Demand was largely driven by institutional investors. The Qualified Institutional Buyers (QIB) portion was subscribed 18.80 times, while the Non-Institutional Investors (NII) category was booked 0.93 times. The retail investor segment remained relatively subdued, with subscriptions at 41% against the 2.94 crore shares reserved for the category.
Despite the healthy overall subscription, sentiment in the grey market has weakened. The grey market premium (GMP) has slipped to 0.51%, indicating expectations of a largely flat market debut.
The IPO, which opened for subscription on July 30, will close later today. The public issue comprises only a fresh issue of equity shares, with no offer-for-sale (OFS) component.
The company has fixed the price band at ₹214-225 per share, with investors required to apply for a minimum of 66 equity shares and in multiples thereafter. At the upper end of the price band, Juniper Green Energy is expected to command a market capitalisation of ₹12,802 crore.
The company plans to utilise ₹683.24 crore from the issue proceeds to repay its borrowings, while ₹728.69 crore will be infused into its subsidiaries for debt repayment. The remaining funds will be used for general corporate purposes.
Backed by AT Capital Group of Singapore, Juniper Green Energy develops, builds and operates utility-scale solar, wind, hybrid and battery energy storage projects across India.
The company has also commissioned India’s first merchant 100 MWh Battery Energy Storage System (BESS) project in Rajasthan and is developing an integrated Firm and Dispatchable Renewable Energy (FDRE) project combining solar, wind and battery storage.
Juniper Green Energy generates revenue through long-term power purchase agreements (PPAs) with central and state government-backed entities, providing stable and predictable cash flows.
As of June 30, 2026, the company had a renewable energy portfolio of 7,910.20 MW (10,247.06 MWp) across operational, under-construction, contracted and awarded projects, making it one of India’s top 10 renewable independent power producers (IPPs) by installed and pipeline capacity.
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 shares are proposed to be listed on both the BSE and the NSE.
