• IPO and debt reduction: Juniper Green Energy's ₹1,800 crore IPO has a price band of ₹214 to ₹225 per share, with ₹1,400 crore of the proceeds allocated toward debt repayment to reduce its current 2.75:1 net debt-to-equity ratio.
• Capacity expansion target: The company doubled operational capacity in 15 months to 2.4 GW peak plus 500 MWh battery storage, and aims to reach 6 GW peak and 3,500 MWh battery capacity by FY28 under existing long-term PPAs.
• Receivable cycle performance: Working capital risk is minimal with a 22-day payment collection cycle, supported by creditworthy counterparties including Gujarat and Maharashtra state discoms as well as central utilities like NTPC and SECI.
• Hybrid and FDRE strategy: Hybrids and Firm and Dispatchable Renewable Energy (FDRE) combined with battery storage make up 83% of the portfolio, lifting average portfolio tariffs to ₹3.64 per unit, with FDRE commanding ₹4.45.