Juniper Green Energy’s initial public offering gained significant traction on its final day of bidding, reaching a subscription level of 2.67 times the offer size by 2 pm.
The late surge was primarily fueled by robust demand from qualified institutional buyers (QIBs), who subscribed to the issue at 8.47 times.
The sharp uptick in interest marks a dramatic reversal from the opening phase of the book-building process, which had seen muted demand.
Earlier reports indicated the ₹1,350 crore offering attracted bids worth only 0.38 times the offer size on its first day, raising concerns about investor appetite for the renewable energy developer.
The QIB segment’s aggressive participation suggests that institutional investors are positioning themselves ahead of the allotment, potentially viewing the valuation as attractive despite the initial tepid response from retail or non-institutional categories.
This pattern is common in Indian IPOs where institutional blocks are allocated separately and often drive the final subscription multiples.