About Juniper Green Energy IPO
Juniper Green Energy Limited IPO will open for public subscription on July 30, 2026, and will remain open until August 3, 2026.
The Juniper Green Energy IPO price band is set at ₹214–₹225 per equity share. The allotment is expected to be finalised on August 4, 2026.
The Juniper Green Energy IPO is a ₹1,800 crore book-building issue, comprising entirely of a fresh issue of 8,00,00,000 equity shares with a face value of ₹10 each. Since this is a 100% fresh issue with no OFS, the company will directly receive all the proceeds.
Business Overview of Juniper Green Energy
Juniper Green Energy Limited, incorporated in 2011 and headquartered in New Delhi, is one of India's leading renewable energy independent power producers (IPPs). The company develops, builds, operates, and maintains utility-scale solar, wind, Wind-Solar Hybrid (WSH), and Firm & Dispatchable Renewable Energy (FDRE) projects supported by Battery Energy Storage Systems (BESS).
The company generates major revenue through long-term power purchase agreements (PPAs) with central and state government-backed entities.
As of June 30, 2026, Juniper Green Energy had a total renewable energy portfolio of 7,910.20 MW (10,247.06 MWp). It comprises of operational, under-construction, contracted, and awarded projects, making it one of the top 10 renewable IPPs in India by total capacity.
Juniper Green Energy IPO Date, Price, and Other Details
The following are the details of the upcoming Juniper Green Energy Limited IPO.
| Particulars | Details |
|---|---|
| IPO Size | Book Build issue of ₹1,800 crore |
| Offer Type | 100% Fresh Issue (no OFS) |
| Total Number of Equity Shares | 8,00,00,000 shares |
| Price Band | ₹214 to ₹225 per share |
| Issue Dates | Opens: Jul 30, 2026 · Closes: Aug 3, 2026 |
| Anchor Investor Date | Jul 29, 2026 |
| Minimum Bid Lot | 1 lot of 66 shares |
| Minimum Investment (Retail) | ₹14,850 (at upper band) |
| Allotment Date | Aug 4, 2026 |
| Credit to Demat | Aug 5, 2026 |
| Listing Date | Aug 6, 2026 |
| Face Value | ₹10 per share |
| Lead Manager (BRLM) | ICICI Securities Ltd. |
| Registrar | Kfin Technologies Ltd. |
| Listing Exchanges | National Stock Exchange of India (NSE) & Bombay Stock Exchange (BSE) |
Juniper Green Energy IPO Reservation: Who Can Apply?
The Juniper Green Energy IPO has the following category reservations from Retail to HNIs:
| Investor Category | Lots | Shares | Amount (at ₹225) |
|---|---|---|---|
| Retail (Min) | 1 | 66 | ₹14,850 |
| Retail (Max) | 13 | 858 | ₹1,93,050 |
| sNII (Min) | 14 | 924 | ₹2,07,900 |
| sNII (Max) | 67 | 4,422 | ₹9,94,950 |
| bNII (Min) | 68 | 4,488 | ₹10,09,800 |
| QIB | As applicable | — | — |
Strengths and Risks of Juniper Green Energy IPO
With every business owning its strengths and risks, even the Juniper Green Energy IPO has its potential plus points and downsides to be aware of.
Here is a brief business analysis (as per RHP) below:
Strengths
- It is among the top 10 renewable energy IPPs in India by total capacity, with a portfolio of 7,910.20 MW as of June 30, 2026.
- 97.68% of the portfolio is backed by 25-year PPAs with A-rated counterparties including SECI, NTPC, SJVN, NHPC, and state discoms.
- Grid availability of 99.40% and plant availability of 99.16% demonstrate operational reliability.
- Revenue from operations grew from ₹391.55 crore (FY24) to ₹718.93 crore (FY26), a CAGR of 35.5%.
- In-house end-to-end project execution from bidding to O&M, with projects completed a weighted average of 147 days ahead of schedule.
- Diversified technology mix including complex FDRE configurations with BESS.
Risks
- Total borrowings surged from ₹2,671.70 crore (FY24) to ₹12,920.54 crore (FY26), with a debt-to-equity ratio of 3.77x — significantly leveraged even by renewable sector standards.
- PAT remained nearly flat over three years, despite an 84% revenue increase.
- EPS declined from ₹1.90 (FY24) to ₹0.83 (FY26) as the share base expanded while profits stayed flat.
- GUVNL and MSEDCL together contributed 86.06% of FY26 revenue from operations, singalling extreme off-taker concentration.
- Negative free cash flow reflects the capital-intensive nature of building and scaling the renewable project pipeline.
Future Plans/Strategies
- Repay/prepay outstanding borrowings at the company and subsidiary levels to reduce leverage.
- Continue developing the under-construction portfolio of 2,341 MWac across WSH, FDRE, wind, and solar projects.
- Scale the FDRE and BESS capabilities to capture India's growing demand for firm and dispatchable renewable power.
- Deepen off-taker diversification beyond GUVNL and MSEDCL through PPAs with new central and state entities.
- Listing on exchanges to enhance visibility and support future growth plans.
Juniper Green Energy IPO Objectives – How Will the Funds Be Used?
The Juniper Green Energy IPO is a 100% fresh issue. The company will directly receive all the proceeds. There is no OFS component.
| Objective | Amount (₹ crore) |
|---|---|
| Repayment/prepayment of certain outstanding borrowings of the company | 683.24 |
| Investment in subsidiaries for repayment of their outstanding borrowings | 728.69 |
| General corporate purposes | Remaining |
How To Apply for the Juniper Green Energy IPO?
You can apply for the Juniper Green Energy IPO on any financial platform by following these simple steps:
Step 1: Open a Demat and trading account with a broker
Step 2: Log in to the trading app and go to the IPO section.
Step 3: Select Juniper Green Energy IPO
Step 4: Enter the lot size (minimum 66 shares) and bid price (₹214–₹225)
Step 5: Approve the UPI mandate to block funds
Step 6: Submit your application
Promoter Shareholding of Juniper Green Energy IPO
The promoters of Juniper Green Energy include Arvind Tiku, Hemant Tikoo, Niharika Tiku, AT Holdings Pte. Ltd., and Juniper Renewable Holdings Pte. Ltd.
| Promoter | Pre-Issue Holding (%) |
|---|---|
| Juniper Renewable Holdings Pte. Ltd. | 99.43% |
Financial Performance (₹ in crores) of Juniper Green Energy IPO
Here's the table outlining the financial performance of Juniper Green Energy Limited from FY 2024 to FY 2026.
(₹ in crores)
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 19,538.45 | 10,356.81 | 4,986.44 |
| Total Income | 804.93 | 569.78 | 424.45 |
| Profit After Tax | 40.46 | 36.48 | 40.06 |
| EBITDA | 692.18 | 485.69 | 370.84 |
| NET Worth | 122.89 | 116.29 | 108.21 |
Key Performance Metrics of Juniper Green Energy
Based on the financials available in the RHP, the following key performance metrics of Juniper Green Energy IPO can be considered.
| KPI | As of FY 2025-26 | Values (as of FY 2024-25) |
|---|---|---|
| RoNW | 1.18% | 1.09 |
| Earnings Per Share (EPS) | ₹0.83 | ₹0.99 |
| Debt to Equity Ratio | 2.75x | 0.81x |
| Net Asset Value (NAV) | ₹70.02 | ₹91.10 |
| EBITDA Margin | 85.99% | 85.24% |
(Note: P/E, market capitalisation, and post-IPO NAV are subject to final pricing and allotment. Refer to the RHP for complete details.)
Registrar of Juniper Green Energy IPO
The Registrar of Juniper Green Energy IPO is Kfin Technologies Ltd.
Phone: 040-79615565
Email: junipergreen.ipo@kfintech.com
Website: https://ipostatus.kfintech.com/
Lead Manager of Juniper Green Energy IPO
ICICI Securities Ltd. is the book running lead manager handling the IPO process of Juniper Green Energy Limited.
