Jindal Steel & Power, via its subsidiary Jindal Steel Odisha Limited (JSO), has fully acquired Allied Strips for Rs 217.53 crore in cash, with Rs 50 lakhs withheld pending certain conditions. This acquisition, involving 100 per cent equity in ASL, the optionally convertible debenture, and novation of intercompany debt, is not a related party transaction, and no promoter group interest exists.
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