Peak XV-backed Turtlemint gets SEBI approval for IPO
18 Dec 2025, 01:10 PMMeanwhile, fintech companies, Pine Labs and Groww, have already made their public market debut this year.
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Insurtech startup Turtlemint has secured approval from the Securities and Exchange Board of India (SEBI) for its initial public offering (IPO).
Turtlemint, which is backed by venture capital firms such as Peak XV Partners and Nexus Venture Partners, had filed its draft red herring prospectus (DRHP) with the SEBI through the confidential route in September this year.
The public offering is estimated to be in the range of $200 million to $250 million.
The startup, founded by Dhirendra Mahyavanshi and Anand Prabhudesai, had last raised funding of $120 million in its Series E round led by Amansa Capital, Jungle Ventures and Nexus Venture Partners in 2022.
Turtlemint, which operates in the insurance technology space, joins a growing list of new-age companies that have received regulatory clearance for public listings this year.
Meanwhile, fintech companies Pine Labs and Groww have already made their public market debut this year. Another fintech major PhonePe has also filed draft papers for its IPO through the confidential route.
New age insurtech companies that have previously gone public are PB Fintech, parent of Policybazaar, and Go Digit.
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