Ashish Dhawan Increases Stake In This Small-Cap Multibagger Stock; Company Secures Rs 1,437 Crore Vedanta Contract

On Friday, Indian benchmark indices traded higher, with the Nifty 50 index gaining 0.49 per cent to 24,293.95. Amid the broader market strength, Bluspring Enterprises share price traded at Rs 123.70, up 3.22 per cent, after the company announced a major order win from Vedanta Aluminium.

Bluspring Enterprises Subsidiary Secures Rs 1,437.17 Crore Order

Bluspring Enterprises informed the stock exchanges that its wholly owned step-down subsidiary, STEAG Energy Services (India) Private Limited, has secured a Comprehensive Operations and Maintenance (O&M) contract for Vedanta Aluminium Metal Limited's 1,215 MW captive power plant.

The estimated aggregate contract value, including additional services, stands at Rs 1,437.17 crore (excluding applicable Taxes). The contract will remain in force for five years, commencing August 1, 2026. The company also clarified that the order has been awarded by a domestic entity, with no promoter interest involved and that it does not constitute a related-party transaction.

Bluspring Enterprises Shareholding Pattern

According to the latest March 2026 shareholding pattern, Ace Investor Ashish Dhawan increased his stake in the company to 6.30 per cent, up from 4.97 per cent in the December 2025 quarter.

During the same period, promoter holding stood at 58.16 per cent, while Foreign Institutional Investors (FIIs) held 5.71 per cent and Domestic Institutional Investors (DIIs) owned 8.71 per cent of the company.
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About Bluspring Enterprises

Bluspring Enterprises Limited is an integrated business services company providing engineering, operations and maintenance (O&M), and asset management solutions across the energy, utilities and industrial infrastructure sectors. Through its subsidiaries, the company undertakes end-to-end services for power plants, industrial facilities and utility infrastructure projects.

The company executes long-term operations and maintenance contracts for captive and utility-scale power plants while offering specialised technical and engineering support to clients across India. Its service portfolio is focused on enhancing operational efficiency, asset reliability and lifecycle management for critical infrastructure assets.

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Disclaimer: The article is for informational purposes only and not investment advice.