The initial public offering (IPO) of Juniper Green Energy saw a pick-up in investor interest on the final day of bidding, with the issue being fully subscribed as of 11:00 am on August 3, according to data available on the National Stock Exchange (NSE).
The IPO received bids for 7,48,88,748 equity shares against 5,89,16,709 shares on offer. The qualified institutional buyers (QIBs) portion was the only segment to see full subscription, getting 3.84 times bids, while the retail individual investors (RIIs) category was subscribed 28 percent.
The Rs 1,800 crore public issue is entirely a fresh issue of 8 crore equity shares and is priced in the range of Rs 214-225 per share. Investors can bid for a minimum of 66 shares, requiring an investment of Rs 14,850 at the upper end of the price band.
The IPO was commanding a grey market premium (GMP) of around Rs 1.75 per share on the morning of August 3, implying a modest premium over the upper price band, according to IPO tracking platforms Investorgain and IPO Watch.
Ahead of the public issue, Juniper Green Energy had raised Rs 539.4 crore from 16 anchor investors. As per the company's exchange filing dated July 29, it allotted 2.39 crore equity shares to anchor investors at Rs 225 per share, the upper end of the price band.
Domestic mutual funds accounted for the majority of the anchor allocation. Nine mutual funds, including WhiteOak Capital, Nippon India Mutual Fund, ICICI Prudential Mutual Fund, SBI Mutual Fund, HSBC Mutual Fund and Edelweiss Mutual Fund, were allotted 1.79 crore shares, representing 74.79 percent of the anchor book and aggregating Rs 403.43 crore.
Insurance companies, including Bajaj Life, HDFC Life and Edelweiss Life, received 15.98 lakh shares worth Rs 35.96 crore, while the Abu Dhabi Investment Authority invested nearly Rs 80 crore by subscribing to 35.55 lakh equity shares.
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The IPO will close for subscription today, on August 3. The company is expected to finalise the basis of allotment on August 4, while refunds and credit of shares to successful applicants' demat accounts are scheduled for August 5. The shares are proposed to list on the BSE and NSE on August 6.
ICICI Securities is the book-running lead manager to the issue, while KFin Technologies is the registrar.
The company plans to utilise the net proceeds from the IPO towards debt repayment, investment in its material subsidiaries, and general corporate purposes.
On the financial front, Juniper Green Energy reported a profit after tax (PAT) of Rs 40.46 crore in FY26, up 10.91 percent from Rs 36.48 crore in FY25. Its revenue from operations rose 41.33 percent year-on-year to Rs 718.93 crore from Rs 508.68 crore, reflecting robust topline growth.