Exclusive: Juniper Green Energy plans ₹3,000 crore IPO launch in early Dec

Juniper Green Energy, a homegrown renewable independent power producer, is planning to launch its initial public offering (IPO) in the first week of December. The IPO is a completely fresh issue of ₹3,000 crore worth of equity shares, with no offer-for-sale component.

“The renewable energy firm will file its red herring prospectus by mid-November and plans to launch the issue for public subscription in the first week of December,” industry sources told Fortune India.

The IPO dates may change slightly depending on the approval from the RoC, they said.

The Gurugram-based firm filed its draft red herring prospectus (DRHP) with Sebi on June 27, 2025, and received approval from the regulator on August 28, 2025.

The company has reserved up to 50% of the shares for qualified institutional buyers (QIBs), not more than 15% for non-institutional investors (NIIs), and the remaining 35% for retail investors.

The offer comprises a fresh issue of equity shares (face value ₹10 each) worth up to ₹3,000 crore.

As per the DRHP filed with Sebi, the company intends to use the IPO proceeds mainly to repay debts and invest in its subsidiaries. Around ₹1,092.27 crore will be used towards repayment or prepayment, in full or in part, of certain borrowings availed by the company.

A part of the IPO proceed will be used for investment in its material subsidiaries, namely namely Juniper Green Gamma One Private Limited, Juniper Green Three Private Limited, Juniper Green Field Private Limited, Juniper Green Beam Private Limited, and others.

Juniper Green Energy is among the leading independent power producers (IPPs) in India in terms of total capacity as of December 31, 2024, which includes operational, under-construction, contracted, and awarded projects, according to a CRISIL Report.

The company develops, builds, operates, and maintains utility-scale renewable energy projects through its in-house engineering, procurement, and construction (EPC) and operations and maintenance (O&M) teams, and generates revenue by selling electricity to various off-takers, including central and state government-backed entities.

The renewable energy firm commissioned its first solar project with a capacity of 100 MW (144.97 MWp) in March 2020 and has since expanded its portfolio to a total capacity of 7,898.45 MW (10,069.58 MWp) as of May 31, 2025. Apart from solar projects, Juniper Green’s portfolio also includes wind energy assets and a growing focus on complex renewable energy solutions such as wind-solar hybrid (WSH) and firm and dispatchable renewable energy (FDRE) projects with battery energy storage systems (BESS).

The firm is ranked as the second-largest bidder in terms of total capacity won in WSH and FDRE tenders concluded between April 1, 2021, and December 31, 2024, and has maintained a 100% conversion rate for all WSH and FDRE tenders it has won during this period, the CRISIL Report noted.

ICICI Securities Limited, HSBC Securities and Capital Markets (India) Private Limited, JM Financial Limited and Kotak Mahindra Capital Company Limited are the book running lead managers to the issue.

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