/ 98 Shares
19-Jun-2026 - 23-Jun-2026
₹ 144 - ₹ 152
₹ 14896.00
98
58,070,398
Face Value - ₹ 1/- Per Share
Listing at NSE BSE
59,255 Application Required in Retail for 1 Time.
Registrar : KFin Technologies Limited
Fresh Issue of Equity Shares aggregating upto Rs.660.72 Cr and Offer for Sale of up to 1,46,01,846 Equity Shares
| Category | % | Shares/Amount |
|---|---|---|
| QIB | 75% | 43,552,800 Shares RS.662.00 CR |
| HNI 1 | 5% | 2,903,519 Shares RS.44.13 CR @ 2116 FORM 1X |
| HNI 2 | 10% | 5,807,039 Shares RS.88.27 CR @ 4233 FORM 1X |
| Retail | 10% | 5,807,039 Shares RS.88.27 CR @ 59255 FORM 1X |
BRLMs: ICICI Securities, Jefferies India, JM Financial, Motilal Oswal
| Retail (Upto 2 Lakh) | HNI (2 Lakh to 10 Lakh) | HNI (Above 10 Lakh) |
|---|---|---|
| 59255 FORM 1X | 2116 FORM 1X | 4233 FORM 1X |
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Upto 2 Lakh) | 1 | 98 | ₹ 14,896 |
| Retail (Upto 2 Lakh) | 13 | 1274 | ₹ 193,648 |
| S-HNI (2 Lakh to 10 Lakh) | 14 | 1372 | ₹ 208,544 |
| S-HNI (2 Lakh to 10 Lakh) | 67 | 6566 | ₹ 998,032 |
| B-HNI (Above 10 Lakh) | 68 | 6664 | ₹ 1,012,928 |
? Turtlemint is a technology-enabled insurance distribution platform connecting
customers, insurance advisors and insurers. They have adopted the PoSP (Point of
Sale Person) distribution model in 2015.
? As of March 31, 2025, and December 31, 2025, the largest certified PoSP network
among peers had been established, as per the Redseer Report.
? Growth in gross direct premium income (GDPI) across retail health, retail life new
business and motor insurance was around three times the overall market growth
between Fiscals 2020 and 2025.
? Platform Premium increased from ?698.90 crore in Fiscal 2020 to ?2,945.94 crore
in Fiscal 2025, reflecting a CAGR of 33.34% and by 33.63% from ?1,969.26 crore in
the 9 months period ended December 31, 2024 to ?2,631.57 crore in the 9 months
period ended December 31, 2025.
? Between April 1, 2022, and September 30, 2025, 2.19 crore insurance policies were
distributed through the platform.
? During the same period, Platform Premium of ?10,066.10 crore was generated across
~97.88% of India’s pin codes.
? A large and geographically diversified Digital Partner network has been built across
India.
? As of December 31, 2025, 631,885 Digital Partners, including 507,124 certified
PoSPs, had been onboarded and trained as per IRDAI regulations.
? The platform provides Digital Partners with tools for product comparison, quotes,
training, lead management, customer relationship management and claims support.
? A phygital model is followed, combining technology with on-ground Digital Partners
and physical branches.
? Investments are being made in artificial intelligence technologies to improve
productivity, efficiency and customer support scalability.
? As of March 2025, Turtlemint Pro had the highest number of downloads among
insurance seller apps in India, as per Sensor Tower.
? A strong presence has been established in B30+ markets, with over 80% of Digital
Partners and nearly 75% of Platform Premium coming from these regions as of
December 31, 2025.
? As of December 31, 2025, partnerships had been established with 45 Insurer
Partners, representing about 70% of life and general insurers in India.
Competitive Strength
Business Strategies
| Period Ended | 31 Dec 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 467.14 | 578.69 | 612.55 | 900.37 |
| Total Income | 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 | 563.80 | 743.45 |
| Reserves and Surplus | 288.77 | 408.88 | 562.22 | 741.87 |
| Total Borrowing | 0.00 | 0.00 | 0.00 | |
| Amount in ? Crore | ||||
| Issue Objects | Est Amt (? 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 | 193.04 |
| 3 | Expenditure towards marketing initiatives by the Company | 39.07 |
| 4 | 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 | 22.21 |
| 5 | 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 | 20.87 |
| 6 | Investment in 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 | 429.47 |
Once you create your account, Login to InvestoYard.
Under IPO Section, you will be able to see a list of Ongoing IPOs, where you can click on apply button.
Add quantity of shares to apply – Maximum 3 bids are allowed (For retail category – max amount Rs.2,00,000/-).
Enter your UPI ID and you will receive mandate on your UPI App.
Once you accept the mandate, Application is submitted successful.
How to Apply for IPOs on InvestoYard
Step 01 : Once you create your account, Login to InvestoYard.
Step 02 : Under IPO Section, you will be able to see a list of Ongoing IPOs, where you can click on apply button.
Step 03 : Add quantity of shares to apply – Maximum 3 bids are allowed (For retail category – max amount Rs.2,00,000/-).
Step 04 : Enter your UPI ID and you will receive mandate on your UPI App.
Step 05 : Once you accept the mandate, Application is submitted successful.
