Incorporated in 2015, Turtlemint Limited is a technology-enabled insurance distribution platform that connects customers, insurance advisors (Digital Partners), and insurers through a phygital (physical + digital) model. The company was among the first to adopt the Point-of-Sale Person (PoSP) distribution model and has built India’s largest certified PoSP network among its peer group.
| 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 | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | 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 |
| KPI | Dec 31, 2025 | Mar 31, 2025 |
|---|---|---|
| ROE | -95.18% | |
| ROCE | -59.09% | |
| Debt/Equity | 0.15 | |
| RoNW | -63.38% | -47.29% |
| EBITDA Margin | 11.01% | 12.44% |
| Price to Book Value | 2.77 | 0.02 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | -7.73 | |
| P/E (x) | -19.66 |
| IPO Date | 19 to 23 Jun, 2026 |
| Listing Date | Mon, Jun 29, 2026 |
| Face Value | ₹1 per share |
| Price Band | ₹144 to ₹152 |
| Lot Size | 98 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 5,80,70,398 shares (agg. up to ₹883 Cr) |
| Fresh Issue | 4,34,68,552 shares (agg. up to ₹661 Cr) |
| Offer for Sale | 1,46,01,846 shares of ₹1 (agg. up to ₹222 Cr) |
| Share Holding Pre Issue | 25,10,10,354 shares |
Anand Rohidas Prabhudesai and Dhirendra Nalin Mahyavanshi.
| Share Holding Pre Issue | 17.05% |
| Share Holding Post Issue | 13.10% |
As per our analysis and Based on the information we have, this is the output.
Allah knows best.
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