Juniper Green Energy IPO Opens Today: Should You Subscribe? Know Price, GMP, Recommendations

Juniper Green Energy IPO: The initial public offering (IPO) of Juniper Green Energy Ltd is going to open for public subscription today, July 30. The Rs 1,800-crore mainboard IPO will remain open for three days till August 3. Its price band has been fixed in the range of Rs 214 to Rs 225 per share.

Shares of Juniper Green Energy Ltd will be listed on both the BSE and the NSE on August 6.

Ahead of the public issue, Juniper Green Energy mobilised Rs 539.4 crore from anchor investors, including Abu Dhabi Investment Authority and Nippon India Mutual Fund. According to a circular uploaded on the BSE website on Wednesday, the company allotted 2.4 crore equity shares to 31 funds at Rs 225 apiece, the upper end of the price band. The anchor book saw participation

from a mix of domestic mutual funds, insurance companies, sovereign wealth funds and foreign investors.

Among the key anchor investors were ICICI Prudential Mutual Fund, SBI Mutual Fund, WhiteOak Capital, Bajaj Life Insurance, Tata AIG General Insurance Company and HDFC Life Insurance Company.

Juniper Green Energy IPO: Price Band & Lot Size

The company has fixed the price band in the range of Rs 214-225 per equity share. The lot size for an application is 66 shares. So, retail investors will require a minimum amount of Rs 14,850 (66 shares), based on upper price, to apply for the IPO.

Juniper Green Energy IPO GMP Today

According to market observers, unlisted shares of Juniper Green Energy were commanding a grey market premium (GMP) of around Rs 17 per share on Thursday.

Based on the upper price band of Rs 225, the GMP indicates a potential listing price of around Rs 242 per share, which is a 7.56 per cent listing gain. However, investors should note that the grey market is unofficial and GMP keeps changing based on investor sentiments.

Juniper Green Energy IPO: Should You Apply?

Brokerages have largely maintained a positive view on the IPO, citing the company’s strong renewable energy pipeline, improving financials, and long-term growth prospects.

SBI Securities has assigned a ‘Subscribe’ rating for long-term investors. The brokerage highlighted Juniper Green Energy’s strong presence in wind-solar hybrid (WSH) and firm and dispatchable renewable energy (FDRE) projects. It noted that the company posted a revenue, EBITDA and PAT CAGR of 35.5%, 33.9% and 0.5%, respectively, during FY24-FY26. SBI Securities believes future growth will be driven by the commissioning of under-construction projects, expansion in battery energy storage systems (BESS), and merchant power opportunities.

“Assuming average tariff of Rs 3.64/kWh, the total 7,910 MW capacity when operational is expected to deliver revenue potential of ~Rs 6,000-6,500 crore. Hence, considering JGEL’s robust growth prospects, we recommend investors to SUBSCRIBE to the issue for Long Term investment horizon,” according to the brokerage report.

Another brokerage firm Ventura has also recommended a ‘Subscribe’ rating, highlighting the company’s diversified renewable energy portfolio across solar, wind, hybrid and BESS projects. The brokerage said Juniper Green Energy generated Rs 718.9 crore in revenue from operations and Rs 40.5 crore in net profit in FY26. It believes the company’s long-term power purchase agreements (PPAs), integrated project development capabilities and scalable SPV-based business model support its growth outlook.

Highlighting risks, Ventura said, “Key risks include high leverage and finance costs, dependence on timely project execution and commissioning, counterparty exposure to government utilities and DISCOMs, and regulatory or policy changes affecting the renewable energy sector.”

Juniper Green Energy IPO: Key Details

The Rs 1,800 crore IPO comprises an entirely fresh issue of equity shares. At the time of filing its draft papers with Sebi, the company had proposed to raise up to Rs 3,000 crore through the public issue.

Of the IPO proceeds, the company will use Rs 683.24 crore to repay or prepay some of its borrowings. It will also invest Rs 728.69 crore in its subsidiaries– Juniper Green Gamma One, Juniper Green Kite, and Juniper Green Power Five– to help them repay or prepay their outstanding loans. The remaining funds will be used for general corporate purposes.

Juniper Green Energy develops, builds and operates utility-scale solar, wind, hybrid and battery energy storage projects across India.

Backed by Singapore-based AT Capital Group, the company has been expanding its renewable energy portfolio, including commissioning India’s first merchant 100 MWh Battery Energy Storage System (BESS) project in Rajasthan and beginning phased commissioning of an integrated Firm and Dispatchable Renewable Energy (FDRE) project combining solar, wind and battery storage.

The Gurugram-based company has an integrated platform spanning project development, engineering, procurement, construction and operations, and is focused on expanding its presence in renewable energy and energy storage solutions.

The issue has reserved 50 per cent for Qualified Institutional Buyers (QIBs), 15 per cent for Non-Institutional Investors (NIIs), and 35 per cent for retail investors. Equity shares aggregating up to Rs 2 crore have been reserved for eligible employees, who will receive a discount of Rs 21 per share.

ICICI Securities, HSBC Securities, JM Financial and Kotak Mahindra Capital are the book-running lead managers to the issue, while KFin Technologies is the registrar.