Jindal Steel & Power Ltd , through its wholly owned subsidiary, Jindal Steel Odisha Limited has acquired shareholding in Allied Strips Limited. Now, Allied Strips Limited has become a subsidiary of the Company Allied Strips Limited facility located in Bahadurgarh district of Haryana with capacity to process over 3,00,000 metric tonne of HR coil per annum and produce a variety of steel items, including hot rolled coils, cold rolled coils, Cold Rolled Close Annealed (CRCA) steel, serving diverse sectors, including automotive, white goods, precision tubes etc. Total consideration = 217.53 Cr in cash Rationale = The acquisition of ASL will help JSO expand its product portfolio and provide significant synergies with the existing steel manufacturing business (steel produced in JSO can be used as a raw material in ASL)

#WatchOutFor#FundamentalViews#StockInNews