Chandigarh, June 20: Turtlemint Fintech Solutions Limited has successfully finalised the allocation of 2,61,31,680 Equity Shares to 32 Anchor Investors, raising ₹397.20 crore at the upper price band of ₹152 per Equity Share (including a share premium of ₹151 per Equity Share). The Equity Shares have a face value of ₹1 each.
The anchor allocation marks a strong institutional participation ahead of the Company’s proposed Initial Public Offering (IPO), with participation from leading domestic and global investors including mutual funds, insurance companies, foreign portfolio investors, and other institutional investors.
Out of the total allocation to Anchor Investors, 1,11,06,668 Equity Shares (42.50% of the Anchor Investor portion) were allocated to 7 domestic mutual funds through 12 schemes. Further, 35,72,492 Equity Shares (13.67% of the Anchor Investor portion) were allocated to 3 life insurance companies, reflecting strong institutional confidence in the Company’s growth prospects.
Key anchor investors included leading institutions such as ICICI Prudential Equity & Debt Fund, Mirae Asset Multicap Fund, Mirae Asset Aggressive Hybrid Fund, Edelweiss Recently Listed IPO Fund, BNP Paribas Financial Markets – ODI, Susquehanna Pacific Pty Ltd, Société Générale – ODI, Nomura Singapore Limited, Citigroup Global Markets Mauritius Private Limited, and other prominent investors.
The anchor allocation was completed at the upper price band of ₹152 per Equity Share, aggregating to a total amount of ₹397,20,15,360.
The participation from a diversified set of institutional investors highlights the market’s confidence in Turtlemint’s technology-led insurance distribution platform and its role in transforming the insurance ecosystem through digital solutions.
