India, Dec. 16 -- Over three months after pre-filing its IPO papers, insurtech soonicorn Turtlemint has received regulatory approval from SEBI for its public issue.

The markets regulator issued its observation letter to Turtlemint, along with six other companies, in the week ended December 12. In SEBI parlance, the issuance of the observation letter translates to the regulator's nod for the company to proceed with its IPO.

Turtlemint confidentially filed its draft red herring prospectus (DRHP) with the regulator in September. While the size of the public issue would be clear after the startup files its updated DRHP, the issue is said to be in a range of $200 Mn to $250 Mn.

(The story will be updated soon)

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