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fintech/news//Outlook Business
Insurtech firm Turtlemint Fintech Solutions Ltd has filed updated draft papers with markets regulator Sebi to launch its initial public offering.
Turtlemint's IPO is sized at ₹2,000 crore, with ₹660.7 crore as a fresh equity issue.
KEY POINTS
IPO proceeds will support cloud and server infrastructure, team salaries, marketing, and inorganic acquisitions.
Part of the funds will pay property leases and provide working capital for its subsidiary, TIB.
The updated draft red herring prospectus will be open for public comment for 21 days.