Turtlemint Fintech IPO 2026: Price Band, Dates, Size

Issue opening dates and anchor book

Turtlemint Fintech Solutions Limited is scheduled to open its initial public offering (IPO) on June 19, 2026. The issue is set to close on June 23, 2026, with the anchor investor bidding planned a day earlier on June 18. The shares are scheduled to list on the BSE and NSE on Monday, June 29.

The IPO is positioned as a Mainboard book building issue, with the company and its bankers outlining a standard timetable for allotment and refunds after the subscription window closes. The bidding cut-off time on the last day is stated as 5 PM on June 23. These dates matter for applicants tracking when funds may be blocked and when allotment and credit to demat accounts are expected.

Price band, face value and valuation range

The company has fixed a price band of ₹144 to ₹152 per equity share. The face value is Re 1 per share, as stated in the issue details. Investors can bid for a minimum of 98 shares and in multiples thereafter.

Based on the price band, the implied market capitalisation after the issue is expected to be in the range of about ₹4,310 crore to ₹4,513 crore. Another stated figure pegs the post-listing market capitalisation at ₹4,476.08 crore at the upper end of the price band. Together, these numbers place the offering in the mid-cap valuation zone for a technology-led distribution platform.

Issue size, fresh issue and offer for sale

At the upper end of the price band, the total IPO size is estimated at around ₹883 crore. At the lower end, it is around ₹871 crore. One set of details specifies the upper-end fundraising target as ₹882.67 crore, which aligns with the approximate ₹883 crore estimate.

The public issue comprises a fresh issue of equity shares aggregating up to ₹660.72 crore and an offer for sale (OFS) of up to 1,46,01,846 equity shares. The OFS quantity is also described as 1.46 crore equity shares. This mix indicates the IPO will both raise new capital for the company through the fresh issue and provide partial exits for existing shareholders through the OFS component.

Who is selling in the OFS

The OFS includes stake sales by promoters Anand Prabhudesai and Dhirendra Mahyavanshi. It also includes sales by existing investors Peak XV Partners, Nexus Venture Partners, Jungle Ventures, Blume Ventures, and individual investor Kunal Shah.

Turtlemint is described as a Nexus Venture Partners-backed insurtech startup. The presence of multiple institutional shareholders in the OFS is a key structural detail because it clarifies that a part of the IPO proceeds will go to selling shareholders, not the company.

Business snapshot: insurance distribution platform

Turtlemint operates a technology-led insurance distribution platform connecting customers, insurers and digital partners. The issue is being brought to market at a time when some reporting notes the company has been running at a loss.

For investors, the platform description helps explain why the company is classified within insurtech and distribution, and why listing interest may hinge on growth and operating metrics that typically matter for scaled distribution models.

Investor category reservation and minimum bid

Of the total issue size, 75 percent has been reserved for qualified institutional buyers (QIBs), 15 percent for non-institutional investors, and 10 percent for retail investors. The minimum application size is 98 shares, with bids allowed in multiples thereafter.

This allocation is important for market participants tracking the likely demand mix across institutions, high net-worth individuals, and retail. It also sets the framework for how subscription data will be reported across the three main categories during June 19 to June 23.

Key intermediaries: lead managers and registrar

ICICI Securities, JM Financial, Jefferies India and Motilal Oswal Investment Advisors are the book-running lead managers for the IPO. Kfin Technologies is the registrar.

The involvement of multiple book-running lead managers typically supports distribution across institutional and non-institutional channels. The registrar manages application processing, allotment coordination, and investor servicing for refunds and demat credits as per the stated timeline.

Grey market premium (GMP) indications mentioned

Some IPO trackers cited that the grey market premium (GMP) is “₹-” as of the latest updates shown. Another stated that Turtlemint Fintech IPO GMP stood at ₹0 as of June 13, 2026, indicating no premium in the grey market at that point.

GMP data, where available, is often used as an informal indicator of sentiment, but it is not an official measure of demand and can change daily. The numbers cited here reflect only what was reported in the provided details.

Timeline and key numbers at a glance

Post-issue schedule for applicants

Why these details matter for investors

The price band and issue structure together determine how much capital flows into the company versus how much is paid to selling shareholders. With a fresh issue of up to ₹660.72 crore, the fundraising portion is a substantial share of the total estimated issue size of roughly ₹871 crore to ₹883 crore.

The allocation split of 75 percent QIB, 15 percent non-institutional, and 10 percent retail sets expectations for how the book might build across categories during the subscription window. Investors also have a clear operational timetable, with allotment expected on June 24 and listing on June 29, which can help plan liquidity and portfolio exposure around the issue.

Conclusion

Turtlemint Fintech Solutions’ IPO is set to run from June 19 to June 23, 2026, with anchor bidding on June 18 and a price band of ₹144 to ₹152. The issue combines a fresh issue of up to ₹660.72 crore with an OFS of up to 1.46 crore shares, and listing is scheduled for June 29 on the BSE and NSE.