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Juniper Green Energy IPO
7.89xsubscribed

Juniper Green Energy IPO

Power Generation/Distribution
listed
ā‚¹14,124Min. investment

Juniper Green Energy Limited IPO Details

SectorPower Generation/Distribution
Price rangeā‚¹214 ā€“ ā‚¹225
IPO type
Regular
Lot size66 shares
Issue sizeā‚¹1,800Cr
Red Herring Prospectus
Read
Market cap
ā‚¹12,802CrLower than sector avg
RevenueApr 2025 - Mar 2026
ā‚¹718.93CrLower than sector avg
Growth rate3Y CAGR
35.50%Higher than sector avg

Juniper Green Energy IPO Subscription Status

Date
QIB
NII
Retail
Total
30-Jul-26
1.0 times (X)
0.04 times (X)
0.1 times (X)
0.35 times (X)
31-Jul-26
1.0X
0.07X
0.18X
0.39X
03-Aug-26
18.98X
1.75X
0.77X
7.89X

As on 30-Jul-26, 5:30 PM

Juniper Green Energy IPO Timeline

  1. Pre-apply
    28 Jul 2026
  2. Bid start
    30 Jul 2026
  3. Bid end
    3 Aug 2026
  4. Allotment
    4 Aug 2026
  5. Release of funds
    5 Aug 2026
  6. Demat transfer
    5 Aug 2026
  7. Listing
    6 Aug 2026

About Juniper Green Energy Limited

    1. Juniper Green Energy develops, builds, operates and maintains large-scale renewable energy projects through its own in-house EPC and O&M teams. The company is among the top 10 largest renewable independent power producers (IPPs) in India based on total capacity as of March 31, 2026, which includes operational, under-construction, contracted and awarded projects.
Incorporated in 2011 as a management consultancy under the name AT Capital Advisory India Private Limited. The company entered the renewable energy business in 2018, when it won its first solar bid in Maharashtra. It was subsequently renamed Juniper Green Energy Private Limited in December 2018. The company operates through a large number of wholly owned, project-specific subsidiaries or SPVs. Its two directly held operating entities are Juniper Green Sigma Private Limited and Nisagra Renewable Energy Private Limited, along with several other subsidiaries.
Juniper Green Energy earns revenue by selling electricity to central and state government-backed entities as well as private off-takers. The company commissioned its first solar project of 100 MW (144.97 MWp) in March 2020 and has since expanded its portfolio to 7,910.20 MW (10,247.06 MWp) as of June 30, 2026. Its portfolio includes solar, wind and more complex renewable projects such as Wind-Solar Hybrid (WSH) and Firm and Dispatchable Renewable Energy (FDRE) projects supported by Battery Energy Storage Systems (BESS).
The company is the second-largest bidder by capacity won in WSH and FDRE tenders concluded between April 1, 2021 and March 31, 2026. It achieved a 96.80% conversion rate on the WSH and FDRE tenders it won during this period.
As of June 30, 2026, the company had a total portfolio of 50 projects which include 20 operational projects with a capacity of 1,794.80 MW/2,408.91 MWp, 19 under construction contracted projects with a capacity of 2,875.40 MW/3,656.65 MWp, and 11 under construction awarded projects with a capacity of 3,240.00 MW/4,181.50 MWp. The company also has a planned BESS capacity of 4,563.88 MWh.
Technology-wise, the portfolio consists of 18 solar projects with 1,350.09 MWp, accounting for 13.18% of the total portfolio; six wind projects with 432.15 MWp, or 4.22%; 17 WSH projects with 3,931.92 MWp, or 38.37%; and 9 FDRE projects with 4,532.90 MWp, or 44.24%. The company is increasingly focusing on more complex hybrid renewable projects rather than relying only on traditional solar and wind projects.
The company's projects are mainly located in Gujarat, Rajasthan, Madhya Pradesh and Maharashtra. As of June 30, 2026, these states accounted for 38.1%, 37.7%, 1.9% and 22.3% of total capacity, respectively. The company made up 46.3% of revenue from Maharashtra, followed by Gujarat at 40.1% and Rajasthan at 13.4% in FY26. The company has also built a land bank of more than 12,000 acres for solar projects and has identified over 300 WTG locations across these states.
The companyā€™s customer base includes central government entities such as SECI, SJVN, NHPC and NTPC, state entities such as GUVNL and MSEDCL and private customers such as Tata Power Company.
As of June 30, 2026, 97.6% of total capacity (in MWp) has long-term PPAs (typically 25-year tenure). These PPAs are mainly with ā€œAā€ or better rated counter-parties. As of June 30, 2026, the companyā€™s weighted average tariff across its portfolio stood at ā‚¹3.64/kWh. Technology-wise, the tariff was ā‚¹2.80/kWh for solar, ā‚¹3.29/kWh for wind, ā‚¹3.34/kWh for WSH and ā‚¹4.46/kWh for FDRE. In terms of AC capacity, central off-takers accounted for 72.5%, state discoms for 22.6%, and private/merchant customers for the remaining capacity.
Indiaā€™s renewable energy sector is poised for a boom, with peak power demand expected to grow at a CAGR of 6 to 7% till FY31, requiring 302 to 312 GW of new capacity, of which 260 to 275 GW is expected to come from renewable energy. The sector is moving more towards WSH and FDRE projects with higher tariffs of ā‚¹3.0-3.5/kWh and ā‚¹3-5/kWh respectively, compared to ā‚¹2.5-2.6/kWh for standalone solar. But key challenges persist in the form of limited transmission capacity, land and forest clearances and supply chain constraints, with grid connectivity in renewable-rich states possibly delayed till FY30. Increasing volumes of power exchange and Indiaā€™s renewable energy target of 450.00 GW by 2030 offer further opportunities. ALMM List-II requirement may increase project costs in the near term on account of higher domestic module prices.
The company plans to benefit from India's target of achieving 450 GW of renewable energy capacity by 2030 and also aims to expand and diversify its portfolio by entering areas such as power trading, energy storage and green hydrogen exploration. Further, it plans to strengthen its supply chain by building long-term relationships with suppliers and intends to use digital technologies such as IIoT and AI/ML for predictive maintenance and better generation forecasting.
Now, Juniper Green Energy is launching its initial public offering (IPO), which consists of a fresh issue of ā‚¹ 1,800 crore only. Its shares will be listed on the NSE and BSE.

How to pre-apply for Juniper Green Energy IPO?

You can pre-apply for Juniper Green Energy IPO on Upstox. The pre-application for this IPO, which means the pre-apply open date, usually begins a day before the IPO opens for subscription.
Follow these steps to pre-apply for the IPO:
  • Login to your Upstox account, using your six-digit PIN
  • After successfully logging in, click on ā€˜Discoverā€™
  • On the Discover tab, you will find the ā€˜Invest in IPOā€™ section
  • Under the Invest in IPO section, look for the ā€˜Juniper Green Energy IPOā€™ tab and click on it
  • Now fill in all the required information, like ā€˜bid priceā€™ and ā€˜lot sizeā€™
  • Confirm and click on ā€˜Pre-Applyā€™
  • Accept the mandate on your UPI app

How to apply for Juniper Green Energy IPO?

If you are interested in this investment opportunity but unsure how to apply for Juniper Green Energy IPO, here are the steps that you need to follow.
When the public issue opens for subscription, one can follow this step-by-step guide on how to apply for Juniper Green Energy IPO on Upstox:
  • Log in to your Upstox account, using your six-digit PIN
  • After logging in, click on ā€˜Discoverā€™
  • On the ā€˜Discoverā€™ tab, you will find the ā€˜Invest in IPOā€™ section
  • Under the Invest in IPO section, look for the ā€˜Juniper Green Energy IPOā€™ tab and click on it
  • Now fill in all the required information, like ā€˜bid priceā€™ and ā€˜lot sizeā€™
  • Confirm and click on ā€˜Applyā€™
  • Accept the mandate on your UPI app

How to check the Juniper Green Energy IPO allotment status?

When the allotment process is completed, you can check the status of your application on the Upstox app. Share allotment is generally completed on the next working day after an IPO closes.
Hereā€™s a step-by-step guide on how to check the Juniper Green Energy IPO allotment status:
  • Login to your Upstox account, using your six-digit PIN
  • After logging in, click on ā€˜Discoverā€™
  • On the ā€˜Discoverā€™ page, you will find the ā€˜Invest in IPOā€™ section
  • Under the Invest in IPO section, you will find the ā€˜View allā€™ option
  • Once you click on ā€˜View allā€™, you will be directed to the ā€˜IPOā€™ tab
  • In the ā€˜IPOā€™ tab, click on ā€˜My applicationsā€™
  • In ā€˜My applicationsā€™, under the History section, your Juniper Green Energy IPO allotment status will be mentioned

Juniper Green Energy Limited IPO Analysis

IPO REVIEW

Juniper Green Energy IPO | Analysis Video

Should you apply?

Watch our analysts break down the Juniper Green Energy Limited IPO ā€” business model, financials, valuation and key risks ā€” to help you decide whether to apply. The video covers the IPO price band, important dates, and what the subscription numbers mean for retail investors.

Checklist

Quality analysis
Revenue growth
Company valuation
Earnings expansion
Risk analysis
Debt to Equity ratio
Promoter holdings
Shares pledged
The investment checklist helps you understand a company's financial health at a glance and identify quality investment opportunities easily

Strength and Weakness

Top 10 renewable IPP, diversified portfolio
Land bank and grid connectivity
Fixed-tariff long-term PPAs
Ahead of scheduled delivery
De-risked supply chain

Objectives of Juniper Green Energy Limited IPO

Investment in subsidiary
40.40%
The company will invest ā‚¹728.68 crore in three subsidiaries to repay their borrowings.
Repayment of debts
37.90%
The company will use ā‚¹683.23 crore for repayment of certain borrowings availed by the company.
General corporate purposes
21.50%
Part of the IPO proceeds will be used for general corporate purposes and issue expenses

Compare

CompanyRevenue*3Y growthPATMarket capP/E ratioD/E ratio
This IPOā‚¹718.93Cr35.50%ā‚¹40.46Crā‚¹12,802Cr271.083.77
This sector (avg.)ā‚¹7,783.3Cr0.01%ā‚¹1,281.2Crā‚¹38,103.65Cr45.352.10
ā‚¹1,88,138.06Cr---ā‚¹20,251.23Crā‚¹3,45,201.3Cr14.281.36
ā‚¹45,792.32Cr---ā‚¹15,245.13Crā‚¹2,38,560.5Cr15.691.41
ā‚¹11,212Cr---ā‚¹1,557Crā‚¹1,40,388.8Cr98.956.59

*Revenue for financial year 2025-26. Lower P/E and D/E ratios are generally preferred.

Juniper Green Energy IPO Contact Details

Company NameJuniper Green Energy Limited

How to apply for Juniper Green Energy IPO?

  1. Step 1

    Log in to your Upstox account to access IPO investments. Next, select the current IPO section.

  2. Step 2

    Specify IPO details. Enter the number of lots and the price you wish to apply for.

  3. Step 3

    Enter UPI ID. After entering your UPI ID, click submit. This will place your bid with the exchange.

  4. Step 4

    Mandate Notification. Your UPI app will receive a mandate notification to block funds.

  5. Step 5

    Approve Request. Your funds will be blocked once you approve the mandate request on your UPI.

Juniper Green Energy Limited IPO FAQs

Investors can apply for the Juniper Green Energy IPO through their Demat account via the stock exchange or through their broker.
The issue size of the Juniper Green Energy IPO is 1800 Cr.
Pre-applying for an IPO allows you to submit your application before the official subscription period begins.
The IPO shares will typically list on major stock exchanges such as the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE), as specified in the IPO prospectus.
Juniper Green Energy IPO will be open between 2026-07-30 and 2026-08-03.
Juniper Green Energy IPO allotment date is 2026-08-05. For Juniper Green Energy IPO allotment status check, you can visit the website of the registrar of the IPO.
For Juniper Green Energy IPO, the IPO registrar is KFin Technologies Limited. You can check Juniper Green Energy IPO allotment status on the website of the registrar.
The shares are proposed to be listed on the BSE and NSE.
The Juniper Green Energy IPO shares will typically be credited to your demat account one working day before the IPO's listing date, provided your application is successfully allotted.
The Juniper Green Energy IPO lot size is 66 and minimum order quantity is 66.
Juniper Green Energy IPO has set the price band for its IPO at 225 per equity share with a face value of 10.