Turtlemint Fintech Solutions share price traded higher after making a weak debut in the Indian stock market on Monday. Turtlemint Fintech Solutions IPO listing date was today, June 29, and the stock has been listed on BSE and NSE.
Turtlemint Fintech Solutions shares were listed at ₹136.20 apiece on the BSE, a discount of 10.39% to its issue price of ₹152.00 per share. On NSE, the stock was listed with a discount of 11.25% at ₹134.90 per share.
However, after the debut, Turtlemint Fintech share price gained some buying momentum and rose over 7% from its listing price to ₹144.95 apiece on the NSE.
Turtlemint Fintech Solutions IPO listing was weaker than the Street estimates, as indicated in the grey market premium (GMP). Ahead of the debut, Turtlemint Fintech IPO GMP today was ₹-5 apiece, signalling a listing with more than 3% discount.
Should you buy, sell or hold Turtlemint Fintech shares after listing?
Turtlemint Fintech Solutions shares had a disappointing market debut, reflecting muted investor sentiment and the modest 1.2x subscription received during the IPO.
“Turtlemint Fintech Solutions’ fundamentals remain challenging, as the company remains loss-making with a negative RoNW of -47.29%, while its valuation of nearly 6.8x FY25 revenue appears expensive despite continued losses. Revenue visibility also remains uncertain, with FY24 witnessing an 81% YoY decline, and profitability largely depends on achieving scale as Digital Partner costs account for 70–77% of total expenses,” said Shivani Nyati, Head of Wealth at Swastika Investmart Ltd.
According to her, Turtlemint Fintech shares may suit only long-term, high-risk investors betting on market leadership, while she advises short-term investors to remain cautious.
“Investors who have received allotment may consider holding from a long-term perspective with a stop loss at ₹128, while fresh investors should wait for better price stability before taking exposure,” said Nyati.
At 11:40 AM, Turtlemint Fintech Solutions share price was trading at ₹138.00 apiece on the BSE, up 1.32% from its listing price, and down 9.21% from its issue price.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
