Juniper Green Energy sets IPO price band at ₹214-225; The version opened on July 30

Renewable energy firm Juniper Green Energy has fixed the price band for its ₹1,800-crore initial public offering (IPO) at ₹214-225 per share. The public version will open for reservation on July 30 and close on August 3.

Investors can bid for at least 66 shares and in multiple shares. The anchor investor section will open on July 29.

The IPO includes a fresh issue of equity shares, without an offer for sale (OFS) component, based on the company’s red herring (RHP) announcement.

At the top end of the price band, Juniper Green Energy is expected to command a post-listing market capitalization 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 – so that they can pay off outstanding debts. The remaining money will be used for the general purpose of the company.

Juniper Green Energy develops, builds and operates solar, wind, hybrid and battery projects across India.

Backed by Singapore-based AT Capital Group, the company has expanded its renewable energy portfolio with projects including India’s first commercial 100 MWh Battery Energy Storage System (BESS) project in Rajasthan. It has also started the phased commissioning of the Sustainable and Deliverable Renewable Energy (FDRE) project that integrates solar, wind and battery storage.

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

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

The company’s shares are offered for listing on both BSE and NSE.