Turtlemint IPO To Open On June 19, Price Band Set At ₹144-152

Insuretech company Turtlemint has filed its red herring prospectus (RHP) with the SEBI for an initial public offering (IPO) which will open for public subscription on June 19 (Friday) and subsequently close on June 23.

Anchor investments will take place on June 18. The price band for the IPO is set at ₹144-152. 

The company has retained the fresh issue size of the IPO at ₹660.7 Cr. However, the offer for sale component of the issue has been lowered by 49% to 1.46 Cr equity shares from 2.86 Cr shares outlined in the company’s UDRHP

At the upper end of the price band, the total size of the IPO stands at ₹883 Cr. 

Turtlemint investors Peak XV Partners, Blume Ventures, Nexus Ventures, CRED cofounder Kunal Shah, among others, will be selling parts of their holdings via the IPO. Additionally, Turtlemint cofounders Anand Rohidas Prabhudesai and Dhirendra Mahyavanshi will be partaking in the OFS component of the IPO.

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