Bluspring Enterprises Limited has informed the Exchange about Acquisition
BLUSPRING · price
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Bluspring Enterprises, through its wholly owned subsidiary Bluspring New Horizon One Pvt Ltd (BNHOPL), has signed a Share Purchase Agreement to acquire 100% of STEAG Energy Services (India) Pvt Ltd (SESI) from STEAG Energy GmbH on a fully diluted basis. The deal is worth INR 180 crore in cash and is expected to close within 120 days, subject to Competition Commission of Botswana approval. SESI is a 25-year-old power sector services firm providing O&M, digital, and engineering services, with a turnover of INR 481 crore, profit after tax of INR 27 crore, and net worth of INR 201 crore in FY25, supported by around 2,000 professionals. The company stated the acquisition is part of its strategy to expand its industrial vertical, is margin and EPS accretive, and offers international expansion opportunities through SESI's presence in India, Botswana, Dubai, and Bangladesh. The deal is not a related party transaction.
The acquisition adds a sizeable, profitable business (revenue nearly 2.7x the deal value) to Bluspring's industrial vertical, with management projecting it to be accretive to margins, EPS, and return on equity — generally a positive signal for shareholders, though deal closure is still subject to regulatory approval.