Tube Investments to split operations into two entities - Financial Services and Manufacturing

The board of Tube Investments of India Ltd. (TIIL) has decided to split its operations into two entities — financial services and manufacturing.

It has decided to move manufacturing business to TI Financial Holdings Ltd. (TIFHL).

The appointed date of scheme of arrangement is April 1, 2016

TIFHL would carry on the business of manufacturing

TIIL would carry on financial services through its subsidiaries