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IPO Details, Date, Timetable, Price and Review
Turtlemint Fintech Solutions IPO is a mainboard IPO aggregating up to 882 crore 67 lakh 4 hundred ninety six rupees. The issue consists of a fresh issue of 4,34,68,552 shares (aggregating up to 660 crore 72 lakh 19 thousand 9 hundred four rupees) and an offer for sale of 1,46,01,846 shares (aggregating up to 221 crore 94 lakh 80 thousand 5 hundred ninety two rupees).
The IPO opened for subscription on 19 June 2026 and closes on 23 June 2026. The basis of allotment was finalised on 24 June 2026. The shares were listed on NSE and BSE on 29 June 2026.
The price band for the IPO is set at ₹144 to ₹152 per share. The minimum amount required for a retail investor is ₹14,896 (98 shares, 1 lot). The minimum amount required for an sHNI investor is ₹2,08,544 (1,372 shares, 14 lots).
The final allotment price for the Turtlemint Fintech Solutions IPO was fixed at ₹152 per share. The shares successfully listed on the BSE at ₹136.20 per share (with a listing gain of -10.39%) and on the NSE at ₹134.90 per share (with a listing gain of -11.25%).
ICICI Securities Ltd, Jefferies India Pvt Ltd, JM Financial Ltd and Motilal Oswal Investment Advisors Ltd is the lead manager and KFin Technologies is the registrar of the IPO.
Refer to Turtlemint Fintech Solutions RHP for more detailed information.
Turtlemint Fintech Solutions Share Price Analysis Local DB (Max)
Turtlemint Fintech Solutions IPO Details Listed
IPO Issue Details
Turtlemint Fintech IPO Lot Size & Required Amount
Number of Shares Per Lot = Shares
| Application | Lot(s) | Shares | Amount |
|---|---|---|---|
|
Retail (Min) Minimum investment required for Retail Individual Investors (RII). |
1 | 98 | ₹14,896 |
|
Retail (Max) Maximum investment allowed for Retail Individual Investors (Must be under ₹2 Lakhs). |
13 | 1274 | ₹1,93,648 |
|
S-HNI (Min) Minimum investment for Small High Net-worth Individuals (sHNI) (Must be above ₹2 Lakhs). |
14 | 1372 | ₹2,08,544 |
|
S-HNI (Max) Maximum investment for Small High Net-worth Individuals (sHNI) (Must be up to ₹10 Lakhs). |
67 | 6566 | ₹9,98,032 |
|
B-HNI (Min) Minimum investment for Big High Net-worth Individuals (bHNI) (Must be above ₹10 Lakhs). |
68 | 6664 | ₹10,12,928 |
IPO Reservation
Turtlemint Fintech Solutions IPO offers total 5,80,70,398 shares (100.00%) . Out of which 4,35,52,799 shares (75.00%) allocated to QIB, 1,74,21,119 shares (35.00%) allocated to QIB (Ex- Anchor), 87,10,560 shares (15.00%) allocated to NII, 58,07,040 shares (10.00%) allocated to RII and 2,61,31,680 shares (45.00%) allocated to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
|
QIB Shares Offered
Qualified Institutional Buyers (e.g., mutual funds, banks). |
4,35,52,799 shares (75.00%) |
|
-
QIB (Anchor Investor)
A portion of QIB shares reserved specifically for anchor investors. |
2,61,31,680 shares (45.00%) |
|
-
QIB (Ex. Anchor)
Remaining QIB shares after anchor investor allocation. |
1,74,21,119 shares (35.00%) |
|
NII (HNI) Shares Offered
Non-Institutional Investors, also known as High Net-worth Individuals. |
87,10,560 shares (15.00%) |
|
-
bNII (bids > ₹10L)
Big HNI category for applications above ₹10 Lakhs. |
58,07,040 shares (10.00%) |
|
-
sNII (bids < ₹10L)
Small HNI category for applications between ₹2 Lakh and ₹10 Lakh. |
29,03,520 shares (5.00%) |
|
Retail Shares Offered
Retail Individual Investors applying for up to ₹2 Lakh. |
58,07,040 shares (10.00%) |
| Total Shares Offered | 5,80,70,398 shares (100.00%) |
IPO Anchor Investors
Turtlemint Fintech Solutions IPO raises ₹397.20 crore from anchor investors. Turtlemint Fintech Solutions IPO anchor bid date was 18 June 2026.
💼 Anchor Investors Allocation Letter (PDF)| 30 Dec 25 In Cr. | 31 Mar 25 In Cr. | 31 Mar 24 In Cr. | 31 Mar 23 In Cr. | |
|---|---|---|---|---|
| Assets | 467.14 | 578.69 | 612.55 | 900.37 |
| Revenue | 748.91 | 693.21 | 119.12 | 460.11 |
| Profit After Tax | -187.39 | -194.11 | -193.35 | -288.18 |
| EBITDA | 81.58 | 82.43 | ||
| Net Worth | 295.68 | 410.46 | 563.8 | 743.45 |
| Reserves & Surplus | 288.77 | 408.88 | 562.22 | 741.87 |
Financial Performance Indicator (FPI)
| FPI | 31 Dec 2025 | 31 Mar 2025 |
|---|---|---|
ROE Return on Equity (ROE) is a measure of financial performance... | -95.18% | |
ROCE Return on Capital Employed indicates how efficiently a company uses its capital. | -59.09% | |
Debt/Equity A ratio comparing total liabilities to shareholder equity. | 0.15 | |
RoNW RoNW (Return on Net Worth) is the percentage of profit earned relative to the company's net worth and reflects overall profitability for shareholders. | -63.38% | -47.29% |
EBITDA Margin EBITDA Margin indicates earnings before interest, tax, depreciation, and amortisation as a percentage of revenue; reflects core operating efficiency. | 11.01% | 12.44% |
Price to Book Value Compares the stock's market price to its book value per share. A higher ratio may indicate market premium. | 2.77 | 0.02 |
| Pre IPO | Post IPO | |
|---|---|---|
EPS Rs Earnings Per Share is a company's profit divided by outstanding shares. | -7.73 | |
P/E (x) Price to Earnings ratio is the ratio of a stock's market price to its earnings per share. Indicates how much investors pay per rupee of earnings. | -19.66 | |
Promoter Holding The percentage of total shares held by the company's founders or promoter group. | 17.05% | 13.10% |
IPO Peer Comparison
| Company Name | P/E ratio | EPS (Basic) | EPS (Diluted) | NAV (per share) | RoNW (%) | P/BV |
|---|---|---|---|---|---|---|
| PB Fintech | 202.33(PB) | 7.77(PB) | 7.65(PB) | 140.06(PB) | 5.74(PB) | 11.05(PB) |
| Turtlemint Fintech Solutions | (Turtlemint) | -7.33(Turtlemint) | -7.33(Turtlemint) | 7,768.02(Turtlemint) | -47.29(Turtlemint) | (Turtlemint) |
IPO Objects of the Issue
The Company proposes to utilise the net proceeds from the Issue towards the following objects:S.No | Objects | Amount (in ₹, Cr) |
1 | Expenditure towards cloud and server related infrastructure of the Company | 25.64 |
2 | Salary expenditure towards the technology and product development teams of the Company | 193.03 |
3 | Expenditure towards marketing initiatives by the Company | 39.07 |
Expenditure towards lease payments for existing properties of the Company and company's wholly owned Subsidiary, TIB, breakup of which is as follows: |
||
4 | Expense by the Company | 22.20 |
5 | Expense by the wholly owned Subsidiary, TIB | 20.87 |
6 | Investment in the wholly owned Subsidiary, TIB, for funding its working capital requirements | 128.64 |
7 | Funding inorganic growth through unidentified acquisitions and strategic initiatives and general corporate purposes | [●] |
Total: | [●] |
|
Turtlemint Fintech IPO Lead Manager(s)
- ICICI Securities Ltd
- Jefferies India Pvt Ltd
- JM Financial
- Motilal Oswal Investment Advisors Ltd
IPO Frequently Asked Questions (FAQ)
IPO is a mainboard IPO. The company will raise upto for . Face value is , Price band is , and cutt off price is . The IPO opens on and closes on . is the registrar and shares of IPO will be listed at .
The issue size of IPO is . For fresh issue: and for offer for sale: .
Price band for IPO is . Applying IPO application at cutt off price (the upper end of price band) is considered safer than the applying IPO application at lower end of price band.
The lot size of IPO is of . Minimum order quantity for retail investor is shares ( lots) and required amount is . Minimum order quantity for sHNI is shares ( lots) and required amount is . Minimum order quantity for bHNI investor is shares ( lots) and required amount is .
The investors portion reserved for QIB is , reserved for HNI is and reserved for retail investors.
The IPO will be available for subscription from to . IPO open date is and close date is .
Allotment date for IPO is . On the allotment date, After the IPO allotment status is announced, investors can check their IPO application allotment status on their respective IPO registrar.
The registrar for IPO is .
The IPO will be listed on at .