Upcoming IPO: Turtlemint Fintech eyes ₹2,000 crore public offer; to file updated DRHP with SEBI in next 2 weeks

The company had filed its preliminary papers via the confidential route in September. It secured the regulator's approval in December to launch an IPO.

Post SEBI's approval, the company will file its updated draft red herring prospectus (UDRHP) in the next two weeks, which will be open for public comments for 21 days. After this, the firm is required to file UDRHP-II incorporating public comments and then the red herring prospectus (RHP) for the actual launch.

Turtlemint Fintech Solutions, which was founded by Dhirendra Mahyavanshi and Anand Prabhudesai in 2015, focuses on simplifying the purchase and management of insurance policies. It has sold about 1.6 crore policies through a network of over five lakh advisors.

The company claims to have processed more than 90 crore claims for over 1.2 crore customers. Its technology helps financial advisors instantly match customers with insurance products best suited to their needs, thereby improving efficiency and supporting business growth.

Turtlemint connects insurers, advisors and consumers on a unified technology platform and has forged long-term partnerships with over 40 insurer partners, accounting for nearly 65 per cent of all life and general insurers in India.

Upcoming IPOs

These firms had filed their DRHPs in the July-October period. They got SEBI's observations, which means the regulator's nod, between December 26 and January 2.