After receiving the SEBI’s approval, the company is planning to file the UDRHP within the next 2 weeks. The document will be open for public feedback for 21 days. Based on the feedback, the company will make changes and then submit UDRHP-II, followed by the filing of the Red Herring Prospectus (RHP) for the IPO launch.
Turtlemint Fintech Solutions is one of the fastest-growing Indian insurtech and fintech companies, offering digital insurance and financial products.
Incorporated in 2015 by Dhirendra Mahyavanshi and Anand Pradhudesai, the firm helps customers with insurance products across motor, health, and life categories. The platform also provides access to other financial products, such as mutual funds and loans, enabling people to make informed financial decisions.
Turtlemint is growing its business services through its SaaS subsidiary, Turtlefin (Fintech Blue Solutions Pvt. Ltd.), which offers solutions to banks, NBFCs, and e-commerce companies.
In FY25, the company generated a revenue of ₹675 crore, a 33% rise in revenue. However, in FY25, the company reported a net loss of ₹47 crore.
PB Fintech (PolicyBazaar’s parent) and Go Digit General Insurance are some of the listed companies in the insurance space.
The book-running lead managers to the issue are ICICI Securities, Jefferies India, JM Financial, and Motilal Oswal Investment Advisors.
