Juniper Green Energy IPO: ₹539.4 Cr Anchor Funding Secured

Juniper Green Energy’s IPO launched its subscription on Thursday, July 30, securing ₹539.4 crore from anchor investors ahead of its public offering. The company’s shares are priced between ₹214 and ₹225, with an estimated listing gain of 7.56%.

The subscription window for the IPO is set to close on Monday, August 3. Each equity share holds a face value of ₹10, with a lot size of 66 shares.

Anchor Investor Influx

• Anchor investors contributed ₹539.4 crore.
• Notable participants included Abu Dhabi Investment Authority (ADIA) and Nippon India Mutual Fund.
• Domestic mutual funds acquired 1.79 crore equity shares, representing 74.79% of the anchor portion.
• This allocation was spread across 24 schemes from nine distinct fund houses.

The allocation framework designates up to 50% for Qualified Institutional Buyers (QIBs) and at least 15% for Non-Institutional Investors (NIIs). Retail Individual Investors (RIIs) are allotted a minimum of 35% of the net issue.

Listing Schedule & Outlook

• Allotment of shares is slated for Tuesday, August 4.
• Refunds and demat account credits are anticipated for Wednesday, August 5.
• Shares will officially list on the BSE and NSE on Thursday, August 6.

The Grey Market Premium (GMP) for Juniper Green Energy IPO stands at +17. This suggests an estimated listing price of ₹242 per share, indicating a potential 7.56% gain over the ₹225 upper price band.

Brokerage Perspectives

SBI Securities recommended a long-term subscription, highlighting Juniper Green Energy’s position as a leading renewable independent power producer in India. The brokerage cited the company’s strong portfolio in wind-solar hybrid (WSH) and Firm and Dispatchable Renewable Energy (FDRE) assets.

• Revenue CAGR: 35.5% (FY24-FY26)
• EBITDA CAGR: 33.9% (FY24-FY26)
• PAT CAGR: 0.5% (FY24-FY26)
• Operational capacity: 1,795 MW
• Under construction capacity: 6,115 MW (3.4 times current)
• Projected revenue: ₹6,000-6,500 crore (once fully operational)

Swastika Investmart acknowledged strong growth visibility, noting a ~7.9 GW capacity pipeline and 25-year power purchase agreements (PPAs). A planned ₹1,411 crore debt reduction is expected to boost profitability by lowering interest expenses.

Key Numbers

• Anchor Investment: ₹539.4 crore
• Price Band: ₹214 – ₹225
• Potential Listing Gain: 7.56%
• Domestic MF Anchor Shares: 1.79 crore
• Operational Capacity: 1,795 MW
• Under Construction Capacity: 6,115 MW
• Debt Reduction Plan: ₹1,411 crore