Renewable energy producer Juniper Green Energy has set its IPO price band at ₹214-225 per share, aiming to raise ₹1,800 crore.

The issue will open for subscription on July 30 and close on August 3, with shares expected to list on the BSE and NSE on August 6.

It’s an entirely fresh issue of 8 crore equity shares, meaning there’s no offer for sale component, so all the money raised goes straight to the company rather than to existing shareholders cashing out.

One interesting detail here is that the IPO size has actually shrunk. The company reduced its initial goal to raise ₹3,000 crore by 40%.

According to CFO Parag Agrawal, around ₹1,200 crore had been earmarked to repay subsidiary borrowings, but those loans have since been refinanced at lower interest rates, so that portion was no longer needed from the IPO proceeds.

The Gurugram based company builds and operates utility scale solar, wind, and hybrid renewable projects, along with what’s called firm and dispatchable renewable energy, or FDRE, which pairs solar and wind with battery storage to supply power even after sunset.

Around 83% of its portfolio sits in these more complex hybrid and FDRE categories, which the company says helps it command better pricing than the broader market.

Over the last 15 months, Juniper’s operational capacity has more than doubled, reaching 2,400 MWp from 1,174 MWp in FY25.

As of June 30, its total renewable portfolio across operational, under construction and contracted projects stood at 7,910 MW, placing it among India’s top 10 renewable independent power producers by capacity.

The company is targeting 6 GW of operational capacity by FY28 and 10 GW by FY30. On the financial side, Juniper’s total income rose 41% in FY26 to ₹804.93 crore, while profit after tax grew 11% to ₹40.46 crore.

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