Jindal Steel & Power Expands Steel Business with Allied Strips Acquisition

Jindal Steel & Power Limited (JSPL), through its wholly owned subsidiary, Jindal Steel Odisha Limited (JSO), has acquired full ownership of Allied Strips Limited (ASL), marking a strategic step towards strengthening its downstream steel processing capabilities.

Details of the Acquisition 

ASL, incorporated under the Companies Act, 1956, is a public company engaged in the manufacturing and supply of steel products. The company operates a processing facility in Bahadurgarh, Haryana, with a capacity to handle over 3,00,000 metric tonnes of hot rolled (HR) coil per annum. Its product portfolio includes hot rolled coils, cold rolled coils, and Cold Rolled Close Annealed (CRCA) steel, catering to sectors such as automotive, white goods, and precision tubes. ASL recorded a turnover of ₹4.84 crore in FY24.

The total transaction value stands at ₹217.53 crore, paid in cash. This includes:

• Acquisition of 100% equity stake in ASL.
• Purchase of optionally convertible debentures issued by ASL.
• Novation of intercompany unsecured debt.

An amount of ₹50 lakh has been withheld and will be released upon the fulfilment of certain post-closing conditions. As of the disclosure date, 691 equity shares are still pending transfer to JSO.

Object of the Acquisition 

The acquisition of ASL is expected to bring substantial synergies to JSPL’s operations. Steel produced by JSO can now be used as raw material in ASL’s processing unit, enabling JSPL to move further downstream and diversify its product offerings in high-value segments.

Jindal Steel & Power Share Price Performance

On April 3, 2025, Jindal Steel & Power share price (NSE: JINDALSTEL) opened at ₹900.00 and closed at ₹904.00, down by 0.61%. The stock price touched its day’s low at ₹898.30.  

Conclusion 

This strategic move reinforces JSPL’s long-term plan to expand its footprint in value-added steel products and deepen its presence in customer-centric steel solutions.

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