Bluspring Enterprises Limited to Acquire STEAG Energy Services India
Bengaluru, March 19, 2026: Bluspring Enterprises Limited [NSE: BLUSPRING, BSE: 544414), India's leading integrated infrastructure services enterprise, announced that its wholly-owned subsidiary, Bluspring New Horizon One Private Limited, has entered into a definitive agreement to acquire 100% shareholding in STEAG Energy Services India Private Limited. STEAG India, currently a wholly owned subsidiary of STEAG Power GmbH of Germany, will become a step-down subsidiary of Bluspring New Horizon One Private Limited. The transaction is expected to close within 60-90 days, subject to customary closing conditions.STEAG India, founded in 2001, is a leading provider of Operations and Maintenance (O&M), Digital Solutions, Engineering, and Management Advisory Services to the power and energy industry in India, Botswana, the Middle East, and other overseas markets. The company employs close to 2,000 professionals and generates annual consolidated revenues of over INR 600 crores.
STEAG India manages nearly 7 GW of power assets and 2,200 TPH of process steam supply capacity, including supercritical power plants and refinery utilities.
Kamal Pal Hoda, Executive Director & CEO of Bluspring Enterprises Limited, stated that the acquisition marks a significant milestone in the company's strategy to build a comprehensive infrastructure management services platform. He added that the transaction is expected to be margin and earnings-per-share accretive, enhancing the return on equity profile and creating long-term value for shareholders.
Ujjwal Kanti Bhattacharya, Managing Director of STEAG Energy Services India, noted that Bluspring is well positioned to take the business into its next phase of growth and that the transition will deliver greater value to customers.
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