MSL Seamless Tubes to demerge into two companies

MSL Seamless Tubes is splitting into two entities: MSL Seamless Tubes (pipes & solar in Maharashtra) and United Seamless (Telangana operations & Rajasthan solar). Promoters will hold 70.3% in both firms; public shareholders get 29.69%. Every 5 shares held entitle one share in each new company. The stock has risen 25% this year.