Juniper Green Energy IPO Subscription Status Day 1: Retail Leads at 6%, Issue Booked Over 3%

The initial public offering of Juniper Green Energy opened for subscription on Thursday, July 30, according to the exchange schedule. The price band has been fixed at ₹214 to ₹225 per equity share, with a lot size of 66 shares and multiples thereafter, translating to a minimum retail investment of ₹14,850 at the upper end of the band.

The ₹1,800 crore issue is entirely a fresh issue of 8 crore equity shares, with no offer-for-sale component, according to the offer document. Of the net offer, 50 percent has been reserved for qualified institutional buyers (QIBs), 15 percent for non-institutional investors (NIIs) and 35 percent for retail individual investors.

Ahead of the opening, Juniper Green Energy raised ₹539.4 crore from anchor investors, according to the anchor allocation disclosure. Participants included the Abu Dhabi Investment Authority, Nippon India Mutual Fund, ICICI Prudential Mutual Fund, SBI Mutual Fund, WhiteOak Capital, Bajaj Life Insurance, Tata AIG General Insurance Company and HDFC Life Insurance Company. Domestic mutual funds accounted for the majority of the anchor allocation, receiving 1.79 crore equity shares, or 74.79 percent of the anchor portion, across 24 schemes from nine fund houses.

By 11:30 am on Day 1, the issue had been subscribed over 3 percent overall, with retail investors leading demand at 6 percent and non-institutional investors at 2 percent, according to data from the NSE. The issue saw bids for 20,43,228 shares against the 5,89,16,709 shares on offer.

Subscription Status Day 1

Book Running Lead Managers

ICICI Securities, HSBC Securities, JM Financial and Kotak Mahindra Capital Company are the book-running lead managers to the Juniper Green Energy IPO, while KFin Technologies is serving as the registrar to the issue.

Conclusion

Bidding for the Juniper Green Energy IPO remains open, with QIB demand one to watch as the book builds through the remaining sessions. The basis of allotment is expected to be finalised on August 4, followed by refunds and credit of shares to demat accounts on August 5, ahead of a scheduled listing on BSE and NSE on August 6.

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