Turtlemint Fintech Solutions Limited
Turtlemint Fintech Solutions Limited‘s Initial Public Offer to open on Friday, June, 19, 2026
Price Band has been fixed at ₹ 144 to ₹ 152 per Equity Share
The floor price is 144 times and the cap price is 152 times of the face value
( ₹ 1 per share ) of the Equity Shares
Bid / Offer Opening Date is Friday, June 19, 2026 and Bid/Offer Closing Date is Tuesday, June 23, 2026.
The Anchor Investor Bidding Date shall be on Thursday, June, 18 ,2026
Bids can be made for a minimum of 98 Equity Shares and in multiples of 98 Equity Shares thereafter. (“Minimum Bid Lot”)
RHP link: https://www.icicisecurities.com/console/uploads/actual/TURTLEMINT-FINTECH-SOLUTIONS-LIMITED---RHP_1781540751_81.pdf
• Mr. Anand Rohidas Prabhudesai- Executive Director and Chief Operating Officer, Turtlemint Fintech Solutions Limited
• Mr. Dhirendra Nalin Mahyavanshi - Chairperson and Managing Director and Chief Executive Officer, Turtlemint Fintech Solutions Limited
National, June 16, 2026 : Turtlemint Fintech Solutions Limited (The “Company “) shall open the Bid/Offer in relation to its initial public offer of Equity Shares on June 19, 2026
The Price Band of the Offer has been fixed at ₹ 144 to ₹ 152 per Equity Share. (“Price Band”).
Bids can be made for a minimum of 98 Equity Shares and in multiples of 98 Equity Shares thereafter.
The initial public offer of Equity Shares of face value of ₹ 1 per share comprises of a fresh issue of Equity Shares of up to ₹ 6,607.22 million (₹ 660.72 crores) and an offer for sale of up to 14,601,846 Equity Shares of face value of ₹ 1 each.
The anchor investor bidding date shall be Thursday, June 18, 2026. The Bid/Offer shall open on Friday, June 19, 2026 and close on Tuesday, June 23, 2026.
The Equity Shares are proposed to be listed on the Stock Exchanges, being BSE Limited (“BSE”) and National Stock Exchange of India Limited (“NSE”, and together with the BSE, the “Stock Exchanges”). For the purposes of the Offer, the Designated Stock Exchange shall be NSE.
ICICI Securities Limited, Jefferies India Private Limited, JM Financial Limited and Motilal Oswal Investment Advisors Limited are the book running lead managers to the Offer (“BRLMs”).
All capitalised terms used but not defined herein, shall have the same meaning as ascribed to them in the Red Herring Prospectus.
• Ms. Sonia Dasgupta, Managing Director & Chief Executive Officer- Investment Banking - JM Financial Limited
• Mr. Gautam Benjamin, Executive Vice President & Head of Technology- ICICI Securities Limited
• Mr. Anand Rohidas Prabhudesai- Executive Director and Chief Operating Officer, Turtlemint Fintech Solutions Limited
• Mr. Dhirendra Nalin Mahyavanshi - Chairperson and Managing Director and Chief Executive Officer, Turtlemint Fintech Solutions Limited
• Mr. Badrinarayan Sanjeevi - Chief Financial Officer and Head of Human Resource, Turtlemint Fintech Solutions Limited
• Mr. Aman Puri, Managing Director & Head of FIG, FinTech and Real Estate Investment Banking - Jefferies India Private Limited
• Mr. Jignesh Panchal, Managing Director - Motilal Oswal Financial Services Limited
The Offer is being made in terms of Rule 19(2)(b) of the SCRR read with Regulation 31 of the SEBI ICDR Regulations. The Offer is being made through the Book Building Process, in compliance with Regulation 6(2) of the SEBI ICDR Regulations, wherein in terms of Regulation 32(2) of the SEBI ICDR Regulations, at least 75% of the Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIBs” and such portion the “QIB Portion”), provided that our Company in consultation with the Book Running Lead Managers, may allocate up to 60% of the QIB Portion to Anchor Investors, on a discretionary basis in accordance with the SEBI ICDR Regulations (the “Anchor Investor Portion”), and 40% of such Anchor Investor Portion shall be reserved as under: (i) 33.33% for domestic Mutual Funds, and (ii) 6.67% for Life Insurance Companies and Pension Funds, subject to valid Bids being received from the domestic Mutual Funds, Life Insurance Companies and Pension Funds at or above the price at which allocation is made to Anchor Investors. In the event of under-subscription or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the QIB Portion (excluding the Anchor Investor Portion) (“Net QIB Portion”).
Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIBs (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Offer Price. If at least 75% of the Offer cannot be Allotted to QIBs, then the entire application money will be refunded forthwith. Further, not more than 15% of the Offer shall be available for allocation to non-institutional investors (“Non-Institutional Investors” or “NIIs”) (the “Non-Institutional Portion”) of which one-third of the Non-Institutional Portion shall be available for allocation to Bidders with an application size of more than ₹0.2 million and up to ₹1 million and two-thirds of the Non-Institutional Portion shall be available for allocation to Bidders with an application size of more than ₹1 million and under-subscription in either of these two sub-categories of Non-Institutional Portion may be allocated to Bidders in the other sub-category of Non-Institutional Portion in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price. The allocation to each Non-Institutional Investor shall not be less than the minimum application size, subject to availability of Equity Shares in the Non-Institutional Portion and the remaining available Equity Shares, if any, shall be allocated on a proportionate basis in accordance with the conditions specified in this regard in Schedule XIII of the SEBI ICDR Regulations. Further, not more than 10% of the Offer shall be available for allocation to retail individual investors (“Retail Individual Investors” or “RIIs”) (the “Retail Portion”) in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price.
All Bidders (other than Anchor Investors) shall mandatorily participate in this Offer through the Application Supported by Block Amount (“ASBA”) process and shall provide details of their respective bank account (including UPI ID for UPI Bidders) in which the Bid Amount will be blocked by the SCSBs or the Sponsor Bank(s), as the case may be. Anchor Investors are not permitted to participate in the Offer through the ASBA process.
Disclaimer:
DISCLAIMER CLAUSE OF SEBI: SEBI only gives its observations on the offer documents and this does not constitute approval of either the Offer or the specified securities stated in the Offer Documents. The investors are advised to refer to page 611 of the RHP for the full text of the disclaimer clause of SEBI.
DISCLAIMER CLAUSE OF BSE: It is to be distinctly understood that the permission given by BSE Limited should not in any way be deemed or construed that the RHP has been cleared or approved by BSE Limited nor does it certify the correctness or completeness of any of the contents of the RHP. The investors are advised to refer to the page 615 of the RHP for the full text of the disclaimer clause of BSE
DISCLAIMER CLAUSE OF NSE (The Designated Stock Exchange): It is to be distinctly understood that the permission given by NSE should not in any way be deemed or construed that the Offer Document has been cleared or approved by NSE nor does it certify the correctness or completeness of any of the contents of the Offer Document. The investors are advised to refer to page 615 of the RHP for the full text of the disclaimer clause of NSE.
TURTLEMINT FINTECH SOLUTIONS LIMITED (formerly known as Turtlemint Fintech Solutions Private Limited, prior to which it was known as Fintech Blue Solutions Private Limited) is proposing, subject to applicable statutory and regulatory requirements, receipt of requisite approvals, market conditions and other considerations, to make an initial public offering of its Equity Shares and has filed the RHP with RoC and the Stock Exchanges on June 15, 2026. The RHP is available on the website of SEBI at www.sebi.gov.in, as well as on the websites of the Stock Exchanges i.e. BSE and NSE at www.bseindia.com and www.nseindia.com, respectively, on the website of the Company at www.turtlemint.com and on the websites of the BRLMs, i.e. ICICI Securities Limited, Jefferies India Private Limited, JM Financial Limited and Motilal Oswal Investment Advisors Limited at www.icicisecurities.com, www.jefferies.com, www.jmfl.com and www.motilaloswal.com, respectively. Any potential Bidders should note that investment in equity shares involves a high degree of risk and for details relating to such risk, see “Risk Factors” beginning on page 22 of the RHP. Potential Bidders should not rely on the UDRHP-I filed with SEBI and the Stock Exchanges for making any investment decision and should instead rely on the information contained in the RHP, when filed, for making an investment decision.
This public announcement is not an offer for sale of the Equity Shares in the United States. The offer and sale of the Equity Shares in the Offer have not been and will not be registered under the U.S. Securities Act of 1933 (the “U.S. Securities Act”) or any other applicable law of the United States and, unless so registered, may not be offered or sold within the U.S. except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable state securities laws. Accordingly, the Equity Shares are being offered and sold outside of the U.S in offshore transactions as defined in and in compliance with Regulation S under the U.S. Securities Act and the applicable laws of the jurisdiction where those offers and sales are made. There will be no public offering of the Equity Shares in the United States.
