Juniper Green Energy’s initial public offering is closing with subscription levels at 48% of the total issue size, signaling tepid demand on the final day of the book-building process.
The renewable energy developer’s shares are priced in the band of ₹214 to ₹225, with the issue set to close on Monday, August 3.
The lackluster uptake contrasts with earlier optimism driven by significant anchor investments and strong growth projections for the company’s solar and wind portfolio.
Analysts remain divided on the valuation, with some citing the premium pricing as a deterrent for retail and institutional investors alike.
The grey market premium, which had previously indicated strong interest, has cooled as the subscription window nears its end.
Juniper Green Energy is raising ₹1,800 crore through a fresh issue of 8 crore shares.