India, June 29 -- Shares of insurtech startup Turtlemint made a weak debut on the bourses today, listing at Rs.134.90 on the NSE. This was a discount of 11.25% to the issue price of Rs.152.

The stock got listed at Rs.136.2 apiece on the BSE, a discount of 10.4% to the issue price.

Following the listing, the stock declined further and was trading at Rs.135.65 on the BSE at 10:01 IST. The company's market capitalisation stood at Rs.3,986 Cr (about $422.5 Mn) at the time.

Turtlemint had set a price band of Rs.144-Rs.152 for the public issue. Its IPO, which comprised a fresh issue of Rs.660.7 Cr and an offer-for-sale (OFS) component of up to 1.46 Cr shares, was oversubscribed 1.2X.

Peak XV partners, one of Turtlemint's biggest shareholder...