Juniper Green Energy
Juniper Green Energy is one of India's largest renewable power producer Independent Power Producers (IPPs), specializing in the design, construction, and management of large-scale green energy projects. The company operates across solar, wind, and advanced renewable sectors including FDRE with BESS.
Price Band
₹214 - ₹225
Lot Size
66 Shares
Issue Size
₹1,800.00 Cr
Fresh Issue
₹1,800.00 Cr
OFS
N/A
Registrar
AI Sentiment Score
Listing Price
₹245.00
vs Issue: ₹225 (+8.89%)
📅 IPO Timeline
1
Open
TBD
2
Close
TBD
✓
Allotment
Aug 4
✓
Refund
Aug 5
✓
Demat
Aug 5
✓
Listing
Aug 6
✨ AI Analysis & Prediction
+5.9%
predicted listing gain
The listing gain is adjusted downward from the 9.78% GMP baseline due to a high Debt-to-Equity ratio of 2.75 and stagnant PAT growth despite rising revenues. However, the 100% fresh issue structure and strong revenue trajectory provide a sentiment floor, preventing a negative listing.
💪 Strengths
- Rapid capacity expansion to over 10,000 MWp
- 100% Fresh Issue means capital enters the company rather than promoters exiting
⚠️ Weaknesses
- High Debt-to-Equity ratio of 2.75
- Stagnant PAT growth despite significant revenue jumps
🚀 Opportunities
- India's national shift towards green energy and sustainable power
- Expansion into BESS and FDRE advanced renewable projects
🛡️ Threats
- Interest rate fluctuations impacting high debt servicing
- Intense competition from other large-scale IPPs like Adani Green
🎯 Objectives of the IPO
| Requirement / Purpose | Amount (₹ Cr) |
|---|---|
| Repayment/pre-payment, in full or part of certain borrowings availed by our Company | ₹683.24 |
| Investment in our Material Subsidiaries namely Juniper Green Gamma One Private Limited, Juniper Green Three Private Limited, Juniper Green Field Private Limited, Juniper Green Beam Private Limited, and our Subsidiaries namely Juniper Green Kite Private Limited and Juniper Green Ray Two Private Limited for repayment/ pre-payment, in full or in part, of all or a portion of certain of their outstanding borrowings | ₹728.69 |
| General Corporate Purpose | ₹388.07 |
📊 Financial Overview
| Metric | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue (₹ Cr) | Rs 392.00 Cr | Rs 509.00 Cr | Rs 719.00 Cr |
| Net Profit / PAT (₹ Cr) | Rs 40.00 Cr | Rs 36.00 Cr | Rs 40.00 Cr |
| EBITDA / Op. Profit (₹ Cr) | Rs 338.00 Cr | Rs 425.00 Cr | Rs 608.00 Cr |
| Borrowings (₹ Cr) | Rs 2,894.00 Cr | Rs 5,971.00 Cr | Rs 13,761.00 Cr |
| Total Assets (₹ Cr) | Rs 4,975.00 Cr | Rs 10,331.00 Cr | Rs 19,500.00 Cr |
| ROCE % | 6.00% | 4.00% | 3.00% |
Debt/Equity
2.75
📋 Live Subscription Status
QIB
26.22x
NII
1.60x
Retail
0.98x
Total
8.38x
Updated: Aug 5, 2026 8:12 AM
💼 Reservation Quota
QIB
50.00%
Retail
35.00%
NII
15.00%
📈 Shareholding & Anchor Lock-In
🔗 Important Links & Lead Managers
- Check Allotment StatusCheck Now →
- Registrar WebsiteVisit →
- Download DRHP ProspectusDownload PDF 📥
- Download RHP ProspectusDownload PDF 📥
Lead Managers / Merchant Bankers
This issue is managed by Hem Securities Ltd., and Share India Capital Services Pvt. Ltd.
Disclaimer: The information provided on this page is for educational and informational purposes only and does not constitute financial advice. IPO investments are subject to market risks. AI-generated analysis is based on publicly available data and may not be accurate. Grey Market Premium (GMP) is unofficial and highly speculative. Always consult a qualified financial advisor and read the DRHP/RHP carefully before making investment decisions.
Juniper Green Energy has rapidly evolved into a significant player in the Indian renewable energy landscape. The company launched its first 100 MW solar project in March 2020 and has since aggressively expanded its operational footprint. As of May 31, 2025, the company has scaled its total capacity to 7,898.45 MW (10,069.58 MWp), demonstrating a high growth trajectory in infrastructure deployment.
The company's business model is comprehensive, covering the entire project lifecycle from site selection, land and grid approvals, and engineering to procurement, financing, and construction. By utilizing internal EPC and O&M teams, Juniper Green Energy maintains control over the quality and efficiency of its power production assets.
Operationally, the company has established a strong presence across key Indian states, including Gujarat, Rajasthan, Maharashtra, and Madhya Pradesh. Its diversified portfolio includes not only solar projects but also wind energy and advanced hybrid solutions such as Wind-Solar Hybrid (WSH) and Firm and Dispatchable Renewable Energy (FDRE) with Battery Energy Storage Systems (BESS).
The company is led by a promoter group including Arvind Tiku, Hemant Tikoo, Niharika Tiku, At Holdings Pte. Ltd, and Juniper Renewable Holdings Pte. Ltd. Their strategic focus is centered on supporting India's transition toward a sustainable, greener energy future through large-scale clean energy IPP operations.
The Juniper Green Energy IPO is a Mainboard issue seeking to raise approximately ₹1,800 Crore through a 100% fresh issue of equity shares. The price band is set between ₹214 and ₹225 per share, with a minimum retail lot size of 66 shares requiring an investment of ₹14,850. The issue is scheduled to open on July 30, 2026, and close on August 3, 2026, with listing on the BSE and NSE on August 6, 2026.
The proceeds from the fresh issue are primarily earmarked for debt reduction. Specifically, ₹683.24 Crore will be used for the repayment or prepayment of company borrowings, and ₹728.69 Crore will be utilized for the repayment of borrowings within material subsidiaries such as Juniper Green Gamma One, Juniper Green Three, and others.
Financial performance shows strong top-line growth, with revenues increasing from ₹424.45 Crore in FY24 to ₹804.93 Crore in FY26. However, the bottom line has remained relatively flat; PAT grew from ₹40.06 Crore in FY24 to ₹40.46 Crore in FY26, indicating that rising operational costs or interest burdens are offsetting revenue gains.
From a valuation perspective, the company reports a basic EPS of ₹0.83 for FY26 and a Net Asset Value (NAV) of ₹70.02. When compared to peers like Adani Green and NTPC Green Energy, the company operates in a high-valuation sector, though its specific P/E is not provided in the summary. The Debt-to-Equity ratio stands at a concerning 2.75.
Key investment strengths include its massive capacity expansion and its position as a leading IPP in a priority government sector. However, the high leverage and stagnating profit margins are significant risks. Investors should weigh the strength of the renewable energy sector against the company's high debt levels and limited PAT growth.