7.89xsubscribed
Juniper Green Energy IPO
7.89xsubscribed
Power Generation/Distribution
listed
7.89xsubscribed
ā¹14,124Min. investment
Juniper Green Energy Limited IPO Details
Sector
Power Generation/Distribution
Issue size
ā¹1,800Cr
IPO type
Mainboard
Market cap
ā¹12,802CrLower than sector avg
Price range
ā¹214 ā ā¹225
Listing exchange
BSE, NSE
RevenueApr 2025 - Mar 2026
ā¹718.93CrLower than sector avg
Listing date
6 Aug 2026
Lot size
66 shares
Red Herring Prospectus
Read
Growth rate3Y CAGR
35.50%Higher than sector avg
SectorPower Generation/Distribution
Price rangeā¹214 ā ā¹225
IPO type
Regular
Lot size66 shares
Issue sizeā¹1,800Cr
Red Herring Prospectus
Read
Market cap
ā¹12,802CrLower than sector avg
RevenueApr 2025 - Mar 2026
ā¹718.93CrLower than sector avg
Growth rate3Y CAGR
35.50%Higher than sector avg
Juniper Green Energy IPO Subscription Status
As on 30-Jul-26, 5:30 PM
Juniper Green Energy IPO Timeline
- Pre-apply28 Jul 2026
- Bid start30 Jul 2026
- Bid end3 Aug 2026
- Allotment4 Aug 2026
- Release of funds5 Aug 2026
- Demat transfer5 Aug 2026
- Listing6 Aug 2026
About Juniper Green Energy Limited
-
- 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 companyās 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 āAā or better rated counter-parties. As of June 30, 2026, the companyās weighted average tariff across its portfolio stood at ā¹3.64/kWh. Technology-wise, the tariff was ā¹2.80/kWh for solar, ā¹3.29/kWh for wind, ā¹3.34/kWh for WSH and ā¹4.46/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.
Indiaās 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 ā¹3.0-3.5/kWh and ā¹3-5/kWh respectively, compared to ā¹2.5-2.6/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 Indiaās 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 ā¹ 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 āDiscoverā
- On the Discover tab, you will find the āInvest in IPOā section
- Under the Invest in IPO section, look for the āJuniper Green Energy IPOā tab and click on it
- Now fill in all the required information, like ābid priceā and ālot sizeā
- Confirm and click on āPre-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 āDiscoverā
- On the āDiscoverā tab, you will find the āInvest in IPOā section
- Under the Invest in IPO section, look for the āJuniper Green Energy IPOā tab and click on it
- Now fill in all the required information, like ābid priceā and ālot sizeā
- Confirm and click on āApplyā
- 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.
Hereās 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 āDiscoverā
- On the āDiscoverā page, you will find the āInvest in IPOā section
- Under the Invest in IPO section, you will find the āView allā option
- Once you click on āView allā, you will be directed to the āIPOā tab
- In the āIPOā tab, click on āMy applicationsā
- In āMy 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
The company comes in the top 10 renewable IPPs with 10,247 MWp of capacity, predominantly comprising premium tariff WSH/FDRE projects with a 96.80% tender conversion rate.
Land bank and grid connectivity
A surplus land bank of 12,000+ acres and grid connectivity of 1,688 MW unallocated make future capacity expansion less risky compared to others.
Fixed-tariff long-term PPAs
97.68% capacity exposure to creditworthy off-takers on fixed tariffs (average ā¹3.64/kWh) for the quickest receivable cycle in the sector.
Ahead of scheduled delivery
Projects completed 147 days ahead of schedule on an average with 99%+ plant/grid availability in FY26.
De-risked supply chain
Direct procurement (GW of First Solar, 200 WTGs from Envision) and exemption from ALMM List-II secure the entire portfolio from increasing module prices.
Objectives of Juniper Green Energy Limited IPO
Investment in subsidiary
40.40%
Repayment of debts
37.90%
General corporate purposes
21.50%
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Company NameJuniper Green Energy Limited
How to apply for Juniper Green Energy IPO?
- Step 1
Log in to your Upstox 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.
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