The Juniper Green Energy IPO is structured as a Book Built Issue worth ₹3,000 crore, comprising only a fresh issue of shares, with no offer-for-sale component.
The company’s equity shares are proposed to be listed on both the NSE and BSE.
ICICI Securities Limited will act as the book-running lead manager, while Kfin Technologies Limited has been appointed as the registrar. Further details including the IPO timetable, price band, and lot size are yet to be disclosed.
Juniper Green Energy IPO Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- Funds will be utilised to repay or pre-pay certain borrowings taken by the company.
- A portion will be invested in key subsidiaries to help reduce their outstanding debt.
- Remaining proceeds will be allocated towards general corporate purposes.
About Juniper Green Energy Limited
Juniper Green Energy Limited is counted among India’s ten largest renewable independent power producers (IPPs) based on total capacity as of 31 December 2024, which includes operational, under-construction, contracted and awarded projects.
The company develops, builds, operates and maintains utility-scale renewable energy projects through its in-house engineering, procurement and construction (EPC) team, along with a dedicated operations and maintenance (O&M) unit.
Revenue is primarily generated through the sale of power to various off-takers, including central and state government-backed entities.
The company commissioned its first solar project — a 100 MW (144.97 MWp) installation — in March 2020, and has since expanded its portfolio to a total capacity of 7,898.45 MW (10,069.58 MWp) as of 31 May 2025.
Its portfolio includes solar and wind projects, as well as more complex renewable solutions such as wind-solar hybrid (WSH) and firm and dispatchable renewable energy (FDRE) projects equipped with battery energy storage systems (BESS).
Juniper Green Energy ranks second in total capacity won in WSH and FDRE tenders concluded between 1 April 2021 and 31 December 2024, maintaining a full conversion rate for tenders awarded during this period.
The company received a partial commissioning certificate for 42.90 MW (59.55 MWp) for its Juniper Green Power Five Private Limited project on 6 June 2025, followed by a commissioning certificate for 50.00 MW (71.22 MWp) for the Juniper Green Ray Two Private Limited project on 23 June 2025.
With these additions, its total operational capacity reached 1,047.20 MW (1,450.94 MWp) as of the date of the Draft Red Herring Prospectus.
Industry Outlook
- Demand for clean and sustainable energy solutions is expected to grow steadily as governments worldwide, including India, intensify focus on reducing carbon emissions.
- Rising energy consumption and a shift toward decarbonisation should drive demand for renewable energy generation and associated infrastructure.
- Technological advances in areas like solar, wind, energy storage and smart-grid integration may improve efficiency and lower costs, bolstering the sector’s competitiveness.
- Government policies, incentives, and support schemes for green energy are likely to attract more investment into the renewable energy industry.
- Growing awareness and preference among consumers and corporations for environmentally friendly energy sources should increase demand for clean energy providers.
- Companies with diversified services across generation, storage, and distribution may benefit as the market for comprehensive renewable energy solutions expands.
How To Apply for the Juniper Green Energy IPO Online?
- Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
- Locate the IPO Section: Navigate to the 'IPO' section on the platform.
- Select IPO: Find and select the Juniper Green Energy IPO from the list of open IPOs.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
How To Check the Allotment Status of Juniper Green Energy IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app.
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
Contact Details of Juniper Green Energy Limited
Registered office: 1103A & 1103B, 11th Floor, Hemkunt Chamber, 89, Nehru Place, New Delhi, 110019.
Phone:+91 124 473 9600
E-mail:investors@junipergreenenergy.com
Website: http://www.junipergreenenergy.com/
Juniper Green Energy IPO Reservation
| Investor Category | Shares Offered |
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII Shares Offered | Not less than 15% of the Net Issue |
Juniper Green Energy IPO Promoter Holding
The promoters of the company include Arvind Tiku, Hemant Tikoo, Niharika Tiku, At Holdings Pte. Ltd and Juniper Renewable Holdings Pte. Ltd
| Share Holding Pre-Issue | 100% |
| Share Holding Post Issue | - |
Note: Equity dilution will be determined by subtracting the Shareholding Post Issue from the Shareholding Pre Issue.
Key Performance Indicators for Juniper Green Energy IPO
| KPI | Values |
| Debt/Equity | 1.00 |
| RoNW | 2.31% |
| EBITDA Margin | 87.37% |
Juniper Green Energy IPO Prospectus
Juniper Green Energy IPO Registrar and Lead Managers
Juniper Green Energy IPO Lead Managers
- ICICI Securities Limited
- HSBC Securities & Capital Markets (India) Private Limited
- JM Financial Limited
- Kotak Mahindra Capital Co. Limited
Registrar for Juniper Green Energy IPO
Kfin Technologies Limited
- Contact Number: 04067162222
- Email Address: junipergreen.ipo@kotak.com
- Juniper Green Energy IPO Registrar: https://ipostatus.kfintech.com/
Financial Performance of Juniper Green Energy Limited
| Particulars | Fiscal 2024 | Fiscal 2023 | Fiscal 2022 |
| Profit After Tax (₹ million) | 400.64 | -120.58 | 272.28 |
| EBITDA (₹ million) | 3,708.43 | 2,982.87 | 1,649.86 |
| EBITDA Margin (%) | 87.37 | 82.29 | 87.22 |
| Operating EBITDA (₹ million) | 3,379.46 | 2,671.08 | 1,463.46 |
| Operating EBITDA Margin (%) | 86.31 | 80.62 | 85.82 |
| Net Debt to Equity (x) | 1 | 2.47 | 1.72 |
Juniper Green Energy Limited Peer Comparison
| Company Name | EBITDA Margin (%) | ROCE (%) |
| Juniper Green Energy Ltd | 85.19 | 9.75 |
| ACME Solar Holdings Ltd | 88.54 | 10.77 |
| ReNew Power Global PLC | 73.77 | 5.71 |
| Adani Green Energy Ltd | 93 | 9.73 |
| NTPC Green Energy Ltd | 87.9 | 12.64 |
Strengths and Opportunities of Juniper Green Energy Limited
- Experienced and committed promoters with credible financial partners and a dynamic management team.
- Among the top 10 renewable energy independent power producers in India by total capacity as of December 31, 2024.
- Focus on complex renewable energy projects.
- Proven ability to secure land and establish robust connectivity well in advance.
- Established supply chain de-risking strategy to ensure timely procurement and quality of critical components.
Risks and Threats of Juniper Green Energy Limited
- Adverse shifts in government policies or reductions in incentives could impact revenue and profitability, though major changes are unlikely given climate commitments.
- Delays in signing power purchase agreements (PSAs) due to declining tariffs in subsequent tenders can affect project timelines and cash flows.
- Limited enforcement of Renewable Purchase Obligation (RPO) compliance across states can create uneven market conditions.
- Volatility in module prices, exchange rates, freight, and commodity costs puts pressure on EPC margins.
- High sector competitiveness with established players and capable new entrants can limit market share and profitability.
