About
Turtlemint Fintech Solutions Limited is a technology-enabled distributor of financial products with a primary focus on insurance. The company operates proprietary technology platforms that connect Digital Partners, Insurer Partners and customers, helping facilitate the sale and distribution of insurance and other financial products. Its wholly owned subsidiary, Turtlemint Insurance Broking Services Private Limited (TIB), is a composite insurance broker, while Turtlemint Mutual Funds Distributors Private Limited (TMF) distributes mutual fund products. The company’s offerings include health, life and motor insurance, along with mutual funds, personal loans, business loans and credit cards. Turtlemint follows an asset-light business model and generates revenue mainly from commissions, rewards and fees received from insurer partners, asset management companies and other financial service providers for distributing their products. It does not earn revenue directly from customers. A nationwide network of Digital Partners and technology-driven distribution infrastructure supports its business.
IPO schedule
| Issue open date | 2026-06-19 |
| Issue close date | 2026-06-23 |
| UPI mandate deadline | 2026-06-23 (5 PM) |
| Allotment finalization | 2026-06-24 |
| Refund initiation | 2026-06-25 |
| Share credit | 2026-06-25 |
| Listing date | 2026-06-29 |
| Mandate end date | 2026-07-08 |
| Lock-in end date for anchor investors (50%) | 2026-07-23 |
| Lock-in end date for anchor investors (remaining) | 2026-09-21 |
Financials
| Financial Year Ended | March 2024 | March 2025 | December 2025 |
| Total Assets | 612.55 | 578.69 | 467.14 |
| Revenue | 119.12 | 693.21 | 748.91 |
| Profit After Tax | -193.35 | -194.11 | -187.39 |
Issue size
| Funds Raised in the IPO | Amount |
| Total issue size | 882.67 |
| Fresh Issue - Proceeds go to the company | 660.72 |
| Offer for sale - Proceeds go to the existing investors | 221.95 |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Cloud and server infrastructure | 25.64 (3.88%) |
| Salaries for technology and product development teams | 193.04 (29.22%) |
| Marketing initiatives | 39.07 (5.91%) |
| Lease payments for existing properties (Company) | 22.21 (3.36%) |
| Lease payments for existing properties (TIB) | 21 (3.16%) |
| Investment in TIB for working capital requirements | 128.64 (19.47%) |
| General corporate purposes | 231.25 (35%) |
Strengths
- Strong presence in the PoSP ecosystem with a technology-driven insurance distribution platform.
- Large and diversified network of Digital Partners supported by training and engagement programs.
- Long-term relationships with multiple insurer partners across insurance product categories.
- Asset-light business model that enables scalable operations across India.
- Proprietary technology platform that supports end-to-end distribution of insurance and financial products.
Risks
- A majority of revenue comes from general insurance products, especially motor insurance.
- The business depends heavily on attracting, retaining and managing Digital Partners.
- Revenue is concentrated among a limited number of insurer partners.
- Regulatory changes in insurance and financial services could affect business operations and revenue.
- Cybersecurity breaches, data leaks or technology failures could adversely impact the business.
Allotment Status for Turtlemint Fintech Solutions
To check your IPO allotment status:
- Visit the Kfin Technologies IPO Application Status page.
- Select the company name from the dropdown menu.
- Select and enter one of the following: PAN, Application Number, DP/Client ID, or Account Number/IFSC.
- Click Submit to view your allotment status.