ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Amforge Industries

IN THE CAPITAL MARKET Polar Latex POLAR LATEX, a new company in the Polar group, is entering the capital market on June 19 with a public issue of 16,4 lakh equity shares of Rs 10 each for cash at par totalling Rs 1.65 crore. A Rs 9.50 crore project in the joint sector with industrial Promotion and Investment Corporation of Orissa for the manufacture of rubber prophylactics (condoms) with an installed capacity of 160 million pieces a year is being set up by the company at Somnathpur Industrial Estate in Orissa. The company has a technical collaboration arrangement with Hindustan Latex, Commercial production will commence towards the end of this year According to Anil Kumar Agarwal, director, the country's demand for condoms is in the neighbourhood of 1,300 million pieces against an installed capacity of 1,213 million pieces. In addition, the government will take in 70 per cent of the production. The company has export enquiries from the USSR and North America. The turnover is expected to be in 1992-93 when the company expects to

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