Juniper Green Energy Shares Climb Nearly 9% In Market Debut Trade

Shares of Juniper Green Energy Ltd on Thursday listed nearly 9% higher than the issue price of ₹225.

The stock listed at ₹242, up 7.55% from the issue price on the BSE.

At the NSE, it started trading at ₹245, registering a jump of 8.88%.

The company commanded a market valuation of ₹13,997.36 crore.

The initial public offering of Juniper Green Energy Ltd was subscribed 7.97 times on the last day of bidding on Monday.

The company's ₹1,800 crore IPO had a price band of 214-225 per equity share.

The mainboard issue was entirely a fresh issuance of equity shares.

Of the IPO proceeds, the company has proposed to 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 utilised 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.