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Juniper Green Energy's INR 1,800 crore initial public offering (IPO) witnessed strong investor interest, closing with an overall subscription of 7.97 times. The issue was largely driven by institutional investors, with the Qualified Institutional Buyers (QIB) portion attracting nearly 25 times subscription. Ahead of the public issue, the renewable energy company raised INR 539.4 crore from anchor investors, including Abu Dhabi Investment Authority and Nippon India Mutual Fund. The company plans to utilise the IPO proceeds primarily for debt repayment, investments in subsidiaries and general corporate purposes, while its shares are scheduled to list later this week.
Juniper Green Energy Ltd's INR 1,800 crore initial public offering (IPO) received an overall subscription of 7.97 times at the close of bidding on Monday, reflecting strong demand from institutional investors while retail participation remained relatively moderate.
According to NSE data, the IPO received bids for 46,96,00,758 equity shares against the 5,89,16,709 shares offered. The Qualified Institutional Buyers (QIB) portion emerged as the strongest segment, with subscriptions reaching 24.94 times. The category reserved for non-institutional investors was subscribed 1.82 times, while the retail investors' portion was subscribed 93%.
Ahead of the public issue, the Gurugram-based renewable energy company raised INR 539.4 crore from anchor investors. The anchor book included leading institutional investors such as Abu Dhabi Investment Authority and Nippon India Mutual Fund, providing early support to the issue.
The IPO was offered in a price band of INR 214 to INR 225 per equity share. The issue consisted entirely of a fresh issue of equity shares, with no offer for sale component.
The company plans to utilise INR 683.24 crore from the IPO proceeds towards repayment or prepayment of certain borrowings. 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 outstanding loans. The remaining proceeds will be used for general corporate purposes.
Juniper Green Energy's equity shares are scheduled to be listed on the BSE and NSE on August 6, subject to the completion of the IPO process.
The company develops, builds and operates utility-scale solar, wind, hybrid renewable energy and battery energy storage projects across India. It has established an integrated business model covering project development, engineering, procurement, construction and operations, enabling it to manage projects across the value chain.
Backed by Singapore-based AT Capital Group, Juniper Green Energy has continued expanding its renewable energy portfolio. The company has commissioned India's first merchant 100 MWh Battery Energy Storage System (BESS) project in Rajasthan and has also begun phased commissioning of an integrated Firm and Dispatchable Renewable Energy (FDRE) project that combines solar, wind and battery storage technologies. These projects are aimed at supporting grid stability while meeting the country's growing renewable energy requirements.
India's renewable energy sector has witnessed steady investment activity in recent years, supported by increasing demand for clean energy, government-backed capacity addition targets and growing deployment of battery energy storage systems. Companies operating in the sector have increasingly turned to the capital markets to fund expansion, strengthen their balance sheets and support the execution of large-scale renewable energy projects.
Source PTI
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