Juniper Green Energy IPO: Issue Details, Renewable Portfolio and Listing Performance
Juniper Green Energy IPO opens on July 30 with a price band of ₹214-₹225 per share. Here's the latest GMP, subscription timeline, lot size, financials, and key details investors should know.
Juniper Green Energy IPO: The ₹1,800 crore issue, entirely a fresh issue of 8 crore shares, was open from 30 July to 3 August 2026 at ₹214 to ₹225 per share. Allotment was finalised on 4 August, and the stock listed on the NSE at ₹245 on 6 August 2026, an 8.88% premium to the upper band.
Juniper Green Energy IPO: Incorporated in 2011, Juniper Green Energy is one of India's leading renewable energy independent power producers (IPPs). Juniper Green builds, operates, and maintains utility-scale renewable energy projects across solar, wind, hybrid, and battery energy storage segments.
The company is launching ₹1,800 crore IPO, which is entirely a fresh issue. Here are the key details of the IPO.
Juniper Green Energy IPO Details
Here are the key dates and issue details.
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Juniper Green Energy IPO is worth ₹1,800 crore and is entirely a fresh issue of 8 crore equity shares.
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The IPO opened for subscription on 30 July 2026 and closed on 3 August 2026. The price band was fixed between ₹214 and ₹225 per share.
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Allotment was finalised on 4 August 2026, and the shares listed on the BSE and NSE on 6 August 2026.
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The proceeds from the fresh issue were earmarked to repay borrowings (₹683.24 cr), fund subsidiaries for debt repayment (₹728.69 cr), and meet general corporate purposes.
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Kfin Technologies Ltd. is the registrar, while ICICI Securities Ltd. is the book-running lead manager.
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Parameter |
Detail |
|---|---|
|
IPO Open Date |
30 July 2026 |
|
IPO Close Date |
3 August 2026 |
|
Allotment Date |
4 August 2026 |
|
Listing Date |
6 August 2026 (BSE & NSE) |
|
Price Band |
₹214 - ₹225 per share |
|
Lot Size |
66 shares |
|
Minimum Investment |
₹14,850 |
|
Fresh Issue |
₹1,800 crore |
|
Offer for Sale (OFS) |
Nil |
|
Total Issue Size |
₹1,800 crore |
Juniper Green Energy IPO Listing Performance
Juniper Green Energy shares debuted on the NSE at ₹245 on 6 August 2026, an 8.88% premium to the upper price band of ₹225. The company's market capitalisation stood at around ₹13,819.27 crore at the time of listing. The grey market premium going into listing had been under 1%, so the actual debut was noticeably better than the grey market had signalled.
About Juniper Green Energy IPO
Juniper Green Energy was incorporated in 2011 and is one of India's leading renewable energy independent power producers (IPPs). The company develops, builds, operates, and maintains utility-scale renewable energy projects across solar, wind, Wind-Solar Hybrid (WSH), and Firm & Dispatchable Renewable Energy (FDRE) projects with Battery Energy Storage Systems (BESS).
The company generates revenue through long-term power purchase agreements with central and state government-backed entities, providing predictable cash flows. As of 30 June 2026, it had a renewable energy portfolio of 7,910.20 MW (10,247.06 MWp), including operational, under-construction, contracted, and awarded projects, making it one of the top 10 renewable energy IPPs in India by total installed and pipeline capacity.
Juniper Green Energy has integrated in-house Engineering, Procurement and Construction (EPC) and Operations & Maintenance (O&M) capabilities. As of 30 June 2026, the company employed 733 permanent professionals across the division
Strengths (from DRHP)
- 97.68% of the portfolio is backed by 25-year power purchase agreements (PPAs) with A-rated counterparties (SECI, NTPC, SJVN, NHPC, state discoms)
- High operational reliability — 99.40% grid availability, 99.16% plant availability
- Among the top 10 renewable IPPs in India by total capacity (7,910.20 MW)
- Strong revenue growth — Rs 391.55 cr (FY24) to Rs 718.93 cr (FY26), a 35.5% CAGR
Risk Factors (from DRHP)
- Customer concentration — over 86% of FY26 revenue from just two government-backed utility off-takers
- High leverage — total debt of Rs 12,920.54 crore, with over 95% at variable interest rates
- Premium valuation — P/E of 316.39x, well above listed peers (though EV/EBITDA of 36.63x is closer to the 27.02x peer average, reflecting the depreciation/interest load typical of young IPPs)
- Supplier concentration for critical equipment (solar modules, wind turbine generators)
Juniper Green Energy IPO Reservation
For Juniper Green Energy IPO, the allocation was divided among Qualified Institutional Buyers (QIBs), Non-Institutional Investors (NIIs), and Retail Individual Investors (RIIs).
|
Investor Category |
Shares Offered |
|---|---|
|
QIB Investors |
Not more than 50% |
|
Retail Investors |
Not less than 35% |
|
NII (HNI) Investors |
Not less than 15% |
Juniper Green Energy IPO Lot Size
Retail investors could apply for a minimum of 1 lot, comprising 66 shares, requiring an investment of ₹14,850. The maximum retail application was 13 lots.
|
Application |
Lots |
Shares |
Amount (₹) |
|---|---|---|---|
|
Retail (Min) |
1 |
66 |
14,850 |
|
Retail (Max) |
13 |
858 |
1,93,050 |
|
S-HNI (Min) |
14 |
924 |
2,07,900 |
|
S-HNI (Max) |
67 |
4,422 |
9,94,950 |
|
B-HNI (Min) |
68 |
4,488 |
10,09,800 |
Juniper Green Energy IPO Financial Performance
The company's total income increased to ₹804.93 crore from ₹569.78 crore in FY25, while Profit After Tax (PAT) also improved. EBITDA remained strong, reflecting the company's operational efficiency.
|
Particulars |
31 Mar 2026 |
31 Mar 2025 |
31 Mar 2024 |
|---|---|---|---|
|
Revenue from Operations (₹ Cr) |
718.93 |
508.69 |
391.55 |
|
Total Income (₹ Cr) |
804.93 |
569.78 |
424.45 |
|
EBITDA (₹ Cr) |
692.18 |
485.69 |
370.84 |
|
EBITDA Margin (%) |
85.99% |
85.24% |
87.37% |
|
PAT (₹ Cr) |
40.46 |
36.48 |
40.06 |
|
Net Debt/Equity (x) |
2.75x |
0.81x |
1.00x |
Source: Juniper Green Energy IPO RHP
Juniper Green Energy Peer Comparison
Among its peers, Juniper Green Energy has a low EPS; however, higher EPS is always considered good.
|
Company |
EPS Diluted |
PE |
|---|---|---|
|
Juniper Green Energy |
0.83 |
– |
|
Acme Solar Holdings |
8.16 |
47.21 |
|
NTPC Green Energy |
0.62 |
148.34 |
|
Adani Green Energy |
9.65 |
156.88 |
|
Renew Global Energy PLC |
27.24 |
22.25 |
Conclusion
Juniper Green Energy IPO was a ₹1,800 crore fresh issue from one of India's larger renewable energy independent power producers, with a portfolio spanning solar, wind, hybrid and battery-backed projects backed by long-term power purchase agreements and in-house EPC capability. The proceeds were earmarked for repaying borrowings (₹683.24 crore), funding subsidiaries' debt repayment (₹728.69 crore) and general corporate purposes. The shares listed at an 8.88% premium on 6 August 2026. From here, the stock's case rests on capacity additions, tariff visibility and how quickly the deleveraging shows up in earnings.
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