Upcoming IPO: Turtlemint Fintech Solutions Files DRHP with SEBI

Turtlemint Fintech Solutions has submitted its Draft Red Herring Prospectus (DRHP) to the Securities and Exchange Board of India (SEBI) and the relevant stock exchange, as per news reports. This move marks a significant step toward the company's planned initial public offering (IPO).

Turtlemint’s IPO filing aligns with a broader trend among Indian startups and fintech firms opting for the pre-filing route with SEBI. Other companies that have recently taken this approach include Tata Capital, Shadowfax, PhysicsWallah, Shiprocket, and Swiggy.

About Turtlemint Fintech Solutions

Founded in 2015 by Dhirendra Mahyavanshi and Anand Prabhudesai, Turtlemint was launched with the vision of leveraging the growing penetration of smartphones and internet connectivity to make insurance more accessible to the Indian masses.

The company operates as a tech-enabled platform that connects customers, insurance advisors, and insurance companies, facilitating the distribution of health, life, and motor insurance products. Beyond insurance, the platform also offers access to a range of financial services, including mutual funds and personal loans.

Backed by prominent private equity investors such as Peak XV Partners, Nexus Venture Partners, Amansa Capital, and Jungle Ventures, Turtlemint has experienced significant growth over the years.

Also Read: Upcoming IPOs This Week: 3 Mainboard IPO and 7 SME IPO Set to Occupied D-Street

Between FY2023 and FY2025, the platform enabled the distribution of more than 1.6 crore insurance policies across 19,105 pin codes in India. Its network includes over 430,000 trained insurance advisors and 400,000+ point-of-sale personnel, and it has established partnerships with more than 42 insurance providers.

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