Juniper Green Energy IPO GMP, Date, Price Band & Review

Juniper Green Energy IPO Overview

Juniper Green Energy Ltd.’s DRHP was filed with SEBI on June 27, 2025. The issue is a 100% book-built IPO, which is entirely a fresh issue of approx ₹1,800 crore. The face value of the equity shares is ₹10.

The price band of the issue is set between ₹214 to ₹225 per share and the lot size for an application is 66 shares. The minimum amount of investment required by an individual investor is ₹14,850 (66 shares). The IPO will be open for subscription is July 30 to August 3, 2026, on the BSE and the NSE platforms, with a tentative listing date fixed as August 6, 2026. The Book Running Lead Managers (BRLMs) for this issue are ICICI Securities Ltd., HSBC Securities and Capital Markets (India) Private Ltd., JM Financial Ltd., and Kotak Mahindra Capital Company Ltd., with KFin Technologies Ltd. as the Registrar to the Offer.

Juniper Green Energy IPO Overview

The Juniper Green Energy IPO is officially set to open for subscription on Jul 30, 2026 and will close on Aug 3, 2026. The company initially filed its Draft Red Herring Prospectus (DRHP) on June 27, 2025 and has now finalized its schedule following SEBI approval. Once the subscription window closes, allotment is expected on Aug 4, 2026. Following this, the firm will initiate refunds and credit shares to successful investors' demat accounts on Aug 5, 2026. Finally, shares of Juniper Green Energy Ltd. are tentatively scheduled to list on the stock exchanges on Aug 6, 2026.

Juniper Green Energy IPO GMP

“Grey Market Premium” or GMP is defined as the rate at which the IPO's shares are traded in the market before they are officially listed on the stock exchange.

The Juniper Green Energy IPO GMP is currently trading at ₹16.5, reflecting the sentiment of unofficial investors before the official listing. This premium suggests a potential listing price of ₹241.5, which is 7.33% above the issue price. While the Grey Market Premium is a key indicator of demand and investor appetite, it is important to remember that GMP is highly volatile and should not be the sole factor in your investment decisions.

Company Background

Juniper Green Energy Ltd. was incorporated as "AT Capital Advisory India Private Ltd." on December 5, 2011, in New Delhi, with the corporate office in Gurugram, Haryana. Over the years, the company has made some changes and its name was changed to "Juniper Green Energy Private Ltd." in 2018, which signifies its focused approach towards renewable energy.

In May 2025, the company was converted into a public limited company and its name was changed to "Juniper Green Energy Ltd." The company has emerged as one of the leading independent power producers (IPPs) in the country, developing and operating utility-scale renewable energy projects in India.

Operations & Product Range

Juniper Green Energy Ltd. is involved in the development, construction, operation and maintenance of renewable energy projects using the company’s internal engineering, procurement and construction (EPC) and operation and maintenance (O&M) capabilities. The company generates revenue through the sale of electricity to off-takers. The company’s portfolio comprises a broad range of renewable energy products:

• • Wind and Solar Power projects.
• • Wind-Solar Hybrid projects.
• • Base load and dispatchable renewable energy.
• • Battery Energy Storage Systems (BESS).

The target market for these offerings is government-supported entities with which the firm enters into long-term Power Purchase Agreements (PPAs).

Facilities & Capacity

Juniper Green Energy Ltd. has a large number of renewable resources spread across different states in India, including Gujarat, Rajasthan and Maharashtra. As of December 31, 2024, Juniper Green Energy Ltd. is one of the top 10 largest renewable IPPs in India in terms of total capacity, including operational, under-construction, contracted and awarded capacities. The company conducts its business operations through a significant number of subsidiaries 44 direct subsidiaries, as of the date of the DRHP filing.

Brands & Market Presence

Juniper Green Energy Ltd. functions under the brand name "Juniper Green Energy" and has been able to create a strong market presence in the Indian renewable energy market. The company has a well-balanced tariff, with an average weighted tariff of ₹3.63/kWh as of May 31, 2025.

The market presence of the company is identified by its ability to perform the entire project life cycle, from development to maintenance, which provides it with a competitive advantage in government contracts.

Revenue Streams & Business Model

Juniper Green Energy Ltd. operates as an independent renewable power producer, utilizing an integrated business model that encompasses in-house engineering, procurement, construction, and ongoing operations. The company focuses on developing utility-scale solar, wind, and complex hybrid energy assets. Its primary revenue stream is derived from long-term, fixed-tariff Power Purchase Agreements (PPAs), which typically span 25 years. By securing these strategic contracts with state utilities and central power entities, the firm guarantees highly stable and predictable cash flows to support its continuous capacity expansion.

Financial Performance

Juniper Green Energy Ltd. has demonstrated a positive and profitable financial trajectory, recording an operating revenue of ₹391.60 crore and a net profit of ₹40.06 crore for the financial year 2024. Momentum continued into FY25, with revenues reaching ₹351.60 crore in the first nine months. The company's total asset base also expanded significantly to ₹4,986.44 crore by March 2024. Despite steady top-line growth and solid profitability, the firm currently operates with negative free cash flow, reflecting the heavy capital expenditures required to continually expand its renewable asset pipeline.

Management & Shareholding

The management of Juniper Green Energy Ltd. is headed by its promoters and a team of professionals, consisting of individual promoters Arvind Tiku, Hemant Tikoo and Niharika Tiku, along with corporate promoters AT Holdings Pte. Ltd. and Juniper Renewable Holdings Pte. Ltd. Before the Juniper Green Energy IPO, the company was a subsidiary of Juniper Renewable Holdings Pte. Ltd., which owns 100% of the pre-issue equity share capital. This existing shareholding pattern is expected to be diluted after the completion of the fresh issue of shares to the public.

Board & Key Management

The board of directors of Juniper Green Energy Ltd. is responsible for providing strategic guidance and supervision for the company’s large project pipeline, headed by Ankit Nagori, who is the Chairman and Managing Director. The company’s executive management team also consists of Ankush Malik (CEO) and Parag Agrawal (CFO), with Prashant Pandia acting as the Company Secretary. Additionally, the company’s board also has a robust governance structure in place through the appointment of independent directors, such as Prashant Parashar, who assist in the overall management and compliance of the company.