Shares of Bluspring Enterprises Limited rose 6.80% to ₹127.99 on the NSE in morning trade on Friday after the company informed exchanges that its step-down subsidiary STEAG Energy Services (India) Private Limited has won a comprehensive operations and maintenance contract from Vedanta Aluminium Metal Limited.
The stock touched an intraday high of ₹131.82 against a previous close of ₹119.84.
The order
STEAG India will handle the comprehensive O&M of Vedanta Aluminium’s captive power plant, made up of nine units of 135 MW each for a total of 1,215 MW.
The estimated aggregate contract value, including additional services, is ₹1,437.17 crore plus applicable taxes. The contract runs for five years from August 1, 2026.
Bluspring classified the order as domestic and confirmed no promoter or promoter group entity holds any interest in Vedanta Aluminium Metal Limited. The company also said the transaction does not qualify as a related-party deal.
The third Vedanta group wins this year
The order extends a run of large contracts that STEAG India has picked up from Vedanta group companies since Bluspring acquired it.
The subsidiary earlier won a ₹2,049.8 crore, 60-month O&M contract for Bharat Aluminium Company’s 1,740 MW plant, and secured a five-year extension worth roughly ₹406.43 crore for a 600 MW thermal plant originally contracted by Vedanta Limited, disclosed on June 26, 2026.
Bluspring’s subsidiary, Bluspring New Horizon One Private Limited, signed a share purchase agreement in March to acquire 100% of STEAG Energy Services India for ₹180 crore.
The deal closed on May 21 this year making STEAG India a wholly-owned step-down subsidiary. Founded in 2001, STEAG India provides O&M, digital solutions and engineering advisory services to conventional and renewable power players across India and international markets including the Middle East.
