Renewable energy company Juniper Green Energy has announced the price band for its upcoming Initial Public Offering (IPO).
The company has fixed the IPO price between Rs 214 and Rs 225 per share, with the public issue set to open on July 30.
The IPO is a fresh issue worth Rs 1,800 crore, meaning the company will issue new shares to raise funds.
If you’re planning to invest, here are the five most important things you should know.
IPO Size and Price Band
Juniper Green Energy aims to raise Rs 1,800 crore by issuing 8 crore new equity shares with a face value of Rs 10 each.
The company has fixed the price band at Rs 214 to Rs 225 per share.
The IPO is being managed by ICICI Securities, HSBC Securities and Capital Markets, JM Financial, and Kotak Mahindra Capital Company.
KFin Technologies is the registrar for the issue.
Important IPO Dates
The IPO will open for subscription on Thursday, July 30, and close on Monday, August 3.
The share allotment is expected to be finalized on August 4.
Investors who receive shares will see them credited to their demat accounts by August 5, while refunds for unsuccessful applicants will also be processed the same day.
Juniper Green Energy is expected to list on both the NSE and BSE on Thursday, August 6.
How Will the Company Use the Funds?
The company plans to use a large portion of the IPO proceeds to strengthen its financial position and support future growth.
Around Rs 683.2 crore will be used to repay or prepay existing debt.
Another Rs 728.8 crore will be invested in its subsidiaries, including Juniper Green Gamma One Private, Juniper Green Kite Private, and Juniper Green Power Five Private.
The remaining amount will be used for general corporate purposes.
IPO Reservation Details
The company has divided the IPO into different investor categories.
50% of the issue is reserved for Qualified Institutional Buyers (QIBs).
15% is reserved for Non-Institutional Investors (NIIs).
35% is reserved for Retail Investors.
Additionally, shares worth Rs 2 crore have been set aside for eligible employees, who will receive a discount of Rs 21 per share.
Lot Size and Minimum Investment
Retail investors must apply for at least one lot, which consists of 66 shares.
At the upper price band of Rs 225 per share, the minimum investment works out to Rs 14,850.
Retail investors can apply for a maximum of 13 lots.
For Small High Net Worth Individuals (sHNIs), the minimum application is 14 lots, while they can apply for up to 67 lots.
Big HNIs need to apply for a minimum of 68 lots.
Should You Keep an Eye on This IPO?
With a Rs 1,800 crore fresh issue, a significant focus on debt reduction, and investments in renewable energy projects through its subsidiaries, Juniper Green Energy’s IPO is likely to attract investor interest.
Those considering an investment should review the company’s financial performance, growth plans, and valuation before making a decision.
