The initial response to Turtlemint Fintech Solutions’ IPO has been cautious, with the issue receiving a 2% subscription in the first hour of bidding on the opening day. Retail investors, however, showed relatively stronger participation, subscribing to 10% of their reserved portion.
The IPO of the insurance distribution platform opened for subscription today and will remain open until June 23. Ahead of the listing, Turtlemint’s shares were trading at a grey market premium (GMP) of around 2%, indicating expectations of a muted listing performance.
