Juniper Green Energy IPO Review 2026: Financials, Strengths & Risks
Juniper Green Energy IPO is a mainboard offer from a New Delhi-headquartered independent power producer that develops, builds, and operates solar, wind, and hybrid renewable energy projects across India. The ₹1,800 crore issue is entirely a Fresh Issue, meaning the full amount raised flows into the company itself — there is no Offer for Sale component, so promoter shareholding will only be diluted, not sold down, through this IPO.
For live subscription numbers and the application link, visit the Juniper Green Energy IPO page on IPO Ji. You can also track it alongside other live offers on the IPO Calendar and the full IPO List.
Juniper Green Energy IPO – Quick Overview
| IPO Name | Juniper Green Energy IPO |
|---|---|
| Price Band | ₹215 to ₹225 per equity share |
| Lot Size | 66 shares |
| Minimum Investment | ₹14,850 at the upper price band for retail investors (1 lot) |
| Total Issue Size | ₹1,800 crore — entirely a Fresh Issue of 8,00,00,000 shares |
| Anchor Bidding Date | July 29, 2026 |
| IPO Open Date | July 30, 2026 |
| IPO Close Date | August 3, 2026 |
The entire issue of 8,00,00,000 shares, aggregating up to ₹1,800 crore, is a Fresh Issue — there is no Offer for Sale component, so all net proceeds go to the company rather than to selling shareholders. Retail investors can bid for a minimum of 1 lot (66 shares, ₹14,850) and a maximum of 13 lots (858 shares, ₹1,93,050) at the upper price band.
KFin Technologies Limited is the registrar for the issue, while ICICI Securities Ltd, HSBC Securities & Capital Markets (India) Pvt. Ltd, JM Financial Ltd, and Kotak Mahindra Capital Co. Ltd. are the book running lead managers. For the complete lot-size table, live subscription tracker, and application link, see the Juniper Green Energy IPO detail page on IPO Ji. Grey market activity ahead of listing can be tracked on the IPO GMP page.
About Juniper Green Energy Limited
Juniper Green Energy is an independent renewable energy power producer focused on developing, building, and operating solar, wind, and hybrid power projects across India. The company manages the entire renewable energy project lifecycle in-house, spanning bidding and auction, site prospecting, land acquisition and grid permits, engineering and technology, procurement, project financing, plant construction and commissioning, and operations and maintenance.
The company has secured long-term power purchase agreements (PPAs) with government bodies including SECI, SJVN, NHPC, and NTPC, as well as private clients such as Tata Power Company Limited. As of May 31, 2025, Juniper Green Energy held a portfolio asset capacity of 7,898.45 MW, with its geographical footprint spread across Gujarat, Rajasthan, Maharashtra, and Madhya Pradesh.
Juniper Green Energy Limited was originally incorporated in December 2011 as AT Capital Advisory India Private Limited and was renamed Juniper Green Energy Private Limited in 2018 before converting to a public limited company in May 2025. The company's promoters — Arvind Tiku, Hemant Tikoo, Niharika Tiku, AT Holdings Pte. Ltd., and Juniper Renewable Holdings Pte. Ltd. — hold 100% of the company pre-issue, a stake expected to decline to approximately 85.94% after the IPO.
Juniper Green Energy IPO Financial Performance
- Revenue increased from ₹424.45 crore in FY24 to ₹569.78 crore in FY25 to ₹804.93 crore in FY26.
- Profit after tax stood at ₹40.06 crore in FY24, declined to ₹36.48 crore in FY25, and rose to ₹40.46 crore in FY26.
- Total assets grew sharply from ₹4,986.44 crore in FY24 to ₹10,356.81 crore in FY25 to ₹19,538.45 crore in FY26.
- Net worth increased from ₹108.21 crore in FY24 to ₹116.29 crore in FY25 to ₹122.89 crore in FY26.
- Reserves and surplus rose from ₹1,555.14 crore in FY24 to ₹2,870.91 crore in FY25 to ₹2,934.89 crore in FY26.
- Total borrowings increased significantly, from ₹2,671.70 crore in FY24 to ₹5,502.53 crore in FY25 to ₹12,920.54 crore in FY26.
Source: RHP/DRHP financials and the IPO Ji Juniper Green Energy detail page.
Juniper Green Energy IPO Key Strengths
- Leading renewable energy independent power producer: The company ranks among the top 10 renewable energy IPPs operating in India, with a diversified mix of solar, wind, and hybrid projects.
- Project development capability: A demonstrated ability to acquire land and secure grid connectivity well ahead of project execution, supporting efficient and timely project delivery.
- Long-term power purchase agreements: PPAs with central and state government bodies as well as private companies provide revenue stability and shield the company from merchant power price volatility.
- End-to-end in-house capabilities: The company manages every stage of the renewable project lifecycle internally, from bidding through operations and maintenance.
Juniper Green Energy IPO Key Risks
- High dependence on key power off-takers: A majority of revenue comes from a limited number of power off-takers; the loss of any key commercial relationship could materially affect operations and cash flow.
- Dependency on competitive auctions: Future growth hinges on successfully bidding for renewable energy projects through competitive auction processes.
- Project execution risk: Growth depends on the timely execution and completion of renewable energy projects; delays could adversely affect the business.
- Rising borrowings alongside asset growth: Total borrowings grew nearly fivefold between FY24 and FY26 as the asset base expanded, a leverage trend investors should weigh against the company's revenue and profit growth over the same period.
- Thin profitability relative to asset growth: Profit after tax has grown modestly (₹40.06 crore in FY24 to ₹40.46 crore in FY26) even as total assets nearly quadrupled, reflected in a post-IPO RoNW of 1.18%.
Juniper Green Energy IPO Review: Our Take
Juniper Green Energy operates as an independent power producer in India’s renewable energy sector, with a portfolio of 7,898.45 MW and long-term power purchase agreements with government and private-sector off-takers. The company’s revenue increased consistently from FY24 to FY26. Since the IPO consists entirely of a Fresh Issue, the ₹1,800 crore proceeds are proposed to be used mainly for repayment of borrowings at the company and subsidiary levels.
The company’s total borrowings have also increased as its asset base has expanded, while its return on net worth remains relatively modest compared with some listed renewable energy companies. Investors may consider factors such as the company’s project portfolio, long-term PPA arrangements, debt levels, financial performance, subscription data, and the risks disclosed in the RHP before making an investment decision.
Investors should review the financials, peer valuations, and their own risk appetite before making a decision. This content is for informational purposes only and does not constitute investment advice. Please consult a SEBI-registered investment advisor before applying.
Juniper Green Energy IPO Allotment Status
Allotment is tentatively expected around August 4, 2026, with listing tentatively scheduled for August 6, 2026 on BSE and NSE. Once finalised, check your status via:
- The IPO Ji app or website
- BSE or NSE websites
You'll need your PAN, application number, or Demat account details.
Check the Juniper Green Energy IPO allotment status on IPO Ji for quick updates.
How to Apply for Juniper Green Energy IPO on IPO Ji
- Open the IPO Ji App (Play Store/App Store) or visit ipoji.com.
- Search for Juniper Green Energy IPO, or create your bid directly using the IPO Application Form.
- Review the price band, lot size, and dates.
- Select your Demat account and enter the number of lots.
- Submit using your registered UPI ID and approve the mandate before the deadline.
The application amount stays blocked in your account and is debited only on allotment. ASBA via net banking or a supported broker also works. Looking for what else is open or launching soon? Check the Current IPO and Upcoming IPO pages on IPO Ji.
FAQs on Juniper Green Energy IPO
What is Juniper Green Energy IPO?
Juniper Green Energy IPO is a book-built IPO worth ₹1,800 crore. Its price band is ₹215 to ₹225 per share. The IPO opens on July 30, 2026, and closes on August 3, 2026. It is proposed to list on BSE and NSE, with KFin Technologies Limited serving as the registrar.
What is the Juniper Green Energy IPO price band and lot size?
The price band is ₹215 to ₹225 per share, and the lot size is 66 shares. The minimum retail investment at the upper price band is ₹14,850 for one lot, while the maximum retail investment is ₹1,93,050 for 13 lots.
Is Juniper Green Energy IPO a Fresh Issue or an Offer for Sale?
Juniper Green Energy IPO is entirely a Fresh Issue of 8,00,00,000 shares, aggregating up to ₹1,800 crore. There is no Offer for Sale component, so all net proceeds are received by the company.
When does Juniper Green Energy IPO open and close?
The IPO opens on July 30, 2026, and closes on August 3, 2026, with the anchor investor bidding date on July 29, 2026. Allotment is tentatively expected on August 4, 2026, while listing is tentatively scheduled for August 6, 2026, on BSE and NSE.
What does Juniper Green Energy Limited do?
Juniper Green Energy is an independent renewable energy power producer that develops, builds, and operates solar, wind, and hybrid power projects in India. It manages the project lifecycle end-to-end and has long-term PPAs with government bodies such as SECI, SJVN, NHPC, and NTPC, as well as private clients like Tata Power.
How will the Juniper Green Energy IPO proceeds be used?
The company plans to use approximately ₹683.24 crore for repayment or pre-payment of certain borrowings, approximately ₹728.69 crore for investment in its material subsidiaries and subsidiaries toward repayment of their outstanding borrowings, and the balance for general corporate purposes.
Who are Juniper Green Energy's listed peers?
Listed peers referenced in comparison include Acme Solar, NTPC Green, Adani Green, and Renew Global, based on metrics such as P/E ratio, Price-to-Book, and RoNW.
What is Juniper Green Energy's project portfolio size?
As on May 31, 2025, Juniper Green Energy had a portfolio asset capacity of 7,898.45 MW, with operations spread across Gujarat, Rajasthan, Maharashtra, and Madhya Pradesh.
Where can I check Juniper Green Energy IPO subscription status?
Live QIB, NII, retail, and total bidding data can be checked on the Juniper Green Energy IPO subscription status page on IPO Ji. Subscription figures are also published by BSE and NSE during the bidding period.
Where can I check Juniper Green Energy IPO GMP status?
The latest grey market premium observations for the issue can be checked on the Juniper Green Energy IPO GMP page on IPO Ji. GMP is an unofficial and unregulated indicator. It is not exchange data or a guarantee of the listing price, and it can change frequently in the days leading up to listing.
How can I apply for Juniper Green Energy IPO?
Open the IPO Ji app or website, select Juniper Green Energy IPO, choose your Demat account, enter the number of lots, and submit the application using your registered UPI ID. Investors may also apply through ASBA using supported banks or brokers.
Where can I check the allotment status once the IPO closes?
Once the basis of allotment is finalised, check your status on the Juniper Green Energy IPO allotment status page on IPO Ji, or on the broader IPO allotment status hub for any other IPO you have applied to.
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This article is for informational purposes only and should not be construed as investment advice. Investors are advised to read the RHP carefully and consult a registered financial advisor before applying to any IPO.
