Turtlemint Fintech Invests ₹149.5 Cr in Subsidiary via Rights Issue

Turtlemint Fintech Solutions Limited has approved an investment of up to ₹149.51 Crore in its wholly-owned subsidiary, Turtlemint Insurance Broking Services Private Limited (TIB), through a rights issue. The investment will be made by subscribing to 8,41,715 equity shares at ₹1,776.27 per share. This infusion will increase TIB's paid-up capital to ₹1.68 Crore. For the financial year ended March 31, 2026, TIB reported a turnover of ₹10,721.99 Million and a net worth of ₹1,758.63 Million. The investment does not alter Turtlemint Fintech's shareholding percentage in TIB as it remains a wholly-owned subsidiary. Key management personnel hold directorships in TIB.