Juniper Green Energy to open ₹1,800-cr IPO on July 30

Renewable energy company Juniper Green Energy on Friday said it will open its ₹1,800-crore initial public offering (IPO) for public subscription on July 30, with the issue closing on August 3.

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

The anchor investor bidding will open on July 29.

At the time of filing its draft papers with SEBI, the company had proposed to raise up to ₹3,000 crore through the public issue.

Of the IPO proceeds, the company will use ₹683.24 crore to repay or prepay some of its borrowings. It will also invest ₹728.69 crore in its subsidiaries -- Juniper Green Gamma One, Juniper Green Kite, and Juniper Green Power Five -- to help them repay or prepay their outstanding loans. The remaining funds 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 been expanding its renewable energy portfolio, including commissioning India's first merchant 100 MWh Battery Energy Storage System (BESS) project in Rajasthan and beginning phased commissioning of an integrated Firm and Dispatchable Renewable Energy (FDRE) project combining solar, wind and battery storage.

The Gurugram-based company has an integrated platform spanning project development, engineering, procurement, construction and operations, and is focused on expanding its presence in renewable energy and energy storage solutions.

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 the BSE and the NSE.