Tube Investments to demerge financial and manufacturing businesses

Tube Investments will demerge its financial and manufacturing businesses. In an interview to CNBC-TV18, L Ramkumar, MD of Tube Investments spoke about the latest happenings in his company and sector.

The demerger is effective from August 1, the two companies have been formed, Tube Investments of India Ltd (TIL) and TI Financials Holdings Ltd (TIFHL), he said.

TIL will have the manufacturing operations and also the manufacturing subsidiary and TIFHL will hold the shares in Cholamandalam Finance and Cholamandalam Insurance, he added.

Both the companies will get listed at the same time, said Ramkumar.