Bluspring Enterprises share rally sharply over 15% after bagging huge order worth Rs 2,049.8 crore from BALCO for power plant operations

Bluspring Enterprises Limited shares rally over 15% after company has announced that its wholly-owned step-down subsidiary, STEAG Energy Services (India) Private Limited, has been awarded a major operations and maintenance (O&M) contract by Bharat Aluminium Company Limited (BALCO).

According to the company’s regulatory filing, the contract involves the comprehensive operations and maintenance of BALCO’s 1,740 MW power plant. The estimated aggregate value of the contract, including additional services, is approximately ₹2,049.8 crore.

The agreement will come into effect from July 1, 2026, and will remain valid for a period of 60 months. The long-term nature of the contract is expected to provide sustained business opportunities for STEAG Energy Services over the next five years.

Under the scope of work, STEAG Energy Services will be responsible for the comprehensive operation and maintenance of the power generation facility, ensuring efficient plant performance and reliability throughout the contract period.

Bluspring Enterprises clarified that the contract has been awarded by a domestic entity and does not constitute a related-party transaction. The company further stated that neither its promoters nor promoter group companies have any interest in Bharat Aluminium Company Limited.

The order represents a significant addition to the company’s order book and reinforces STEAG Energy Services’ position in the power plant operations and maintenance segment. Large-scale contracts of this nature highlight the growing demand for specialized energy management and maintenance services in India’s power sector.