People s Radios

fertiliser consortium and an admittedly sluggish capital market have not deterred Indian Explosives (an ICI subsidiary) from announcing a public issue of Rs 2.86 crores for its Kanpur fertiliser plant. Of the Rs 62 crores required for the project, Rs 16 crores are to be raised as additional equity capital. Imperial Chemical Industries (UK) are taking shares worth Rs 7.60 crores, International Finance Corporation Rs 2.15 crores and Government of India Rs 1.90 crores. Of the remainder, Rs 2.17 crores is being offered to existing shareholders of Indian Explosives tether than Government of India and ICI).