India’s Jindal Steel & Power Limited (JSPL) has acquired Allied Strips Limited (ASL) for Rs 217.53 crore in cash. The acquisition was completed through Jindal Steel Odisha Limited (JSO), a wholly-owned subsidiary of JSPL.

ASL specializes in the manufacture and supply of steel products, including hot rolled coils, cold rolled coils, and cold rolled close annealed steel. Its customer base is extensive, covering multiple industries such as automobiles, home appliances, and precision steel pipes.

JSPL said that the acquisition will help JSO expand its product portfolio and create significant synergies with its existing steel manufacturing business as the steel products produced by JSO can be further value-added processed at ASL's plant in Haryana, northern India.