Renewable energy company Juniper Green Energy announced on Friday that it will open its ₹1,800-crore initial public offering for public subscription on July 30, with the issue closing on August 3. According to reports from The Hindu BusinessLine, Moneycontrol, The Financial Express, CNBC TV18, Business Standard, and The Economic Times, the IPO is entirely a fresh issue of equity shares with no offer-for-sale (OFS) component. The company has now fixed the price band at ₹214-₹225 per equity share, with anchor investor bidding opening on July 29. The IPO allotment will be finalized on August 4, with credit to demat accounts on August 5, and listing scheduled for August 6. At the upper price band, the company's market capitalisation is estimated at around ₹12,800 crore post issue. The investment bankers for the IPO are ICICI Securities, HSBC Securities and Capital Markets (India), JM Financial, and Kotak Mahindra Capital Company, while KFin Technologies is the registrar. Bids can be made for a minimum of 66 equity shares and in multiples thereafter, with a discount of ₹21 per equity share being offered to eligible employees.
According to CNBC TV18 and Business Standard, Juniper Green Energy has positioned itself strategically with an 83% mix of wind, solar, wind-solar hybrid (WSH), and firm & dispatchable renewable energy (FDRE), while maintaining only 17% of plain vanilla solar projects. As Chairman and Founder Arvind Tiku explained, this diversified approach allows the company to secure better tariffs and maintain a payment cycle of just 21 days. The company expects its operational capacity to increase from around 2.4 GW currently to 6 GW by the end of FY28, with a target of 10 GW by FY30 as more contracted projects are commissioned. As of June 2026, the company's operational renewable energy capacity stood at 2,409 MW-peak (MWp), while battery energy storage system (BESS) capacity stood at 503 MW-hours (MWh). Including projects under construction, its total portfolio stands at 10,247 MWp, with a BESS portfolio of 4,564 MWh. The company has secured grid connectivity for all under-construction projects, with a surplus of 1,688 MW, and maintains a land bank of 12,000 acres and over 300 wind turbine generator (WTG) locations for under-construction projects.
The latest grey market premium (GMP) data shows ₹17, indicating a potential listing gain of over 7% against the upper price band of ₹225. This translates to an estimated premium of 7.56%, though grey market premiums are unofficial and can change rapidly before listing. The GMP suggests strong investor interest in the renewable energy sector, with the company's diversified portfolio of solar, wind, hybrid and battery storage projects spanning 10,247 MWp across 50 projects attracting market attention. The GMP data provides an unofficial indicator of market sentiment, though it does not represent official listing price predictions.
As reported by The Hindu BusinessLine, Moneycontrol, The Financial Express, CNBC TV18, Business Standard, and The Economic Times, of the IPO proceeds, the company will use ₹683.24 crore of net issue proceeds for repayment of loans, with the remainder amount for general corporate purposes. The company's outstanding borrowings (fund based) were ₹13,266 crore on a consolidated basis as of June 2026. Additionally, it will invest ₹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 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 company's total income stood at ₹805 crore in 2015-16, marking a 41% year-on-year growth.
According to The Hindu BusinessLine, Moneycontrol, The Financial Express, CNBC TV18, Business Standard, and The Economic Times, Juniper Green Energy develops, builds, and operates utility-scale solar, wind, hybrid and battery energy storage projects across India. Among India's top 10 renewable independent power producers (IPPs), the company had a total capacity of 7,910.20 MW across 50 projects as of June 30, 2026. The company is backed by Singapore-based AT Capital Group and has been expanding its renewable energy portfolio significantly. Notable achievements include commissioning India's first merchant 100 MWh Battery Energy Storage System (BESS) project in Rajasthan and beginning phased commissioning of an integrated FDRE project combining solar, wind and battery storage. Most of the company's operational projects were commissioned ahead of schedule, with the weighted average lead time being 147 days. The company has grown its total capacity to 7,910.20 MW (10,247.06 MWp) as of June 2026, with operations across Gujarat, Rajasthan, Maharashtra, and Madhya Pradesh.
As reported by The Hindu BusinessLine, Moneycontrol, The Financial Express, CNBC TV18, Business Standard, and The Economic Times, ICICI Securities, HSBC Securities and Capital Markets (India), JM Financial, and Kotak Mahindra Capital Company are the book-running lead managers to the issue, while KFin Technologies is the registrar. The company's equity shares are proposed to be listed on the BSE and the NSE on August 6. The issue has reserved 50% for Qualified Institutional Buyers (QIBs), 35% for retail investors, and 15% for non-institutional investors. Equity shares aggregating up to ₹2 crore have been reserved for eligible employees, who will receive a discount of ₹21 per share. The promoters of the company are Arvind Tiku, Hemant Tikoo, Niharika Tiku, At Holdings Pte. Ltd and Juniper Renewable Holdings Pte. Ltd, with the company holding 100% promoter stake pre-issue.
According to The Financial Express, CNBC TV18, Business Standard, and The Economic Times, retail investors need to bid for a minimum of one lot comprising 66 shares, translating into an investment of ₹14,850 based on the upper end of the price band, while the maximum they can bid for is 13 lots. For small high net worth investors, the minimum lot size is 14 shares, with the maximum bid amount of 67 lots, and big HNIs can bid for a minimum of 68 lots. The company's net debt stands at around ₹9,400 crore as of the latest reports, with management noting that leverage appears elevated because a large number of projects are still under construction and have yet to start generating revenue. CEO Ankush Malik confirmed that the company has already doubled its operational capacity over the past year and remains on track to meet its expansion plans, with the company expecting to reach 6 gigawatts by FY28 as per the scheduled commissioning dates per signed PPAs.
