Turtlemint Fintech IPO Day 1: Retail portion subscribed 10%. Check GMP, brokerage calls and other details

Turtlemint Fintech's Rs 883 crore IPO opened for subscription with a price band of Rs 144-152 per share. On Day 1, the issue was subscribed 2 percent overall, with retail investors bidding 10 percent of their reserved portion while NIIs and QIBs had placed no bids as of 11 AM. Grey market premium stood at about 2 percent, signalling muted listing expectations at an estimated listing price of Rs 154, with brokerages giving mixed calls — SMIFS recommending Subscribe and Swastika Investmart suggesting Avoid. The company reported FY25 revenue of Rs 662.7 crore but remained loss-making with a net loss of Rs 194 crore.