Turtlemint Fintech Solutions
Runs one of India's largest tech-enabled insurance distribution platforms (insurtech).
Last updated 2 Aug 2026, 4:46 pm IST
- Price band
- ₹144 – ₹152
- Lot size
- 98 shares
- Issue size
- ₹883 Cr
- Opens
- 19 Jun 2026
- Closes
- 23 Jun 2026
- Exchange
- Both
The numbers
- GMP
- ₹1 (~0.6%); slipped to a discount (₹-3) on listing eve
- Subscription
- 1.2× (final)
- Listing gain
- −10.4% (BSE) / −11.3% (NSE)
- Listing date
- 29 Jun 2026
- Model prediction
- Listing ~ flat to slightly negative
Anil Singhvi's take
The Ticker Tales take
Big insurtech platform with 6.3 lakh+ digital partners and 45 insurer tie-ups, but it stayed loss-making and demand was soft — the issue closed only about 1.2× subscribed and GMP had slipped to a discount on listing eve. It listed on 29 Jun, weak: around ₹136.20 on BSE (−10.4%) and ₹134.90 on NSE (−11.3%) versus the ₹152 issue price — exactly the flat-to-negative debut we flagged. A high-risk, long-horizon bet, not a listing-pop play. Final call — locked at close on 23 Jun.
More details
- Risks
- Loss-making; intense competition; commission-income reliance; insurer concentration
- Scale
- 6.32 lakh digital partners, 5.07 lakh certified PoSPs, 45 insurers
- Business
- Tech-enabled insurance distribution (phygital model)
- Key risk
- Net losses across last 3 FYs; revenue fell 81% FY23 to FY24
- GMP as of
- 18 Jun 2026
- Promoters
- Anand Prabhudesai & Dhirendra Mahyavanshi
- Strengths
- Large digital-partner network; phygital distribution; deep insurer integrations
- Buzz meter
- 🟡 Warm
- Financials
- Loss-making; revenue volatile (FY25)
- Anchor book
- ₹397 Cr
- Anil Singhvi
- Review video out — see 'View the X post' above
- Min investment
- ₹14,896
- Day 1 subscription
- QIB 73%, Retail 29%, overall 45%
- Anil Singhvi - Long-term call
- Not clearly stated
- Anil Singhvi - Listing-gain call
- Not clearly stated
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Calls here follow a set formula (GMP, subscription trends) plus Anil Singhvi's publicly shared view — not investment advice. Please do your own research before investing.