Juniper Green Energy IPO Sees 37% Subscription on Opening Day: Investment Insights
The initial public offering (ipo) of juniper green energy ltd has entered its second day of bidding as of july 31, 2023. this ipo, which aims to raise rs 1,800
The initial public offering (IPO) of Juniper Green Energy Ltd has entered its second day of bidding as of July 31, 2023. This IPO, which aims to raise Rs 1,800 crore, is set to remain open for three days, concluding on August 3. The price range for the shares has been established between Rs 214 and Rs 225 each, making it an attractive option for investors looking to engage in the renewable energy sector. On the first day of bidding, the IPO recorded a subscription rate of 0.38x, with a total of 2,12,15,502 shares being bid for against the 5,60,35,817 shares available. The breakdown of subscriptions indicates that the retail category saw a 0.13x subscription, while non-institutional investors (NIIs) recorded a 0.05x subscription. Interestingly, the Qualified Institutional Buyers (QIB) category outperformed with a subscription rate of 1.05x on the inaugural day.
Shares of Juniper Green Energy Ltd are scheduled to be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on August 6. Prior to the public offering, the company successfully raised Rs 539.4 crore from a group of anchor investors, which includes notable entities such as the Abu Dhabi Investment Authority and Nippon India Mutual Fund. According to a circular released on the BSE's website, the company allocated 2.4 crore equity shares to 31 different funds at the upper price point of Rs 225 per share. The anchor book attracted a diverse array of participants, including domestic mutual funds, insurance companies, sovereign wealth funds, and foreign investors, with significant contributions from ICICI Prudential Mutual Fund, SBI Mutual Fund, WhiteOak Capital, Bajaj Life Insurance, Tata AIG General Insurance, and HDFC Life Insurance Company.
