🚫 Avoid
Listed
Power
Juniper Green Energy Limited IPO
₹1,800 Cr · Fresh Issue · Power
Price Band
₹214 – ₹225
GMP (Grey Market)
—
No GMP data yet
Issue Size
₹1,800 Cr
Fresh Issue
Market Cap
₹12802.26 Cr
At upper band
P/E Ratio
316.4x
P/S: 17.8x
Listing Date
06 Aug 2026
BSE & NSE
IPO Timeline
✓
Opens
30 Jul 2026
✓
Closes
03 Aug 2026
✓
Allotment
4 Aug 2026
✓
Refund
5 Aug 2026
✓
Listing
06 Aug 2026
IPO India Hub: Strong Avoid
Conviction
2/10
The company trades at 13.76× sector midpoint—a severe premium with no margin justification, as NPM of 5.6% is far below the 15% threshold required to support elevated valuations. PAT CAGR of 0.5% over two years reveals profit stagnation despite 37.7% revenue growth, signaling operational leverage failure and unsustainable valuation.
Listing Performance
Issue Price
₹225
Allotment price
Listing Price
₹242
+7.56% on listing day
Current Price (CMP)
₹263.8
+17.2% vs issue
Listed On
06 Aug 2026
BSE & NSE
Our Analysis — Key Points
✓ Strength
Strong Revenue Growth Trajectory
Revenue has grown at 37.7% CAGR over two years (₹424.4 Cr → ₹804.9 Cr), demonstrating significant market traction in renewable energy. This growth rate exceeds the 20% threshold typically associated with high-conviction growth stories.
✓ Strength
Exceptional EBITDA Margin Profile
EBITDA margin of 85.99% is exceptionally high for the power sector, reflecting strong operational efficiency and pricing power in renewable energy generation. This suggests the underlying business model is fundamentally sound.
⚠ Risk
Severe Valuation Multiple Disconnect
At 316.4× P/E and 13.76× sector midpoint, the valuation is indefensible. Even high-growth renewable companies rarely command such premiums; this pricing assumes unrealistic future profit acceleration with zero margin of safety for investors.
⚠ Risk
Profit Growth Has Stalled Entirely
PAT CAGR of just 0.5% over two years (₹40.1 Cr → ₹40.5 Cr) reveals that despite 37.7% revenue growth, net profit has flatlined. This indicates rising costs, taxes, or financing charges are eroding gains—a red flag for sustainability.
₹ Valuation
Valuation Exceeds Sector Norms by 13.76×
The company's P/E of 316.4× is 13.76 times the niche/unlisted sector midpoint of 23×, placing it in the extreme outlier category. With NPM of only 5.6% (well below the 15% threshold), there is no earnings quality or margin justification for this premium.
👁 Watch
Monitor Debt Repayment and Capex Execution
₹683.24 Cr of the ₹1,800 Cr proceeds will service existing debt; track whether subsidiary investments (₹1,116.76 Cr) generate incremental EBITDA and whether the company can convert revenue growth into actual profit expansion post-listing.
Top Analyst Reviews
| Analyst / Firm | Rating | Known For | Review |
|---|---|---|---|
| IPO India Hub Our independent review |
Original analysis based on DRHP & public financials | This page | |
| Dilip Davda Chittorgarh.com |
India's most followed independent IPO analyst | Search on Chittorgarh → | |
| Capital Market (CM Rating) CapitalMarket.com |
Widely-cited "New Issue Monitor" reports | Search on CapitalMarket → | |
| ICICI Securities ICICIdirect Research |
SEBI-registered broker research desk | Visit ICICIdirect → | |
| IPO Guru Analyst Leaderboard ipoguru.in |
Ranks 49 analysts by real IPO outcome accuracy | View leaderboard → |
External links go to each platform's IPO section — search for "Juniper Green Energy Limited" to find the specific review. IPO India Hub does not represent the accuracy of third-party ratings.
Company Snapshot
Revenue
₹718.93 Cr
Net Profit
₹40.46 Cr
Industry
Power
Issue Type
Fresh Issue
Promoters
ARVIND TIKU, HEMANT TIKOO, NIHARIKA TIKU, AT HOLDINGS PTE. LTD. AND JUNIPER RENEWABLE HOLDINGS PTE. LTD.
Lead Managers
ICICI Securities, HSBC Securities, JM Financial and Kotak Mahindra Capital
Quick Actions
Frequently Asked Questions
Avoid. The company trades at 13.76× sector midpoint—a severe premium with no margin justification, as NPM of 5.6% is far below the 15% threshold required to support elevated valuations. PAT CAGR of 0.5% over two years reveals profit stagnation despite 37.7% revenue growth, signaling operational leverage failure and unsustainable valuation.
GMP data is not yet available for this IPO. Check our GMP Live page for the latest updates closer to the listing date.
Lot size details will be updated when the DRHP is filed. The price band is ₹214 – ₹225.
The IPO opens on 30 Jul 2026. It closes on 03 Aug 2026. Allotment is expected on 4 Aug 2026. Refunds initiate on 5 Aug 2026. Listing on BSE and NSE is on 06 Aug 2026.
The lead managers for the IPO are ICICI Securities, HSBC Securities, JM Financial and Kotak Mahindra Capital. Check the SEBI filing for the registrar details.
The IPO listed on 06 Aug 2026 at ₹242 against an issue price of ₹225 (+7.56% on listing day). The current market price (CMP) is approximately ₹263.8 (+17.2% vs issue).
Our analysis recommends <strong>Avoid</strong>. We suggest skipping this IPO before the issue closes on 03 Aug 2026. The company trades at 13.76× sector midpoint—a severe premium with no margin justification, as NPM of 5.6% is far below the 15% threshold required to support elevated valuations. PAT CAGR of 0.5% over two years reveals profit stagnation despite 37.7% revenue growth, signaling operational leverage failure and unsustainable valuation.
Our analysis recommends <strong>Avoid</strong>. We suggest skipping this IPO before the issue closes on 03 Aug 2026. The IPO is priced at a P/E of 316.4x. Market cap at issue price is ₹12802.26 Cr. As with all IPOs, please read the DRHP and assess your own risk tolerance before investing.
You can apply via UPI through your broker's trading app (Zerodha, Upstox, Fyers, etc.) or via ASBA through your net banking portal. The issue closes on 03 Aug 2026, so apply before that date. Step 1: Log in to your broker or bank app. Step 2: Go to IPO section and search for 'Juniper Green Energy Limited'. Step 3: Enter the number of lots and UPI ID. Step 4: Accept the mandate on your UPI app.
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