The Turtlemint Fintech Solutions IPO, valued at over ₹4,500 crore at the upper end of its price band, was subscribed 49% on its second day of public bidding, June 22. The IPO opened on June 19 and will close on June 23, with shares priced between ₹144 and ₹152 each, according to livemint.com.
The IPO has attracted significant interest from institutional investors since its launch. On the first day, the issue was subscribed around 45%, with demand increasing to 49% by the second day. The company is set to debut on the stock market on June 29, as disclosed by livemint.com. The subscription progress reflects cautious investor sentiment amid concerns over the company’s profitability and valuation.
Turtlemint’s IPO is one of the notable insurtech listings in the Indian market this year, joining a wave of fintech companies seeking public capital. The valuation above ₹4,500 crore places it among mid-sized tech IPOs, with investors weighing growth potential against profitability challenges. The subscription rate so far signals moderate demand compared to other recent fintech offerings, as reported by livemint.com.
The IPO subscription window closes on June 23, with the company scheduled to list on June 29. Market participants will closely watch the final subscription figures and the listing debut to assess investor appetite for insurtech stocks in the current market environment, according to livemint.com.