Juniper Green Energy Slashes IPO By 40% Under SEBI's New Rules

Juniper Green Energy has reduced the size of its initial public offering (IPO) from ₹3,000 crore to ₹1,800 crore after filing revised draft papers with the Securities and Exchange Board of India (SEBI). The revision comes after the market regulator introduced a framework allowing companies to change the size of a fresh issue without filing a new draft red herring prospectus (DRHP).

The revised fundraising plan also changes how the company intends to deploy the proceeds, with a larger share now earmarked for debt repayment.

Why Has Juniper Green Energy Revised Its IPO Plan?

Juniper Green Energy first filed its draft papers with SEBI in June 2025. The company had then proposed a ₹3,000 crore fresh issue.

Back then, the plan was weighted towards expansion. One portion was earmarked for investment in its subsidiaries, while the remaining was set aside to repay borrowings and for general corporate purposes.

This changed after SEBI introduced its new framework in April 2026. Under the framework, companies were allowed to revise the size of a fresh issue by up to 50% without filing a fresh DRHP.

Hence, Juniper Green Energy applied for the revision in May 2026. The company has now received approval to update its existing draft papers instead of submitting a fresh DRHP.

As per the revision, the fresh issue has been reduced to ₹1,800 crore. Of this, ₹1,411.9 crore will be used to repay or prepay borrowings of the company and its subsidiaries. The remaining proceeds will go towards general corporate purposes.

The revised allocation comes as the company's debt has risen sharply over the past year. The company's borrowings have increased from ₹5,894.2 crore in May 2025 to ₹13,266 crore as of June 2026.

Who Is Juniper Green Energy?

Juniper Green Energy Private Limited came into existence in 2018. The company develops renewable energy projects across India. It has a presence in the solar, wind and hybrid power segments.

The company is backed by AT Capital Group, a London-based investment group. It develops projects for both state and central agencies and has expanded its renewable energy portfolio through operational assets as well as projects under development.

What Should Investors Watch Before The IPO Opens?

A large part of the revised issue will be used to repay the borrowings of the company and its subsidiaries. That could help bring down the company's debt over time. It also means less money will now go towards investments in subsidiaries than originally planned.

At the same time, the company's borrowings are much higher than they were when the first DRHP was filed. Investors may want to look at its debt levels, financial performance and cash flows before the issue opens. More details, including the price band, issue dates and the final offer document, are expected closer to the IPO launch.

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