- Listed below issue at ₹136.20 versus ₹152 (about -10%).
- Valued at 18.74x earnings on an EPS of ₹8.11.
Turtlemint Fintech Financial Performance
| Metric (₹ Cr) | FY 2023 | FY 2024 | FY 2025 | 9M FY 2026* |
|---|---|---|---|---|
| Revenue | 537.98 | 564.17 | 700.27 | 741.07 |
| Expenses | 860.66 | 790.62 | 930.75 | 881.37 |
| Net Income (PAT) | 283.76 | 186.99 | 202.56 | 187.39 |
| Margin (%) | 52.75% | 33.14% | 28.93% | 25.29% |
Turtlemint Fintech IPO Valuations & Key Metrics
Valuation Ratios
| EPS | ₹8.11 |
|---|---|
| P/E Ratio | 18.74x |
| NAV | ₹7,768.02 |
| Debt/Equity | 0.600 |
Return Metrics
| RONW (%) | 47.29% |
|---|---|
| EBITDA Margin | 11.89% |
Turtlemint Fintech IPO Reservation / Allocation
Turtlemint Fintech IPO Anchor Investors
| Bid Date | 18 June 2026 |
|---|---|
| Shares Offered | 2,61,31,680 shares |
| Anchor Portion (INR Cr.) | INR 397.20 crore |
| Anchor lock-in period end date for 50% shares (30 Days) | 20 July 2026 |
| Anchor lock-in period end date for remaining shares (90 Days) | 18 September 2026 |
Turtlemint Fintech IPO Lead Manager & Registrar
Book Running Lead Manager
List of Issues managed, ICICI Securities Ltd., Jefferies India Pvt.Ltd., JM Financial Ltd., Motilal Oswal Investment Advisors Ltd.
IPO Registrar
Kfin Technologies Ltd.
Turtlemint Fintech IPO — Frequently Asked Questions
What is Turtlemint Fintech IPO GMP today?
As of today, the Grey Market Premium (GMP) for Turtlemint Fintech IPO is ₹2 per share, indicating a potential listing premium of 1.3% above the issue price of ₹152.
What is the price band and lot size of Turtlemint Fintech IPO?
Turtlemint Fintech IPO has a price band of ₹144 to ₹152 per equity share with a face value of ₹1. The minimum lot size is 98 shares, requiring a minimum investment of ₹14,896 at the upper band.
What are the important dates for Turtlemint Fintech IPO?
Turtlemint Fintech IPO opens for subscription on 19 Jun 2026 and closes on 23 Jun 2026. Allotment is expected on 24 Jun 2026. The shares are expected to list on NSE on 29 Jun 2026.
What is the investor category allocation in Turtlemint Fintech IPO?
The shares are reserved as follows — Qualified Institutional Buyers (QIB): 75.00%, Non-Institutional Investors (NII/HNI): 15.00%, and Retail Individual Investors: 10.00%.
How can I apply for Turtlemint Fintech IPO?
You can apply for Turtlemint Fintech IPO through your bank's net banking ASBA facility or via UPI-based application through any stockbroker platform. Ensure you have sufficient funds in your bank account as the amount will be blocked until allotment. The registrar for this IPO is Kfin Technologies Ltd..
What was Turtlemint IPO's price band and lot size?
Turtlemint was priced at ₹144 to ₹152 per share, with a lot of 98 shares. At the upper band the minimum retail investment came to about ₹14,896, and the face value was ₹1.
What does Turtlemint do?
Turtlemint is an insurtech platform that enables a large network of advisors and agents to sell life, health, and motor insurance — monetising distribution at scale rather than underwriting risk.
Why did Turtlemint have a weak listing?
Demand was lukewarm at just 1.63x subscription, and the stock listed about 10% below its issue price at ₹136.20 — a sign investors were cautious on the valuation and competitive risks.
Is Turtlemint profitable?
Yes — it reported net profit of ₹187.39 Cr on revenue of ₹741.07 Cr, with a strong 47.29% RONW, which is unusual for a tech-platform IPO.