Juniper Green Energy IPO

About Juniper Green Energy IPO

The Juniper Green Energy IPO, a mainboard IPO, opens on Thursday, July 30, 2026 and closes on Monday, August 3, 2026. The allotment of shares will take place on Tuesday, August 4, 2026. The credit of shares to the demat account will take place on Wednesday, August 5, 2026. The initiation of refunds will take place on Wednesday, August 5, 2026. The listing of shares will take place on Thursday, August 6, 2026.

The equity shares offered through the IPO are proposed to be listed on the BSE and the NSE.

The offer consists of a fresh issue component. The fresh issue will include 8,00,00,000 shares aggregating up to ₹1,800 crores. The total number of shares is 8,00,00,000.

Juniper Green Energy IPO's price band is set at ₹214 to ₹225. The lot size for an application is 66 shares. The minimum amount of investment required by a retail investor is ₹14,850 (based on the upper price band). The minimum investment required by an sNII is 924 shares, amounting to ₹2,07,900.

Juniper Green Energy is among the top 10 largest renewable independent power producers in India in terms of total capacity as at March 31, 2026. The Company develops, builds, operates, and maintains utility-scale renewable energy projects through its in-house EPC and O&M teams, and earns revenue from the sale of electricity to central and state government-backed off-takers.

Objectives of Juniper Green Energy IPO

• Repayment or pre-payment, in full or in part, of certain borrowings availed by the company.
  
• Investment in one of its Material Subsidiaries, Juniper Green Gamma One Private Limited, and its Subsidiaries Juniper Green Kite Private and Juniper Green Power Five Private Limited, for repayment or pre-payment, in full or in part, of all or a portion of certain of their outstanding borrowings.
  
• General corporate purposes.
  

Industry Outlook

India's installed renewable energy capacity, including large hydro, rose from 114 GW in Fiscal 2018 to 275 GW in Fiscal 2026, a CAGR of 11.51%. Solar led that build-out. Cumulative solar additions over Fiscals 2019 to 2026 came to approximately 129 GW, against roughly 22 GW from wind and about 8 GW from other renewable sources over the same period. Demand is the pull factor. Crisil Intelligence expects power demand to expand at a CAGR of 5–6%, with peak demand growing at approximately 6–7% annually between Fiscal 2026 and Fiscal 2031 to reach 335–345 GW.

Capital is following that demand into renewables. More than 80% of new capacity additions are expected to come from renewable energy by Fiscal 2031, with renewable capacity excluding large hydro adding approximately 260–275 GW. Total installed capacity across all sources is expected to reach approximately 835–845 GW by Fiscal 2031. Renewables excluding large hydro would then account for 52–57% of the mix.

The Central Government targets 500 GW of non-fossil-fuel capacity by 2030. Against that backdrop, Juniper Green Energy held 6,095.00 MW of secured grid permits at the Central Transmission Utility level as of June 30, 2026, against a requirement of approximately 4,407.00 MW for its Under Construction Projects.

About Juniper Green Energy

Juniper Green Energy was incorporated in December 2011 and commissioned its first solar project, of 100 MW (144.97 MWp), in March 2020. It operates on a build-own-operate model, entering into power purchase agreements with off-takers and generating revenue from the sale of electricity. As of June 30, 2026, its portfolio comprised 50 projects with a total capacity of 7,910.20 MW (10,247.06 MWp), of which 20 projects with 1,794.80 MW (2,408.91 MWp) were operational, 19 were under construction and contracted at 2,875.40 MW (3,656.65 MWp), and 11 were under construction and awarded at 3,240.00 MW (4,181.50 MWp). Planned battery energy storage across these projects totals 4,563.88 MWh.

Strengths of Juniper Green Energy

• The company ranks among the top 10 renewable energy independent power producers in India by total capacity.
• A 96.80% conversion rate on wind-solar hybrid and firm and dispatchable renewable energy tenders won between April 1, 2021 and March 31, 2026 places the company second by total capacity won in those tender categories.
• A land bank of more than 12,000 acres for solar installation and more than 300 wind turbine generator locations across Gujarat, Rajasthan, Maharashtra, and Madhya Pradesh supports the development pipeline.
• Operational projects have been commissioned ahead of schedule by a weighted average of 147 days, with one solar project commissioned 552 days early and one wind project 222 days early.
• Long-term power purchase agreements of 25 years with central and state government off-takers.

Risks of Juniper Green Energy

• hanges in the prices of solar modules, wind turbines, inverters, and other materials, or supplier underperformance, could increase project costs and delay execution.
• Construction delays or higher-than-expected financing and construction costs could adversely impact the Company's business, cash flows, and financial performance.
• The Company's borrowings carry variable interest rates, making it vulnerable to rising interest costs and lower cash flows.
• Acquisitions or divestments may expose the Company to integration, execution, and financial risks that could affect its business and operations.
• Delays in tariff approvals by regulatory authorities after receiving letters of award could adversely impact the Company's business, cash flows, and results of operations.

Anchor Investor Bidding Date

Anchor Investor Bidding Date: Wednesday, July 29, 2026

IPO Registrar and Book Running Lead Managers

IPO Registrar
KFin Technologies Limited
Phone: 040-79615565
Email: junipergreen.ipo@kotak.com

Book Running Lead Managers

• ICICI Securities Limited
  
• HSBC Securities and Capital Markets (India) Private Limited
  
• JM Financial Limited
  
• Kotak Mahindra Capital Company Limited
  

Juniper Green Energy Contact Details
1103A & 1103B, 11th, Floor, Hemkunt Chamber, 89, Nehru
Place, New Delhi 110 019, Delhi, India
E-mail: investors@junipergreenenergy. com
Phone: +91 124 473 9600

Juniper Green Energy Business Model

Its customer base is concentrated in creditworthy government counterparties. As at June 30, 2026, central agencies SJVN, NTPC, NHPC, and SECI accounted for 72.50% of AC capacity, state distribution utilities GUVNL and MSEDCL for 22.64%, and private off-taker TPCL for 2.72%. A further 2.15% of capacity is sold on a merchant basis through power exchanges such as IEX or under short-term agreements. Strategic differentiation comes from complex project types: firm and dispatchable renewable energy and wind-solar hybrid tenders carry expected tariffs of ₹3–5 per kWh against ₹2.5–2.6 per kWh for standalone solar using imported cell-based modules.

Juniper Green Energy Growth Trajectory

Juniper Green Energy Limited's Total Income for FY26 was ₹804.93 crores, whereas in FY25 and FY 24 it was ₹569.78 crores and ₹424.45 crores, respectively.

The Profit After Tax for FY26 was ₹40.46 crores, whereas in FY25 and FY24 it was ₹36.48 crores and ₹40.06 crores, respectively.

Their EBITDA for FY26 was ₹692.18 crores, whereas in FY25 and FY24 it was ₹485.69 crores and ₹370.84 crores, respectively.

Juniper Green Energy Market Position

The Company ranks second by total capacity won in wind-solar hybrid and firm and dispatchable renewable energy tenders concluded between April 1, 2021 and March 31, 2026. Its 50 projects are located in Gujarat, Maharashtra, Rajasthan, and Madhya Pradesh — states that together account for around 41% of India's solar energy potential and more than 63% of its installed solar capacity, and around 60% of India's wind energy potential and approximately 54% of its installed wind capacity as at March 31, 2026.

As of 31 March 2026, the company's Total Income, Profit After Tax, and EBITDA were ₹804.93 crores, ₹40.46 crores, and ₹692.18 crores, respectively.

How to apply for Juniper Green Energy IPO?

• Step 1: Log in to your Kotak Neo Demat account to access IPO investments. Next, select the current IPO section.
• Step 2: Specify IPO details. Enter the number of lots and the price you wish to apply for.
• Step 3: Enter UPI ID. After entering your UPI ID, click submit. This will place your bid with the exchange.
• Step 4: Mandate Notification. Your UPI app will receive a mandate notification to block funds.
• Step 5: Approve Request. Your funds will be blocked once you approve the mandate request on your UPI.