Jindal Steel & Power (JSPL), through its wholly owned subsidiary Jindal Steel Odisha (JSO), has acquired Allied Strips Limited (ASL) for Rs 2.17 billion in cash, making ASL a subsidiary of the company. The acquisition is expected to strengthen JSO’s product portfolio and create operational synergies, as steel produced by JSO can serve as raw material for ASL. Established in 1992, ASL manufactures and supplies a wide range of steel products, including hot rolled coils, cold rolled coils, and CRCA steel. Its output serves key industries such as automotive, white goods, and precision tubes. (Business Standard)