Acquisitions3 Apr 2025, 08:00 pm
Jindal Steel & Power Acquires Allied Strips Limited for INR 217.53 Cr, Expanding Its Steel Manufacturing Business
AI Summary
Jindal Steel & Power Ltd (JSPL) announced the acquisition of Allied Strips Limited (ASL) through its wholly-owned subsidiary, Jindal Steel Odisha Limited. ASL, a public company based in Haryana, specializes in manufacturing and supplying steel products, with a focus on hot and cold-rolled coils and CRCA steel. The acquisition, completed for a total consideration of INR 217.53 Cr, provides JSPL with a wider product portfolio and synergies with its existing steel manufacturing business. ASL has a facility with a capacity to process over 3,00,000 metric tonne of HR coil per annum, serving diverse sectors like automotive, white goods, and precision tubes.
Key Highlights
- JSPL acquires 100% equity in ASL for INR 217.53 Cr
- ASL specializes in manufacturing and supplying steel products
- Acquisition to expand JSPL's product portfolio and create synergies
- ASL has a processing capacity of over 3,00,000 metric tonne of HR coil per annum
- ASL serves diverse sectors, including automotive, white goods, and precision tubes