Turtlemint Fintech Solutions’ ₹882.67 crore initial public offering (IPO) is set to close for subscription on June 23, with grey market sentiment remaining weak. The IPO is priced in the range of ₹144-₹152 per share and comprises a fresh issue worth ₹660.72 crore along with an offer for sale (OFS) of ₹221.95 crore.
The grey market premium (GMP) has slipped to ₹1 from ₹3 on the opening day, indicating an estimated listing price of ₹153 and a potential gain of just 0.66% over the upper price band.
Investors can bid for a minimum lot of 98 shares, requiring an investment of ₹14,896 at the upper price band. The share allotment is expected on June 24, while the stock is scheduled to debut on the NSE and BSE on June 29.
ICICI Securities is the book-running lead manager to the issue, while Kfin Technologies is acting as the registrar.
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