Shares of Juniper Green Energy listed at 9% premium over IPO price on Thursday. The stock opened at Rs 245 and Rs 242 on NSE and BSE, respectivley, as compred to its issue price of Rs 225.
The Rs 1,800 crore initial public offering, which consisted entirely of a fresh issue of 8 crore equity shares, witnessed healthy investor participation during the subscription period.
Overall, the IPO was subscribed 7.97 times, with institutional investors leading the charge. The Qualified Institutional Buyers (QIB) portion was oversubscribed 24.94 times, reflecting strong confidence from large investors. The Non-Institutional Investors (NII) category was subscribed 1.82 times, while the Retail Individual Investors (RII) segment recorded a subscription of 93%.
The issue was priced in the range of Rs 214-225 per share. ICICI Securities acted as the book-running lead manager, while KFin Technologies served as the registrar to the issue.
IPO Proceeds to focus on debt reduction
A significant portion of the IPO proceeds will be used to strengthen the company's balance sheet by reducing debt.
Juniper Green Energy plans to allocate Rs 683.24 crore towards the repayment or prepayment of its borrowings. Additionally, Rs 728.69 crore will be infused into its material subsidiaries, enabling them to repay outstanding loans.
In total, nearly Rs 1,411.92 crore will go towards debt reduction, a move expected to lower financing costs, improve leverage and enhance the company's financial flexibility. The remaining funds will be used for general corporate purposes.
The renewable energy company reported solid financial performance in FY26, supported by higher revenues and improved profitability. Total income rose 41%, increasing from Rs 569.78 crore in FY25 to Rs 804.93 crore in FY26, highlighting the company's expanding operational scale. Meanwhile, profit after tax (PAT) grew 11% to Rs 40.46 crore, compared with Rs 36.48 crore in the previous financial year.
Established in 2011, Juniper Green Energy is among India's leading renewable energy independent power producers (IPPs). The company develops, builds, owns, operates and maintains utility-scale renewable energy projects across solar, wind, hybrid, and Firm & Dispatchable Renewable Energy (FDRE) segments, supported by Battery Energy Storage Systems (BESS).
Its business is backed by long-term Power Purchase Agreements (PPAs) with central and state government-backed entities, providing stable and predictable revenue streams.
As of June 30, 2026, Juniper Green Energy had a diversified renewable energy portfolio of 7,910.20 MW (10,247.06 MWp) spanning operational, under-construction, contracted and awarded projects. This places the company among the top 10 renewable energy IPPs in India by installed and pipeline capacity.
