Juniper Green Energy sets IPO price band at ₹215-225; issue opens July 30

Renewable energy company Juniper Green Energy has fixed the price band for its ₹1,800-crore initial public offering (IPO) at ₹215-225 per share. The public issue will open for subscription on July 30 and close on August 3.

Investors can bid for a minimum of 66 equity shares and in multiples thereof. The anchor investor portion will open on July 29.

The IPO comprises entirely a fresh issue of equity shares, with no offer-for-sale (OFS) component, according to the company's red herring prospectus (RHP).

At the upper end of the price band, Juniper Green Energy is expected to command a post-listing market capitalisation of ₹12,802.46 crore.

Of the total issue, 50% has been reserved for qualified institutional buyers (QIBs), 15% for non-institutional investors (NIIs), and the remaining 35% for retail investors.

The company plans to use ₹683.24 crore from the net proceeds to repay or prepay certain borrowings. It will also invest ₹728.69 crore in its subsidiaries - Juniper Green Gamma One, Juniper Green Kite and Juniper Green Power Five - to enable them to repay their outstanding debt. The remaining proceeds will be used for general corporate purposes.

Juniper Green Energy develops, builds and operates utility-scale solar, wind, hybrid and battery energy storage projects across India.

Backed by Singapore-based AT Capital Group, the company has expanded its renewable energy portfolio with projects including India's first merchant 100 MWh Battery Energy Storage System (BESS) project in Rajasthan. It has also begun phased commissioning of an integrated Firm and Dispatchable Renewable Energy (FDRE) project that combines solar, wind and battery storage.

The Gurugram-based company operates an integrated platform covering project development, engineering, procurement, construction and operations, and is focused on expanding its renewable energy and energy storage business.

ICICI Securities, HSBC Securities and Capital Markets (India), JM Financial, and Kotak Mahindra Capital Company are the book-running lead managers to the issue, while KFin Technologies is the registrar.

The company's equity shares are proposed to be listed on both the BSE and the NSE.