Shardul Amarchand Mangaldas & Co. (“SAM”) acted as the legal counsel to Turtlemint Fintech Solutions Limited (“Turtlemint”) and the Investor Selling Shareholders in Turtlemint’s ₹ 8,826.70 million (approximately USD 93.51 million) initial public offering (“IPO”).

The IPO comprised a fresh issue of 43,468,552 equity shares aggregating to ₹6,607.22 million and an offer for sale of 14,601,846 equity shares aggregating to ₹2,219.48 million by certain shareholders including the Investor Selling Shareholders, i.e., Nexus Ventures IV, Ltd., Peak XV Partners Investments V, Blume Ventures Fund 1X, Blume Ventures (Opportunities) Fund IIA, GGV VII Investments Pte. Ltd. (Notable Capital), Dream Incubator Inc. and Humming Bird Investment Holdings SPV.

The equity shares were listed on the stock exchanges on June 29, 2026.

Turtlemint is a tech-enabled insurance distribution platform that connects customers, insurance advisors and insurers. In 2015, Turtlemint became the first to adopt the point-of-sale person distribution model and also has the largest certified PoSP network among the peer group as of March 31, 2025, as well as December 31, 2025.

The transaction team advising the Company was led by Nikhil Naredi, Partner, and Krupa Brahmbhatt, Partner, with support from Anoushka P.V., Senior Associate, and Dhanashree Singe, Associate.

The Investor Selling Shareholders were advised by Manjari Tyagi, Partner; Tarun Srikanth, Principal Associate; Jheel Bhargava, Senior Associate; and Bhumika Panigrahi, Associate.