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.
If you find this result mistaken or questionable, let us know via email at info (@) halalstock.in
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