Turtlemint Fintech Solutions Limited
MainboardTURTLEMINT • NSE
Issue details
Price band
₹144 - ₹152
Lot size
98 shares
Issue size
₹883 Cr
Min. investment
₹14,896
Registrar
KFin Technologies
Grey market premium
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IPO Timeline
Open
19 Jun
Close
23 Jun
Allotment
24 Jun
Listing
29 Jun
- Refunds & demat credit
- 25 Jun 2026
- Mandate end
- 8 Jul 2026
- Anchor lock-in 50%
- 24 Jul 2026
- Anchor lock-in 100%
- 22 Sep 2026
We calculate these dates from the allotment and close dates, so please treat them as indicative. Anchor lock-in applies only to issues with an anchor allotment.
Application size
| Category | Minimum | Maximum |
|---|---|---|
| RII | 98shares 1 lot · ₹14,896 | 1,274shares 13 lots · ₹1,93,648 |
| sNII (₹2L–₹10L) | 1,372shares 14 lots · ₹2,08,544 | 6,566shares 67 lots · ₹9,98,032 |
| bNII (above ₹10L) | 6,664shares 68 lots · ₹10,12,928 | No limit funds permitting |
Based on the upper price band of ₹152 and a lot of 98 shares.
Issue structure
Face value
₹1 per share
Issue type
Bookbuilding IPO
Sale type
Fresh capital cum OFS
Fresh issue
₹661 Cr
4,34,68,552 shares
Offer for sale
₹222 Cr
1,46,01,846 shares
Shares pre-issue
25,10,10,354
Shares post-issue
29,44,78,906
Reservation
- QIB
- 4,35,52,800
- NII
- 87,10,559
- Retail
- 58,07,039
Valuation & ratios
| Metric | Pre-IPO | Post-IPO |
|---|---|---|
| EPS | -7.73 | — |
| P/E | -19.66 | — |
| Market cap | ₹3,815.36 Cr. | ₹3,986.36 Cr |
| KPI | Mar 31, 2025 |
|---|---|
| ROE | -95.18% |
| ROCE | -59.09% |
| Debt/Equity | 0.15 |
| RoNW | -47.29% |
| EBITDA Margin | 12.44% |
| NAV | — |
| Price to Book Value | 0.02 |
Financials
| Metric | 31 Dec 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| 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 | 563.8 | 743.45 |
| Assets | 467.14 | 578.69 | 612.55 | 900.37 |
| Reserves & surplus | 288.77 | 408.88 | 562.22 | 741.87 |
| Total borrowing | — | 0 | 0 | 0 |
Figures in ₹ crore, as reported by the company in its offer document.
Objects of the issue
- 1.Expenditure towards cloud and server related infrastructure of the Company₹25.64 Cr
- 2.Salary expenditure towards the technology and product development teams of the Company₹193.04 Cr
- 3.Expenditure towards marketing initiatives by the Company₹39.07 Cr
- 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 Cr
- 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 Cr
- 6.Investment in wholly owned Subsidiary, TIB, for funding its working capital requirements₹128.64 Cr
- 7.Funding inorganic growth through unidentified acquisitions and strategic initiatives and general corporate purposes₹151.24 Cr
- 8.Issue Expenses₹80.01 Cr
What the company says it intends to do with the money raised.
Recent comparable IPOs
| Company | Issue price | P/E | Listing close | Listing gain |
|---|---|---|---|---|
| Pine Labs Ltd.Mainboard | ₹221 | -160.13 | ₹250.89 | +13.52% |
| Seshaasai Technologies Ltd.Mainboard | ₹423 | 28.63 | ₹411.45 | -2.73% |
| Finbud Financial Services Ltd.SME | ₹142 | 23.4 | ₹164.85 | +16.09% |
Past listing performance of comparable issues. This is not a forecast: listing gains vary widely and can turn negative.
Issue fundamentals compiled from the company's offer document via Chittorgarh, last read 27 Sep 2026. Always verify against the RHP before applying.