Turtlemint Fintech Solutions' public issue managed to attract modest investor interest, with the IPO closing at 1.2 times subscription on June 23, the final day of the bidding process.
The offering drew applications for 3.95 lakh shares, compared with the 3.29 lakh shares available for subscription.
Institutional investors led demand, with the Qualified Institutional Buyers (QIB) segment subscribed 1.59 times. Retail participation remained steady at 1.07 times, while the Non-Institutional Investor (NII) segment remained undersubscribed at 0.52 times.
Turtlemint Fintech Solutions launched its Rs 882.67-crore IPO with a price band of Rs 144 to Rs 152 a share. The offering combined a fresh issue of 4.35 crore shares, raising Rs 660.72 crore, with an offer-for-sale of 1.46 crore shares worth Rs 221.95 crore.
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Turtlemint Fintech Solutions is expected to finalise the share allotment process on June 24. Refunds to unsuccessful bidders are scheduled to begin on June 25, with shares being credited to the accounts of successful applicants on the same date.
The company's shares are expected to commence trading on both the BSE and NSE on June 29. The company runs a phygital (physical + digital) network connecting customers, insurance companies, local agents and financial advisors.
It will use the IPO proceeds to invest in its subsidiary and for general corporate purposes. Investors who participated in the IPO can check the allotment status on the websites of BSE, NSE and the issue registrar, KFin Technologies.
Steps To Check Turtlemint Fintech Solutions IPO Allotment Status On BSE
- Visit the BSE IPO allotment page here.
- Choose the issue type as “Equity”.
- Select “Turtlemint Fintech Solutions Ltd.” from the dropdown menu.
- Enter your application number or PAN (Permanent Account Number).
- Complete the Captcha for verification.
- Click on the “Search” button to check your allotment status.
Steps To Check Turtlemint Fintech Solutions IPO Allotment Status On NSE
- Visit the IPO allotment page on the NSE website here.
- Select “Equity & SME IPO bid details”.
- Pick the company symbol from the dropdown list.
- Enter your PAN and Application Number.
- Click “Submit” to check your share allotment status.
Steps to Check Turtlemint Fintech Solutions IPO Allotment Status On KFin Technologies
- Visit the KFinTech IPO allotment page here.
- From the dropdown menu, choose “Turtlemint Fintech Solutions Ltd.” as the IPO name.
- Select one of the available identification options – PAN number, Application number or DP ID/client ID.
- Enter the details based on the option you selected.
- Click on the “Submit” button.
- Your IPO allotment status will be displayed on the screen.
Turtlemint Fintech Solutions IPO GMP Today
According to InvestorGain, the GMP for the Turtlemint Fintech Solutions IPO was nil as of 11:33 a.m. on June 24. It indicates a flat listing for the offer.
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Note: GMP does not represent official data and is based on speculation.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.
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