Incorporated in Apr.'83 and promoted by B M Patel, Nariman Point Chemical Industries (NPCIL) manufactures and markets borax and boric acid. It has its plant at Umbergaon with a capacity of 2400 tpa for boric acid and 3600 tpa for borax. It has set up another plant at Surat with a capacity of 3000 tpa for boric acid and 9000 tpa for borax. The company markets its products under the Hindustan brand name. The company commissioned its plant for boric acid IP grade and borax pentahydrate, while the plant for boric anhydride and borax anhydrous are nearing completion. In Feb.'94 the company came out with an issue at a premium of Rs 3, aggregating Rs 9.1 cr, to part-finance a project to manufacture boric anhydride (cap. : 800 tpa), boric acid IP / BP (cap. : 1000 tpa), borax anhydrous (cap. : 1600 tpa) and borax pentahydrate (cap. : 15,000 tpa). A new unit is developed in Southern India for preservation of rubber wood, with a mixture of Borax and Boric Acid which nowadays can be used for making furniture.