Turtlemint Fintech Solutions Ltd’s initial public offering is facing headwinds on its second day of bidding, with demand falling short of the full issue size.
The ₹883 crore public issue was subscribed 0.51 times as of 2:42 pm on June 22, indicating that less than half of the available shares have been bid for so far.
The subscription activity has been driven almost entirely by qualified institutional buyers (QIBs), who are stepping in to support the book.
In contrast, non-institutional investors (NIIs) have remained largely on the sidelines, showing little appetite for the fintech lender’s debut listing.
This divergence suggests that while professional investors see value in the offering, retail sentiment is cautious.
The IPO closes on June 23, leaving just one final day for bidding to pick up.