Juniper Green Energy IPO

The Juniper Green Energy mainboard IPO opens for subscription on 30 Jul 2026 and closes on 3 Aug 2026, offered at a price band of ₹214–225 per share, and is set to list on NSE and BSE. In total, the issue aims to mobilise ₹1,800 crore. Retail investors bid in lots of 66 shares, a minimum application of ₹14,850.

Issue structure

The IPO is structured entirely as a fresh issue of ₹1,800 crore, so the full proceeds flow to the company to fund its stated objects of the issue.

Objects of the issue

Per the offer document, the company intends to deploy the net proceeds primarily toward investment in material subsidiaries namely juniper green gamma one pvt.ltd., juniper green three pvt.ltd., juniper green field pvt.ltd., juniper green beam pvt.ltd., and subsidiaries namely juniper green kite pvt.ltd. and juniper green ray two pvt.ltd. for repayment/ pre-payment, in full or in part, of all or a portion of certain of their outstanding borrowings (₹728.69 crore), alongside repayment/pre-payment, in full or part of certain borrowings availed by company (₹683.24 crore). In all, 4 objects are disclosed — the full break-up is in the table above.

Financials

In FY2026, Juniper Green Energy reported revenue of ₹804.93 crore and a net profit of ₹40.46 crore. Revenue grew from ₹424.45 crore in FY2024 to ₹804.93 crore in FY2026 (+90.0%). Net worth stood at ₹122.89 crore at the end of FY2026. At the upper band, that puts the issue at roughly 271.1× FY2026 earnings (P/E), a figure worth comparing against listed peers in the sector.

Valuation

At the upper band, the issue is priced at 316.9× post-issue earnings and 3.21× book value, against a return on net worth of 1.18%. These ratios come from the offer document and are for comparison, not a recommendation.

Peer comparison

The offer document names listed peers including Acme Solar Holdings Ltd and Adani Green Energy Ltd, with a median peer P/E of about 97.8×. The issue's own post-issue P/E works out to 316.9×.

Promoters

The promoters of the company are <p>Arvind Tiku, Hemant Tikoo, Niharika Tiku, At Holdings Pte.Ltd., Juniper Renewable Holdings Pte.Ltd.</p>. Promoter holding stands at 100% before the issue and comes down to 85.94% after listing.

Grey market premium (GMP)

In the unofficial grey market, Juniper Green Energy shares are quoted at a premium of ₹22.5 implying an expected listing around ₹247.5, about +10.0% over the upper band. Grey market premium is a sentiment indicator set by private dealers, not the company or the exchange — it moves quickly and is not a reliable predictor of the actual listing price.

Subscription

The Juniper Green Energy IPO was subscribed 8.38 times overall. The strongest demand came from qualified institutional buyers (QIB) at 26.22 times, with non-institutional investors (NII) at 1.92× and retail investors at 0.98×.

Listing performance

Juniper Green Energy listed on 6 Aug 2026 at ₹242, a premium of +7.6% over the issue price of ₹225.

What to weigh

When evaluating the Juniper Green Energy IPO, the data points most investors look at are the fresh-issue-versus-OFS split, the revenue and profitability trend, subscription demand across investor categories and the grey market premium. Grey market premium and subscription figures reflect short-term sentiment rather than long-term fundamentals; the figures on this page are for information only and are not investment advice.

About Juniper Green Energy

Juniper Green Energy is a prominent independent renewable energy power producer in India , specializing in the development, construction, and operation of solar, wind, and hybrid power projects. Established with a focus on sustainable and clean energy solutions, the company aims to support India's transition toward a greener energy future by generating power from non-fossil fuel sources. The company manages the end-to-end lifecycle of renewable energy project development across all critical stages, including: (i) bidding and auction; (ii) site prospecting; (iii) land acquisition and grid permits; (iv) engineering and technology; (v) procurement; (vi) project financing; (vii) plant construction and 303 commissioning; and (viii) operation &amp; maintenance. The company has signed long-term power-purchase agreements (PPAs) with government bodies like SECI, SJVN, NHPC, and NTPC and private clients such as Tata Power Company Limited. As on May 31, 2025, the company has a portfolio asset of total Capacity of 7,898.45 MW. The company has expanded its geographical presence across states such as Gujarat, Rajasthan, Maharashtra and Madhya Pradesh. Competitive strengths Among the top 10 renewable energy independent power producers in India Proven ability to secure land and establish robust connectivity well in advance Long-term power purchase agreements with central and state government off-takers End-to-end inhouse capabilities in developing and operating renewable energy projects Experienced promoters and leadership