Gurugram-based Juniper Green Energy, a fast-growing renewable power company, has filed its Draft Red Herring Prospectus (DRHP) with SEBI for an initial public offering (IPO). The company plans to raise up to ₹3,000 crore through a fresh issue of shares.
Before the IPO launch, it may also raise ₹600 crore through a pre-IPO placement, which will reduce the final issue size. The IPO is expected to attract investor interest due to its focus on clean energy and strong business model.
The main purpose of this IPO is to reduce the company’s debt. Out of the total amount raised, ₹2,250 crore will go towards repaying loans taken by Juniper Green Energy and its subsidiaries like Juniper Green Gamma One, Green Three, and Green Field.
The remaining amount will be used for general corporate purposes like expanding operations, bidding for new projects, and covering daily business expenses.
Juniper Green Energy is backed by Juniper Renewable Holdings and operates in solar, wind, wind-solar hybrid, and firm and dispatchable renewable energy projects. It manages the entire project lifecycle — from land acquisition and design to construction and long-term maintenance.
Almost 97.6% of its capacity is under long-term Power Purchase Agreements (PPAs) with clients like SECI, NTPC, NHPC, and Tata Power. These contracts, often for 25 years, ensure stable revenue. The rest is sold through short-term deals or on the open market.
In FY24, Juniper Green Energy posted a revenue of ₹391.5 crore, up 18% from the previous year. It reported a net profit of ₹40 crore, a big improvement from a loss of ₹12 crore in FY23.
Its EBITDA margin stood at a healthy 87.4%, and its debt-to-equity ratio improved to 1, down from 2.47 the previous year — showing stronger financial health.
Juniper is among India’s top 10 renewable energy players, with over 1,047 MW installed capacity and another 1,700+ MW in the pipeline.
However, the company is highly dependent on a few clients. According to its DRHP, the top two customers contribute over 94% of its revenue, which poses a risk if those contracts are lost or delayed.
Read more: Best Performing Equity Mid-Cap Index Funds Based on Returns Since Launch.
The Juniper Green Energy IPO promises to be one of the most exciting renewable energy issues of the year. With strong financials, a long-term revenue model, and a focus on future-ready green tech, the company is gearing up for a big market debut. Investors tracking the clean energy sector should definitely keep an eye on this upcoming listing.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Jul 29, 2025, 1:45 PM IST
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