Juniper Green Energy Limited IPO
ListedMainboard
7.93×
Subscribed
Price band
₹225 – ₹225
Issue size
₹1.8k Cr
Open – close
30 Jul 2026
to 03 Aug 2026
Listing
06 Aug 2026
Listing gain
+8.89%
What the filing actually says
Our read of the offer document and the exchange data — not the issuer's summary of itself
Mixed5 of 7 dimensions read
A mixed but reasonable offering — 3 positive against 2 negative signals
Strength59/100
- Strong revenue growthRevenue compounding at 35.5% across the reported years
- Low return on equityROE of 1.2% — the business earns little on the capital it already has
- Heavily indebtedDebt/equity of 3.77× — leverage this high leaves little margin if earnings dip
- Fresh capital for the business100.0% of the issue is fresh capital raised by the company itself
- Institutions bid heavilyQIB portion subscribed 24.94×
Every line above is arithmetic on a figure shown elsewhere on this page - no model, no opinion. It describes the quality of the offering as disclosed. It is not a prediction of the listing price, and it is not advice to apply.
Dates
The issuer's tentative timetable — a date passing is not confirmation the step completed
- Opens30 Jul 2026
- Closes03 Aug 2026
- Listing06 Aug 2026
Demand and your odds
How the book filled, and what that means for an application
Subscription by category
Qualified institutionalQIB24.94x
Non-institutionalNII / HNI1.80x
Retail individualRII0.85x
Chance of allotment
Retail0.85× subscribed
Full allotment
The retail portion is under-subscribed at 0.85×, so every valid application should receive a full allotment.
HNI / NII1.80× subscribed
~1 in 1.8
HNI is 1.8× subscribed. This category is allotted proportionately, so a bid receives roughly 1/1.8 of the shares applied for, subject to the minimum-lot draw.
Derived from SEBI's allotment mechanics and the subscription figures beside it. Retail allotment is a lottery on a single lot, so applying for more lots does not improve your chance of getting something.
The offering
Terms, structure and who is selling
Terms
Price band₹225 – ₹225
Total issue size₹1.8k Cr
Fresh issue₹1.8k Cr
Listing atMainboard
Company & valuation
Return on equity1.18%
Debt / equity3.77×
0.0% of this issue is an offer for sale. The rest is fresh capital that goes into the company itself.
What the money is for
Stated use of the net proceeds
- 01repayment/pre-payment, in full or part, of certain borrowings availed by our Company₹6.83k Cr
- 02investment in one of our Material Subsidiaries namely Juniper Green Gamma One Private Limited, and our Subsidiaries namely Juniper Green Kite Private Limited and Juniper Green Power Five Private Limited for repayment/ pre-payment, in full or in part, of all or a portion of certain of their outstanding borrowings₹7.29k Cr
- 03general corporate purposesnot stated
Objects with no stated amount — typically general corporate purposes — are funded from whatever remains, so the quantified figures do not sum to the whole issue.
Financials
Restated figures as reported in the offer document, ₹ crore
| Period | Revenue | EBITDA | PAT | Net worth | Debt |
|---|---|---|---|---|---|
| 2024 | 391.55 | — | 40.064 | 1,731.677 | — |
| 2025 | 508.678 | — | 36.478 | 3,359.898 | — |
| 2026 | 718.934 | — | 40.464 | 3,423.883 | — |
Revenue CAGR 35.5%PAT CAGR 0.5%
Risks worth reading
Ranked by our severity assessment, not by the order the prospectus prints them
High leveragemedium
Debt-to-equity of 3.77x.
mediumA significant portion of revenue is derived from two key off-takers, GUVNL and MSEDCL, who collectively contributed 86.06%, 91.11% and 97.00% of revenue from operations for Fiscals 2026, 2025 and 2024, respectively. The loss of any such key commercial relationships could adversely affect the busines
mediumThe business is dependent on suppliers for critical components, equipment, materials and other goods. The top 10 suppliers collectively contributed to 84.42%, 79.99% and 87.52% of total purchases for Fiscals 2026, 2025 and 2024, respectively. Interruptions in the supply of critical components and ot
Litigation
As on the date of this Red Herring Prospectus
Positives the filing discloses (2)
Primarily fresh capital
100% of the offer is fresh issue, so most proceeds fund the company.
Strong revenue growth
Restated revenue CAGR of 35.5%.
What happened to comparable issues
The last 8 issues to list with a recorded opening price, most comparable first
Median listing gain
+14.5%
Listed up
6 of 8
Best
+90.0%
Shanti Inorganics
Worst
-0.7%
Mopshop Distribution
Gaja Alternative Asset Management Limitedsame segment
31.2× sub+15.6%
131.8× sub+90.0%
1.6× sub+0.0%
-0.7%
138.6× sub+22.1%
1.5× sub+6.9%
46.2× sub+13.4%
146.4× sub+18.0%
Past issues are context, not a forecast — this issue is a different company at a different price. We show it because "how have issues like this one actually opened" is a question with a real answer, and grey-market premium is not that answer.
Offer documents
The primary sources everything above is drawn from
Common questions
How many times is the Juniper Green Energy Limited IPO subscribed?
Juniper Green Energy Limited is subscribed 7.93× overall (QIB 24.94×, NII 1.80×, retail 0.85×). Subscription keeps changing until the issue closes; the final basis of allotment is published by the registrar.
Disclaimer. Figures are compiled from the issuer's offer document and exchange-published bidding data. Subscription changes until the issue closes, and the final basis of allotment is published by the registrar. Grey-market premium is unofficial and is not a forecast. Nothing here is investment advice or a recommendation — read the offer document and consult a SEBI-registered adviser before applying.