Mumbai: Insurtech firm Turtlemint Fintech Solutions Ltd is gearing up to launch a Rs 2,000 crore initial public offering (IPO) between March and April 2026. The company is expected to file its updated draft papers with markets regulator Sebi within the next two weeks, a key step in the IPO process, sources familiar with the matter said.
Turtlemint had initially filed its preliminary IPO papers confidentially in September 2025 and received Sebi’s approval in December 2025 to proceed with the public issue. Following this, the company will file the updated draft red herring prospectus (UDRHP), which will be open for public comments for 21 days. After considering the feedback, the firm will file UDRHP-II and then the red herring prospectus (RHP) for the actual IPO launch.
Company Background and Growth
Founded in 2015 by Dhirendra Mahyavanshi and Anand Prabhudesai, Turtlemint focuses on simplifying the purchase and management of insurance policies for consumers and advisors. The platform has sold around 1.6 crore insurance policies through a network of more than five lakh financial advisors.
The company claims to have processed over 90 crore insurance claims for more than 1.2 crore customers. Its technology helps advisors quickly match customers with the most suitable insurance products, increasing efficiency and supporting business growth.
Investors and Partnerships
Turtlemint counts Amansa Capital, Jungle Ventures, and Nexus Venture Partners among its key investors. The platform connects insurers, advisors, and customers in one system and has partnerships with over 40 insurers, covering nearly 65% of all life and general insurers in India.
The upcoming IPO reflects the growing interest in the insurtech sector in India. The listing will follow examples such as PB Fintech, which operates Policybazaar and Paisabazaar, and raised Rs 5,710 crore through its IPO in November 2021.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Stock market investments are subject to risks. Please consult a qualified financial advisor before investing.
