Turtlemint Fintech IPO Day 2: Issue subscribed 47%; Check GMP and other key details

Turtlemint Fintech IPO was subscribed 47% on Day 2, with QIBs leading at 73% while retail investors bid 39% and NIIs just 2%. The total issue size is around Rs 883 crore at a price band of Rs 144-152, with grey market premium of about 1% suggesting a flat-to-muted listing near Rs 153. Brokerages remain divided, with SMIFS recommending Subscribe citing the company leadership in PoSP distribution, while Swastika Investmart advised Avoid; FY25 revenue stood at Rs 662.7 crore against a net loss of Rs 194 crore.