Juniper Green Energy Ltd
IPO Snapshot
Key metrics and details at a glance.
Price Band
₹225
Per ShareLot Size
66 Shares
Minimum Investment
₹14,850
Issue Size
₹1,800 Cr
Face Value
₹10
Per ShareIPO Type
Book Building
Retail Quota
35%
QIB Quota
50%
NII Quota
15%
IPO Timeline
Important dates for your applying strategy.
Subscription Status
Live demand across investor categories.
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*Real-time data subject to exchange updates
Juniper Green Energy Ltd
Business model, operations, and market positioning.
About the Company
We are an independent power producer ("IPP") in India which develops, builds, operates and maintains utility scale renewable energy projects through our in-house engineering, procurement and construction and operations and maintenance teams, and generate revenue through the sale of electricity to various off-takers, including central and state government-backed entities. Our portfolio of projects include wind, solar, wind-solar hybrid, firm and dispatchable renewable energy and battery energy storage systems. We are among the top 10 largest renewable IPPs in India in terms of total capacity as at December 31, 2024, where total capacity includes operational, under construction contracted and awarded projects.
Industry Overview
India's renewable energy sector is central to its sustainable development agenda, harnessing clean sources that generate electricity without the harmful emissions linked to fossil fuels. With the accelerated adoption of renewables, India seeks to reduce carbon emissions, supporting global climate change mitigation. Unlike limited conventional fuels, renewable sources are plentiful throughout India, from Rajasthan's solar-rich regions to the wind corridors of Gujarat and Tamil Nadu. Strong policy support, including the National Solar Mission and a 2030 goal of 500 GW non-fossil capacity, drives this growth, boosting energy security, economic progress and the nation's move towards sustainability.
Company History
Our Company was originally incorporated as "AT Capital Advisory India Private Limited" as a private limited company under the provisions of the Companies Act, 1956, pursuant to a certificate of incorporation dated December 5, 2011, issued by the Registrar of Companies, National Capital Territory of Delhi and Haryana at New Delhi. Subsequently, the name of our Company changed to "Juniper Green Energy Private Limited", pursuant to a board resolution dated November 22, 2018 and a shareholders' resolution dated November 28, 2018 to reflect a shift in our focus towards streamlining of our business and a fresh certificate of incorporation was issued by the Registrar of Companies, Delhi and Haryana at New Delhi ("RoC") on December 8, 2018. Upon the conversion of our Company from a private limited company to a public limited company, pursuant to a Board resolution dated May 13, 2025 and a special resolution passed by our Shareholders in the extra-ordinary general meeting May 22, 2025, the name of our Company was changed to "Juniper Green Energy Limited", and a fresh certificate of incorporation dated May 26, 2025 was issued by the Registrar of Companies, Central Processing Centre.
Growth Strategy
- Capitalize on the growing renewable energy sector in India.
- Expand and diversify our portfolio of projects and gain market share.
- Continue to invest in our supply-chain and procure critical components on time and in a cost-effective manner.
- Integrating advanced digital technologies into our renewable energy operations.
- Continue to diversify our funding sources, optimize our cost of capital and identify partners/investors for future growth.
Promoter Holding (Pre-Issue)
100%
Promoter Holding (Post-Issue)
85.94%
Issue Type
Book Building
ISIN
INE05C901015
Financial Performance
Revenue, profit, and asset growth over the last three financial years.
Data presented in crores for FY20 to FY24.
Objects of the Issue
How the company plans to utilize IPO proceeds.
The funds raised through this IPO will be used for:
Initial public offer of 80,009,150 equity shares of face value of Rs. 10 each ("Equity Shares") of Juniper Green Energy Limited ("Company") for cash at a price of Rs. 225 per equity share of face value of Rs. 10 each (including a securities premium of Rs. 215 per equity share) ("Issue Price") aggregating to Rs. 1800.00 Crores ("Fresh Issue" or the "Issue"). The issue constituted 14.06% of the post-issue paid-up equity share capital of the company. The company, in consultation with the brlms, may consider a further issue of specified securities to certain investors for an amount aggregating up to Rs.600.00 crores ("Pre-IPO Placement"), as permitted under applicable laws on or prior to the date of filing of the pre-ipo placement, if undertaken, will be at a price to be decided by the company, in consultation with the brlms. If the pre-ipo placement is completed, the amount raised pursuant to the pre-ipo placement will be reduced from the issue, subject to compliance with Rule 19(2)(b) of the scrr. the pre-ipo placement, if undertaken, shall not exceed 20% of the size of the issue. Prior to the completion of the issue, the company shall appropriately intimate the subscribers to the pre-ipo placement, prior to allotment pursuant to the pre-ipo placement, that there is no guarantee that the company may proceed with the issue or the issue may be successful and will result into listing of the equity shares on the stock exchanges. Further, relevant disclosures in relation to such intimation to the subscribers to the pre-ipo placement (If Undertaken). The issue includes a reservation of up to 88,889 equity shares of face value of Rs. 10 each, aggregating up to Rs. 2 Crores (constituting up to [*]% of the post-issue paid-up equity share capital), for subscription by eligible employees ("Employee Reservation Portion"). The issue less the employee reservation portion is hereinafter referred to as the "Net Issue". The issue and the net issue shall constitute [*]% and [*]% of the post-issue paid-up equity share capital of the company, respectively. The company may in consultation with the brlms, offer a discount of Rs.[*] on the issue price to eligible employees bidding in the employee reservation portion ("Employee Discount"). Price Band: Rs. 225 per equity share of face value of Rs. 10 each. The floor price is 22.5 times of the face value of the equity shares. Bids can be made for a minimum of 66 equity shares of face value of Rs. 10 each and in multiples of 66 equity shares of face value of Rs. 10 each thereafter. A discount of Rs. 21 per equity share is being offered to eligible employees bidding in the employee reservation portion.
*Subject to approvals and market conditions.
- We are amongst the top 10 renewable energy independent power producers in India in terms of our Total Capacity as at December 31, 2024 with a focus on complex renewable energy projects.
- Proven ability to secure land and establish robust connectivity well in advance.
- We have long-term power purchase agreements with central and state government off-takers and fixed tariff structures, enabling long-term and stable cash flows.
- We have a track record of delivering projects ahead of schedule which is backed by our end-to-end inhouse capabilities in developing and operating renewable energy projects.
- Established supply chain de-risking strategy, ensuring timely procurement and quality of the critical components.
- A significant portion of the company's revenue from operations is derived from the sale of electricity generated at its projects and the company's top two off-takers collectively contributed 86.06%, 91.11% and 97.00% of its revenue from operations for Fiscals 2026, 2025 and 2024, respectively. The loss of any such key commercial relationships could adversely affect the company's business, results of operations, financial condition and cash flows.
- The company's business is dependent on suppliers for the procurement of critical components, equipment, material and other goods for the operation of its projects as well as for other business operations. The company's top 10 suppliers collectively contributed to 84.42%, 79.99% and 87.52% of its total purchases for Fiscals 2026, 2025 and 2024, respectively. Interruptions in the supply of the company's critical components and other goods could adversely affect its business operations, financial position and cash flows.
- The company's Corporate Promoter, Juniper Renewable Holdings Pte. Ltd. has encumbered some of its Equity Shares in favor of the Indian Renewable Energy Development Agency Limited. In the event that any encumbrance is enforced, it may dilute the shareholding of its Corporate Promoter, which could adversely affect the company's business and reputation.
- The company's renewable energy projects is located in the states of Gujarat, Maharashtra, Rajasthan and Madhya Pradesh. Any change in governmental policies or occurrence of natural disasters in any of these states may impact its business, cash flows, financial condition and results of operations.
- The company's development of renewable energy projects may be restrained by its inability to identify or acquires suitable land sites. If the company is unable to identify suitable land on commercially acceptable terms, its ability to develop new renewable energy projects on a timely basis or at all might be affected, which could result in the imposition of liquidated damages and/or reductions in tariffs which could adversely affect the company's business, financial condition, cash flows and results of operations.