Bluspring Enterprises Limited has announced a postal ballot seeking shareholder approval for its comprehensive Employee Stock Option Scheme 2026. The company issued the notice on February 3, 2026, outlining five special resolutions that require shareholder consent through remote e-voting.

Employee Stock Option Scheme Overview

The proposed 'Bluspring Enterprises Limited – Employee Stock Option Scheme 2026' (ESOS 2026) represents a strategic initiative to attract and retain talent during the company's growth phase. The scheme will be administered through an irrevocable employee welfare trust named 'Bluspring ESOP Trust'.

Postal Ballot Resolutions

Shareholders will vote on five interconnected special resolutions:

Voting Timeline and Process

The remote e-voting process will be conducted through Central Depository Services (India) Limited (CDSL). Key dates for the postal ballot process include:

Scheme Features and Eligibility

The ESOS 2026 targets eligible employees of the company and its subsidiaries, both in India and internationally. The scheme excludes promoters, independent directors, and directors holding more than 10% equity shares. Vesting will be subject to both corporate and individual performance conditions, with a minimum vesting period of 1 year.

The exercise price per option will be set at the face value of shares, ensuring alignment with regulatory requirements. The scheme incorporates performance-based vesting with 50% options tied to individual performance and 50% to corporate performance metrics including revenue, EBITDA, and operating cash flow targets.

Trust Structure and Financing

The company will establish the 'Bluspring ESOP Trust' with designated trustees including Qapita Equitytech Limited as corporate trustee and three individual trustees. The company may provide interest-free loans up to 5% of paid-up capital and free reserves to facilitate share acquisition by the trust.

Mr. B. Hemanth (FCS 6374; CP 6519), Practicing Company Secretary from M/s. Hemanth, Holla & Co, Bengaluru, has been appointed as the scrutinizer for the postal ballot process. The notice emphasizes that trustees will not exercise voting rights on shares held in the trust, maintaining compliance with regulatory requirements.

Source: None/Company/INE0U4101014/5070d86b-9575-4b9c-be57-a68c4a88d82d.pdf

Bluspring Enterprises Limited has announced a significant acquisition in the power services sector through its wholly owned subsidiary. The company disclosed that Bluspring New Horizon One Private Limited executed a Share Purchase Agreement on March 19, 2026, to acquire 100% shareholding in STEAG Energy Services India Private Limited for ₹180 crores.

Strategic Expansion in Power Infrastructure

The acquisition marks a significant milestone in Bluspring's long-term strategy to build a comprehensive, end-to-end infrastructure management services platform. STEAG India is a leading service provider of Operations and Maintenance, Digital Solutions, and end-to-end Engineering & Management Advisory Services to the conventional and renewable power industry across India, Botswana, Middle East and other overseas markets.

About STEAG Energy Services India

Founded in 2001, STEAG Energy Services India Private Limited operates with a workforce of nearly 2,000 professionals and generates annual consolidated revenues of over ₹600 crores. The company is currently a wholly owned subsidiary of STEAG Power GmbH, a leading energy company in Germany.

Financial and Operational Metrics

Enhanced Capabilities and Digital Solutions

The acquisition significantly enhances Bluspring's capabilities across upstream and downstream power services. STEAG India's established digital capabilities in Performance Monitoring, Predictive Analytics, Diagnostics and Training Simulator with Flexibilization and Simulation studies will further enhance Bluspring's ability to deliver high-value, technology-enabled operations and maintenance solutions to its global client base.

Management Commentary

Kamal Pal Hoda, Executive Director & CEO of Bluspring Enterprises Limited, stated that with India's installed power generation capacity now exceeding 500 GW, the sector offers substantial growth opportunities. The company expects the transaction to be margin and EPS-accretive, enhancing return on equity profile over the near to medium term.

Ujjwal Kanti Bhattacharya, Managing Director of STEAG Energy Services India, expressed confidence that Bluspring's growing infrastructure services platform and strong engineering capabilities position the company well for the next phase of growth.

Corporate Structure and Regulatory Approvals

Post completion of the share transfer, STEAG Energy Services India will become a wholly owned subsidiary of Bluspring Enterprises Limited. The company has two subsidiaries that will become step-down subsidiaries of Bluspring New Horizon One Private Limited:

• STEAG Energy Services (Botswana) (Pty) Ltd. - a wholly-owned subsidiary in Botswana
• STEAG O&M Company Private Limited - a joint venture with Hinduja Energy (India) Limited

The transaction is expected to close within 60-90 days, subject to customary closing conditions and does not constitute a related party transaction.