Juniper Green Energy shares list at 9% premium after 7.9x subscribed IPO
ADVERTISEMENT
Juniper Green Energy made a positive debut on the domestic bourses on Thursday, with its shares listing at nearly a 9% premium to the initial public offering (IPO) price.
The renewable energy company's shares debuted at ₹245 on the NSE, an 8.89% premium over the issue price of ₹225 apiece. On the BSE, the stock listed at ₹242, up 7.56%, valuing the company at ₹13,769.76 crore.
The listing was broadly in line with Street expectations, though slightly below the grey market premium (GMP). Ahead of the listing, Juniper Green Energy was commanding a GMP of ₹23 per share, implying an estimated listing price of around ₹248, or a premium of 10.22% over the upper end of the price band.
The ₹1,800-crore IPO, which was open for subscription from July 30 to August 3, was subscribed 7.88 times, driven by strong institutional demand, even as the retail portion remained undersubscribed.
According to BSE data, the IPO received bids for 46.63 crore equity shares against the 5.89 crore shares on offer, attracting 1,86,963 applications worth ₹10,423 crore.
The qualified institutional buyers (QIB) portion was subscribed 24.94 times, with bids for 41.90 crore shares against the 1.68 crore shares reserved for the category. The non-institutional investors (NII) segment was subscribed 1.79 times. Retail participation remained muted, with the category subscribed 0.76 times, receiving bids for 2.22 crore shares against the 2.94 crore shares reserved. The employee quota was subscribed 3.48 times.
Ahead of the issue, the Gurugram-based company raised ₹539.4 crore from 31 anchor investors by allotting 2.40 crore shares at ₹225 per share, the upper end of the price band. The anchor book included marquee investors such as ICICI Prudential Mutual Fund, SBI Mutual Fund, WhiteOak Capital, Bajaj Life Insurance, Tata AIG General Insurance, and HDFC Life Insurance. Domestic mutual funds accounted for nearly 75% of the anchor allocation through 24 schemes across nine asset management companies.
The company plans to utilise the IPO proceeds primarily to repay borrowings at both the parent and subsidiary levels, strengthening its balance sheet.
Juniper Green Energy is one of India's leading renewable energy independent power producers (IPPs), with a portfolio spanning utility-scale solar, wind, wind-solar hybrid (WSH), and firm and dispatchable renewable energy (FDRE) projects supported by battery energy storage systems (BESS). As of June 30, 2026, the company had a renewable energy portfolio of 7,910.2 MW (10,247.06 MWp) across operational, under-construction, contracted, and awarded projects.
For FY26, the company reported a 41% year-on-year increase in total income to ₹804.93 crore, while net profit rose 11% to ₹40.46 crore. As of March 31, 2026, its total borrowings stood at ₹12,920.54 crore.