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Juniper Green Energy will open its INR 1,800 crore initial public offering (IPO) for public subscription on July 30, with the issue closing on August 3. The offering consists entirely of a fresh issue of equity shares and does not include an offer-for-sale component. The company plans to use the proceeds primarily to reduce debt at both the parent and subsidiary levels, while also supporting general corporate requirements. Backed by Singapore-based AT Capital Group, Juniper Green Energy has been expanding its renewable energy portfolio, including utility-scale solar, wind, hybrid and battery energy storage projects across India.
Renewable energy company Juniper Green Energy has announced that its INR 1,800 crore initial public offering (IPO) will open for public subscription on July 30 and close on August 3. The anchor investor portion of the issue will open a day earlier on July 29, according to the company's red herring prospectus (RHP) filed with the Securities and Exchange Board of India (SEBI).
The public issue consists entirely of a fresh issue of equity shares and does not include an offer-for-sale (OFS), meaning the funds raised will be directed towards the company's growth and financial requirements rather than providing an exit route to existing shareholders.
At the time of filing its draft papers with SEBI, Juniper Green Energy had proposed to raise up to INR 3,000 crore through the IPO. However, the company has now fixed the issue size at INR 1,800 crore.
A major portion of the proceeds, amounting to INR 683.24 crore, will be used to repay or prepay certain outstanding borrowings of the company. Another INR 728.69 crore will be invested in its subsidiaries—Juniper Green Gamma One, Juniper Green Kite and Juniper Green Power Five—to enable them to repay or prepay their existing loans. The remaining funds will be utilised for general corporate purposes.
Headquartered in Gurugram, Juniper Green Energy develops, builds and operates utility-scale solar, wind, hybrid and battery energy storage projects across India. The company has an integrated business model covering project development, engineering, procurement, construction and operations, allowing it to manage projects across the entire value chain.
Backed by Singapore-based AT Capital Group, the company has been expanding its renewable energy portfolio in line with India's clean energy transition. It recently commissioned India's first merchant 100 MWh Battery Energy Storage System (BESS) project in Rajasthan and also began phased commissioning of an integrated Firm and Dispatchable Renewable Energy (FDRE) project that combines solar, wind and battery storage technologies. These projects reflect the growing focus on round-the-clock renewable power and grid stability as India increases the share of clean energy in its power mix.
ICICI Securities, HSBC Securities and Capital Markets (India), JM Financial and Kotak Mahindra Capital Company are the book-running lead managers for the issue, while KFin Technologies has been appointed as the registrar. The company's equity shares are proposed to be listed on both the BSE and the NSE.
Source PTI
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