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Turtlemint Fintech IPO Opens on 19 June 2026 with ₹882.67 Crore Valuation
Turtlemint Fintech Solutions Limited is opening its IPO on 19 June 2026 with a valuation of ₹882.67 crore, comprising a fresh issue of ₹660.72 crore and an offer for sale of 1.46 crore equity shares. The insurance distribution platform, which operates one of India's largest digital partner networks with over 6.3 lakh certified PoSPs, is scheduled to list on BSE and NSE on 29 June 2026.
Quick Facts
Who
Turtlemint Fintech Solutions Limited
What
IPO opening for public subscription
When
19 June 2026 - subscription opening
Where
Bombay Stock Exchange (BSE)
- IPO opening for public subscription
- Bookbuilding issue
- Fresh issue of equity shares
- Offer for sale of equity shares
- Listing on BSE and NSE
Turtlemint Fintech Solutions Limited, a technology-enabled insurance distribution platform, is launching its initial public offering (IPO) on 19 June 2026, with the subscription window open until 23 June. The ₹882.67 crore bookbuilding issue comprises a fresh issue of ₹660.72 crore and an offer for sale of 1.46 crore equity shares. Shares are tentatively scheduled to list on both the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on 29 June 2026, with allotment expected on 24 June and refund and share credit scheduled for 25 June.
The IPO pricing is set at an upper price band of ₹152 per share, with minimum investment amounts varying by investor category. Retail investors can invest a minimum of ₹14,985 (98 shares) and a maximum of ₹1,93,648 (1,274 shares), while institutional investors face different allocation limits. Qualified Institutional Buyers are allocated not less than 75 per cent of the net offer, Non-Institutional Investors not more than 15 per cent, and Retail-Individual Investors not more than 10 per cent.
Founded in 2015, Turtlemint operates as one of India's largest insurance distribution platforms, leveraging a phygital model that combines digital technology with on-ground insurance advisors. The company has built a network of over 6.3 lakh certified digital partners as of December 2025 and partnerships with 45 insurance companies, with presence across more than 19,000 pin codes, particularly in non-metro and B30+ markets.
The company's financial performance has shown strong growth. Revenue from operations reached ₹700.3 crore in FY25, up 24.1 per cent from ₹564.2 crore in FY24, while total income increased to ₹693.21 crore in FY25 from ₹119.12 crore in FY24. For the nine-month period ended December 31, 2025, total income stood at ₹748.91 crore, with EBITDA of ₹81.58 crore. According to recent reports, the Grey Market Premium for Turtlemint Fintech Solutions stood at ₹0 per share at the time of IPO opening.
Why This Matters
Turtlemint's IPO represents a significant milestone for India's insurtech sector, providing investors with exposure to a rapidly growing digital insurance distribution platform operating across 19,000+ pin codes with 6.3+ lakh certified partners. The company's strong financial growth (24.1% YoY revenue increase to ₹700.3 crore in FY25) and EBITDA of ₹81.58 crore in nine months ended December 2025 demonstrate the scalability of its phygital model in underserved Indian markets, making it a key play in financial inclusion and digital transformation.
Timeline & Sources
Jan 1, 2015
WireTurtlemint Fintech Solutions Limited founded
Dec 31, 2025
WireNine-month period ended with total income of ₹748.91 crore and EBITDA of ₹81.58 crore
Jun 19, 2026
WireTurtlemint IPO subscription opens
Jun 23, 2026
WireTurtlemint IPO subscription closes
Jun 24, 2026
WireAllotment of shares expected
Jun 25, 2026
WireRefund and credit of shares scheduled
Jun 29, 2026
WireListing on BSE and NSE (tentative)