@A_B Its not a split, just a demerger of one business from parent company. In the process of demerger. The original shares of the company will remain as is. For instance, if I held 100 shares of Oriental Carbon & Chemicals Limited, ill be getting 500 shares of OCCL (the demerged company has the same name as parent company) and I also hold 100 shares of Oriental Carbon & Chemicals Limited (this will maybe name changed later). However, valuation of both the companies (COA) will be published by the company in a different circular.
This is similar to what Reliance did with Jio. You can check the flow here.