India, June 27 -- Shares of insurtech company Turtlemint are set to list on the bourses on Monday (June 29) after its IPO was oversubscribed 1.2X. Several early investors in the company booked sizable gains by selling part of their holdings in the public issue.

Peak XV partners, one of Turtlemint's biggest shareholders, raked in Rs.66.2 Cr by offloading 43.56 Lakh shares via the OFS at the issue price of Rs.152 per share. This translated to a 7.2X return on the initial investment. Post the sale, Peak XV owns 4.84 Cr shares of Turtlemint worth Rs.736.5 Cr at Rs.152 per share.

Turtlemint had set a price band of Rs.144-Rs.152 for the IPO. It's public issue comprised a fresh issue of shares worth Rs.660.7 Cr and an offer for sale (OFS) of u...