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Turtlemint Fintech Solutions IPO Review

Turtlemint Fintech Solutions IPO has been reviewed by 11 analysts, and the overall consensus is Neutral — carrying a score of 46. Out of the 11 analysts who have covered this IPO, 5 recommend subscribing while 6 advise caution or avoidance — reflecting a mixed view from the analyst community.

The issue is priced in the band of ₹144-152 per share, with a minimum application size of 98 shares (minimum investment of approximately ₹14,896 at the upper band). Subscription ran from 19 Jun 2026 to 23 Jun 2026. The issue size is ₹883 crore, a mix of fresh issue and offer for sale. As of now, the grey market premium (GMP) for Turtlemint Fintech Solutions IPO is quoting at ₹-5 (-3.3%), which gives a preliminary sense of how the street is pricing the listing — though GMP is unofficial and can swing sharply before the listing date. Scroll down for the full analyst breakdown and analyst-wise verdicts.

Abhishek Vohera, Founder of IPO Guru Researched & reviewed by Abhishek Vohera, Founder, IPO Guru Last updated Figures sourced from the RHP, BSE & NSE

Analyst verdict & score

One score out of 100, aggregated from every analyst verdict tracked for this issue. How it's calculated

Sentiment score
46/ 100
Neutral 5 of 11 recommend subscribing
How analysts voted
Apply 5
Neutral 2
Avoid 4
Not rated 2

Higher consensus indicates broader analyst agreement.

Detailed review

What the analyst reports say, grouped by the question you're likely asking.

General review

Turtlemint runs an insurance distribution technology platform. Revenue scaled rapidly, from ₹119.12 crore in FY24 to ₹693.21 crore in FY25 and ₹748.91 crore for the nine months to December 2025, but the company remains loss-making at every level. Opinion was evenly split: four analysts said subscribe and four said avoid.

Listing gains

With no profit, the notes value the issue on revenue, at roughly 6.8 times FY25 revenue on a market cap of ₹4,275 to ₹4,476 crore. Analysts point out the only listed Indian comparable trades at 15.3 times revenue but is profitable. The even split in ratings pointed to a muted listing.

Short-term strategy

Losses have not narrowed, running at ₹193.35 crore, ₹194.11 crore and ₹187.39 crore across the three periods, with negative RoNW of 47.29 percent. One note calls this unambiguously a pre-profitability business. Near-term, the coverage saw no visible path to profit, which is what drove the avoid ratings.

Long-term strategy

The positive notes argue the platform is maturing and that revenue scale will eventually bring operating leverage in a large, underpenetrated insurance distribution market. The opposing view is that the risk-reward is unfavourable while losses persist at this size. Long-term merit therefore hinges entirely on when losses turn.

How this is written: an AI-assisted summary of the 13 analyst reports listed below. It reports their views; IPO Guru does not make buy or sell recommendations.

Analyst reviews

Ordered by each analyst's track record over the past year; analysts still building one are listed last.

Latest IPO reviews

How analysts rated the most recent mainboard issues — and, where they have listed, how the call played out.

Frequently asked

Should I apply for Turtlemint Fintech Solutions IPO?

The analyst consensus for Turtlemint Fintech Solutions IPO tracked on this page is Neutral, with a score of 46/100. Out of 11 analysts who have reviewed this IPO, 5 recommend subscribing. IPO Guru does not make buy or sell recommendations. Read the individual analyst reports and consult a SEBI-registered advisor before investing.

What does the score of 46 mean for Turtlemint Fintech Solutions IPO?

The score of 46 is an aggregate of all analyst ratings tracked for Turtlemint Fintech Solutions IPO. A score in this range reflects mixed views — some analysts are positive while others are cautious. Read the individual analyst verdicts above for more context.

What was the actual listing price of Turtlemint Fintech Solutions IPO?

Turtlemint Fintech Solutions IPO listed on June 29, 2026 at ₹136.2, against the issue price of ₹152 — a loss of -10.39% (₹15.8 per share). View the full GMP history page for day-wise pre-listing trends.

What is the price band and lot size of Turtlemint Fintech Solutions IPO?

Turtlemint Fintech Solutions IPO was priced at ₹144-152 per share. The minimum lot size is 98 shares, making the minimum investment approximately ₹14,896 at the upper end of the price band. Subscription ran from 19 Jun 2026 to 23 Jun 2026.

Explore Turtlemint Fintech Solutions IPO further

Analyst views are one input. Read them alongside the demand, the grey market and the filings before you decide.

Turtlemint Fintech Solutions IPO review

A verdict is an opinion, not a guarantee.

IPO Guru collects analyst views, GMP, subscription and allotment for every Mainboard and SME issue. Weigh them together — and against the offer document — before you apply.

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Disclaimer: Grey Market Premium (GMP) is for information purposes and is not a guarantee of listing price. Always consult your financial advisor before investing.

Consensus
Neutral
Score
46 / 100
Listed at
₹136.2
Full IPO details