Juniper Green Energy shares list at 9% premium; is it a buy?

Juniper Green Energy share price: The listing of Juniper Green Energy shares was in line with grey market activity, which signalled a listing gain of 6 to 8 per cent for IPO investors.

Juniper Green Energy share price today: Shares of Juniper Green Energy on Thursday listed at a premium of nearly 9 per cent against the issue price of ₹225. The stock made its market debut at ₹242, registering a jump of ₹17 or 7.56 per cent on the BSE.

 

The stock started trading at ₹245, up 8.9 per cent from the issue price on the NSE.

 

The company commanded a market valuation of ₹13,769.76 crore, according to BSE data.

 

The listing of Juniper Green Energy shares was in line with grey market activity, which signalled a listing gain of 6 to 8 per cent for investors.  Juniper Green Energy stock: Should you buy?   Post listing, Shivani Nyati, head of wealth at Swastika Investmart, said that Juniper Green Energy has strong long-term growth potential, backed by a 7.9 GW capacity pipeline, long-term PPAs, and a planned ₹1,411 crore debt reduction. However, the IPO is richly valued, while current profitability remains modest.

  "Investors allotted shares can continue to hold from a long-term perspective, but should maintain a stop-loss at ₹225 (closing basis). Fresh investors are advised to wait for better valuations or stronger earnings visibility before taking exposure," she said.

 

 

Juniper Green Energy IPO details   The initial public offer of Juniper Green Energy had a price band of ₹214-225 per equity share, and it comprised a fresh issuance of equity shares, with no OFS.

 

The initial public offer of Juniper Green Energy was subscribed 7.97 times on the last day of bidding on Monday (August 3).

 

The company's ₹1,800-crore IPO received bids for 46,96,00,758 shares against 5,89,16,709 shares on offer, according to NSE data. The QIBs category was booked 24.94 times, while the quota for NIIs was subscribed 1.82 times. The retail portion fetched 93 per cent of subscription.

 

Ahead of the IPO, Juniper Green Energy had raised ₹539.4 crore from anchor investors.

 

Juniper Green Energy has said that it will use ₹683.24 crore to repay or prepay some of its borrowings. Besides, the company has also proposed to invest ₹728.69 crore in its subsidiaries Juniper Green Gamma One, Juniper Green Kite and Juniper Green Power Five, to help them repay or prepay their outstanding loans.

 

Juniper Green Energy develops, builds and operates utility-scale solar, wind, hybrid and battery energy storage projects across India.  ======================================================= 

Disclaimer: View and outlook shared belong to the respective brokerages/analysts and are not endorsed by Business Standard. Readers' discretion is advised.