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Juniper Green Energy IPO demand softens on opening day
The ₹1,800 crore IPO received bids for 2.12 crore shares against 5.60 crore on offer, implying 0.38x subscription by Day 1.
Juniper Green Energy’s initial public offering met muted investor interest on the first day of bidding, with overall subscription of 0.38 times as of July 30, according to exchange data cited by LiveMint Markets.
Bids were received for 2.12 crore shares versus 5.60 crore shares on offer. Within categories, qualified institutional buyers were subscribed 1.05 times, while retail and non-institutional investors were subscribed 0.13 times and 0.05 times, respectively, and the employee portion was fully subscribed on the opening day.
The grey market premium stood at ₹9 per share, which suggests the stock could list around a 4% premium over the issue price. LiveMint Markets also reported that the IPO comprises a fresh equity issue with no offer-for-sale component.
The price band is set at ₹214-225 per share, and the company expects a post-listing market capitalization of about ₹12,802.46 crore at the upper end. Net proceeds include ₹683.24 crore for repayment or prepayment of certain borrowings, and ₹728.69 crore to be infused into subsidiaries, with remaining funds earmarked for general corporate purposes, while allotment is expected to be finalized August 4 and listing scheduled for August 6 on BSE and NSE.