The present invention relates to an apparatus for deep drawing a blank into a product, comprising: a die having a cavity to receive and shape the blank; and a punch positioned on an upper portion of the die; characterised by an intermediate tool comprising a first segment and a second segment for holding and punching the blank; wherein the intermediate tool and the punch are independently downwardly extendable to draw the blank over the cavity of the die for forming the product. A method for deep drawing a blank into a product using the apparatus is also disclosed in the present invention.