Juniper Green Energy IPO Opens on July 30

Renewable energy developer Juniper Green Energy has announced the price band for its upcoming Initial Public Offering (IPO), setting it at ₹214–225 per equity share. The public issue will open for subscription on July 30, offering investors an opportunity to participate in one of India's fast-growing clean energy platforms.

IPO Details

The company has fixed the IPO price band at ₹214–225 per share, with the issue scheduled to open on July 30, 2026. The IPO is being managed by ICICI Securities, HSBC Securities and Capital Markets (India), JM Financial, and Kotak Mahindra Capital Company, who are acting as the book-running lead managers.

The proceeds from the IPO are expected to support the company's growth strategy, including investments in renewable energy projects and strengthening its balance sheet.

Strong Financial Performance

Juniper Green Energy has delivered robust financial growth over the past year. For the financial year ended March 2026, the company reported:

• Revenue: ₹718.9 crore, up 41.3% year-on-year
• Net Profit: ₹40.5 crore, reflecting a 10.9% increase over the previous year
  
  Ownership & Structure
• Promoters: Arvind Tiku, Hemant Tikoo, Niharika Tiku (individuals) + AT Holdings Pte. Ltd. and Juniper Renewable Holdings Pte. Ltd. (Singapore entities)
• Pre-issue holding: Juniper Renewable Holdings holds 100% (488.99 million shares) — a genuinely concentrated single-shareholder cap table pre-IPO
• 44 subsidiaries (project SPVs), no listed Group Companies

Business Snapshot (as at May 31, 2025)

• Total capacity: 7,898.45 MW AC / 10,069.58 MWp across 48 projects — ranked top-10 largest renewable IPP in India by total capacity (CRISIL)
  • Operational: 17 projects, 954.30 MW
  • Under Construction Contracted: 18 projects, 3,153.35 MW
  • Under Construction Awarded: 13 projects, 3,790.80 MW
  •  
    • 2,685 MWh planned battery (BESS)
• Portfolio mix by type: FDRE 43.8%, WSH 39.0%, Solar 13.4%, Wind 3.8% — heavy tilt toward complex hybrid/firm-power projects (higher tariffs, ₹3–5/kWh vs. ₹2.5–2.6/kWh for plain solar)
• Geography: Gujarat 41.5%, Rajasthan 31.6%, Maharashtra 20.8%, MP 6.2%
• Off-takers: SJVN, NTPC, NHPC, SECI (central); GUVNL, MSEDCL (state); Tata Power (private) — 97.64% of capacity under long-term (25-yr) PPAs with "A" rated or better counterparties
• Weighted avg tariff: ₹3.63/kWh
• Execution track record: Commissioned ahead of schedule by a weighted average of 136 days
• Land bank: 9,000+ acres (solar) + 300+ WTG sites; grid connectivity secured with surplus headroom (1,588 MW unallocated at CTU level)4

Positioned Among India's Leading Renewable Energy Players

Juniper Green Energy has positioned itself alongside some of India's prominent listed renewable energy companies, including:

• ACME Solar Holdings
• NTPC Green Energy
• Adani Green Energy

The company develops and operates utility-scale renewable energy assets, benefiting from India's continued push towards clean energy generation and decarbonization. As renewable capacity additions accelerate, independent power producers are expected to play a crucial role in meeting the country's long-term energy transition goals.

Outlook

The IPO comes at a time when investor interest in renewable energy companies remains strong, supported by favorable government policies, rising electricity demand, and India's ambitious renewable energy targets. Juniper Green Energy's improving financial performance, expanding project portfolio, and exposure to a high-growth sector could make the offering an attractive opportunity for investors seeking long-term participation in India's energy transition.

With the issue opening on July 30, market participants will closely watch subscription levels and institutional demand as another renewable energy company prepares to enter the public markets.