Turtlemint Fintech Solutions IPO hits market valued above ₹4,500 cr
Business
Turtlemint Fintech Solutions just hit the stock market. The IPO was moderately popular, getting subscribed 1.2 times and valuing the company at over ₹4,500 crore.
Nearly ₹400 cr from anchor investors
Before listing, Turtlemint raised nearly ₹400 crore from anchor investors as part of its total ₹883 crore IPO.
While big institutional investors showed the most interest, retail participation was decent too.
The company says it will use the fresh funds to boost its tech infrastructure, support its team, and keep building out its digital insurance platform that helps people compare and buy policies online.