Juniper Green has fixed a price band of Rs 214 to Rs 225 per share for an initial public offering that will open on July 30 and is sized at Rs 1,800 crore, equivalent to Rs 18 billion (bn). The offer will support project financing and growth.

Chairperson Arvind Tiku said 83 per cent of the portfolio comprises wind-solar hybrid or firm and dispatchable renewable energy projects and that including projects under construction capacity stands at 10,247 MWp with a battery energy storage system (BESS) portfolio of 4,564 MWh. The firm said it has grid connectivity for all under-construction projects and a surplus of 1,688 MW.

The company holds a land bank of 12,000 acres and more than 300 wind turbine generator locations for projects under construction. Most operational projects were commissioned ahead of schedule, with a weighted average lead time of 147 days.

The company reported total income of Rs 805 crore in 2015-16, equivalent to Rs 8.05 billion (bn). In market context the Indo-MIM initial public offering achieved subscription of 72.34 times on the final day of bidding while Xtranet Technologies received 12.24 times subscription.

SBI Mutual Fund appointed Manish Mehta as chief business officer after a 15-year tenure at Kotak Mahindra Asset Management Company where he was joint president and national head of sales, marketing and digital business. Sales at SBI Mutual Fund remain headed by co chief executive officer D P Singh.

Edelweiss Mutual Fund plans to launch the Edelweiss Nifty Reits and Realty Index Fund from August five to August 19, positioning it as likely India's first mutual fund scheme focused on Reits, with the underlying index allocating around 60 per cent to listed Reits and 40 per cent to real estate firms. The scheme aims to offer diversified exposure to the real estate ecosystem via listed Reits.