Turtlemint Fintech Solutions IPO: The allotment of Turtlemint Fintech Solutions IPO is all set to be finalised on Wednesday, 24 June. The ₹886 crore IPO opened for subscription on 19 June and closed on 23 June.

Founded in 2015, Turtlemint Fintech Solutions is a technology-driven insurance distribution platform that links customers, insurance advisors, and insurers, offering a wide range of insurance products, including health, motor, life, and other coverage solutions.

Turtlemint Fintech Solutions IPO GMP today

The GMP of Turtlemint Fintech Solutions IPO is ₹0 ahead of allotment, according to websites tracking the grey market. This means that the estimated listing price of Turtlemint Fintech Solutions IPO is likely to be same as the IPO price of ₹152, as per Investorgain.

Turtlemint Fintech Solutions IPO: How to check allotment status?

Investors who placed their bids during the subscription period can check their allotment on BSE, NSE or registrar’s website KFin Technologies.

Here’s a step-by-step guide on how to check allotment status-

NSE

1. Visit the NSE IPO status page.

2. Select ‘Equity & SME IPO Bid Details’.

3. Choose ‘Turtlemint Fintech Solutions’ from the list under the symbol ‘TURTLEMINT’.

4. Enter your PAN and IPO application number.

5. Click ‘Submit’ to view the status of your application.

BSE

1. Visit BSE IPO allotment status page.

2. Select ‘Equity’ under the Issue Type option.

3. Choose ‘Turtlemint Fintech Solutions Ltd’ from the Issue Name dropdown menu.

4. Enter either your PAN number or IPO application number.

5. Click on the ‘Search’ button to view the allotment status.

KFin Technologies

1. Visit the KFin Technologies IPO status portal.

2. From the ‘Select IPO’ dropdown menu, choose ‘Turtlemint Fintech Solutions’.

3. Enter either your PAN, IPO application number, or Demat account number.

4. Click ‘Submit’ to view your application status.

Turtlemint Fintech Solutions IPO details

The IPO garnered an overall subscription of 1.20 times, receiving bids for 3.95 crore shares against the 3.29 crore shares available for subscription, as per BSE data.

The qualified institutional buyers (QIB) segment was subscribed 1.59 times, while the retail investors’ quota saw a subscription of 1.07 times. The non-institutional investor (NII) portion attracted a comparatively lower subscription of 0.52 times.

The ₹882.67-crore public issue comprised a fresh issue of equity shares worth ₹660.72 crore and an offer-for-sale (OFS) component amounting to ₹221.95 crore.

The IPO was priced in the range of ₹144– ₹152 per share, with retail investors required to apply for a minimum lot of 98 shares.

Promoters Anand Rohidas Prabhudesai and Dhirendra Nalin Mahyavanshi, along with existing shareholders Peak XV Partners Investments V, Vistra ITCL (India) Ltd (acting as Trustee of Blume Ventures Fund IX), and Kunal Shah, divested part of their holdings through the OFS.

ICICI Securities Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.

Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.