BSE List Price : ₹136.20

NSE List Price : ₹134.90

subscription

Category	Times
QIBs	1.63x
HNIs	0.55x
Retail	1.11x
Total : 1.24x

IPO Market Lot(s) Distribution

Application	Lot Size	Shares	Amount
Retail Minimum	1	98	₹14,896
Retail Maximum	13	1,274	₹193,648
S-HNI Minimum	14	1,372	₹208,544
S-HNI Maximum	67	6,566	₹998,032
B-HNI Minimum	68	6,664	₹1,012,928

About the Company

Established in 2015, Turtlemint Fintech is a prominent insurtech (insurance and technology) platform offering a wide range of insurance and financial solutions. Its product portfolio includes health insurance, life insurance, motor insurance (car and bike), term insurance, tax-saving investment plans, and various other financial products. The company also provides mutual fund investment options, including equity funds, debt funds, liquid funds, balanced funds, as well as loan services.

The company aims to promote financial protection and wealth creation by making insurance and investment products easily accessible to individuals across India. Through the Turtlemint platform, customers can compare different insurance policies and financial products, helping them choose the most suitable option based on their needs and preferences.

Company Financial Report

_{Amount ₹ in Crores}

Period Ended	Revenue	Expense	PAT	Assets
2023	₹460.11	₹748.30	₹-288.18	₹900.37
2024	₹119.12	₹312.47	₹-193.35	₹612.55
2025	₹693.21	₹882.57	₹-194.11	₹578.69
Dec 2025	₹748.91	₹881.37	₹-187.39	₹467.14

Company Promoter

Anand Rohidas Prabhudesai

Dhirendra Nalin Mahyavanshi

Know before investing

• • Strengths

  Strong Presence in the PoSP Network: The company has developed an extensive and scalable nationwide network of insurance advisors, allowing it to expand customer outreach and support business growth.

  Established Relationships with Insurance Partners: Long-standing collaborations with various insurance companies enable the company to offer a diverse range of products while enhancing its distribution strength and market reach.

• • Risks

  Risk of Continued Financial Losses and Negative Cash Flows: The company has incurred significant losses, experienced negative cash flows from operations, witnessed a decline in net worth, and reported adverse return ratios in recent years. These factors could affect its financial position and future sustainability.

  Dependence on Commission-Based Revenue: A significant portion of the company’s income is generated through commissions, incentives, and fees earned from insurance partners and financial service providers. Any decrease in commission structures or payout rates could negatively affect its profitability and cash flow generation.

Objects of the Issue & Utilisation of proceeds

Expenditure towards cloud and server related infrastructure of the Company;.

Salary expenditure towards the technology and product development teams of the Company.

Expenditure towards marketing initiatives by the Company.

Expenditure towards lease payments for existing properties of the Company and wholly owned Subsidiary, TIB, breakup of which is as follows: Expense by the Company.

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.

Investment in the wholly owned Subsidiary, TIB, for funding its working capital requirements; and.

Funding inorganic growth through unidentified acquisitions and strategic initiatives and general corporate purposes.

 

Company  Address

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/

IPO Registrar

Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: turtlemint.ipo@kfintech.com
Website: https://ipostatus.kfintech.com/

IPO Review

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