Renewable energy firm Juniper Green Energy has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to launch an initial public offering (IPO) aimed at raising ₹3,000 crore. The proposed share sale will consist solely of a fresh issue, with no offer-for-sale component.
The company has earmarked ₹2,250 crore from the IPO proceeds for repayment of debt. As of May 2025, Juniper Green Energy had outstanding consolidated borrowings of ₹5,894.3 crore. The remaining funds will be used for general corporate purposes.
Prior to the IPO, Juniper Green Energy may opt for a pre-IPO placement of up to ₹600 crore. If completed, this would reduce the size of the fresh issue accordingly.
Founded in 2020, Juniper Green Energy has rapidly expanded its footprint in India’s renewable energy sector. The company’s operational portfolio has grown to 7,898.45 MW (10,069.58 MWp) as of May 2025, comprising both solar and wind energy projects. It ranks among the top ten independent power producers (IPPs) in the country and competes with major players such as Acme Solar Holdings, NTPC Green Energy, and Adani Green Energy.
Financially, the company reported a net profit of ₹40 crore for FY24, reversing a ₹12 crore loss in FY23. Its revenue from operations rose by 18.2% to ₹391.6 crore year-over-year. In the nine-month period ending December 2024, Juniper earned ₹7.8 crore in profit on a revenue of ₹351.6 crore.
ICICI Securities, HSBC Securities and Capital Markets (India), JM Financial, and Kotak Mahindra Capital Company have been appointed as the lead managers for the IPO.
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