Turtlemint IPO Day 2: Issue subscribed 48% so far. Check GMP, subscription status, review. Apply or not?

Turtlemint Fintech Solutions IPO was subscribed 48 percent on Day 2 of bidding, with the issue priced at ₹144 to ₹152 per share, valuing the insurtech firm at over ₹4,500 crore at the upper end. The company raised ₹397.20 crore from 32 anchor investors ahead of the issue, with participation from ICICI Prudential MF, Mirae Asset MF, Amansa Holdings, BNP Paribas, Edelweiss MF, Bajaj Life Insurance, and Societe Generale. Grey market premium stood at a modest +1.5, indicating an estimated listing price of about ₹153.5, while brokerages offered mixed reviews, with SMIFS recommending a Subscribe for long-term investors citing the company's large advisor network and B30+ market reach.