Quantum theoretical treatment of coherent forward scattering of light in a polarized atomic ensemble with an arbitrary angular momentum is developed. We consider coherent forward scattering of a weak radiation field interacting with a realistic multi-level atomic transition. Based on the concept of an effective Hamiltonian and on the Heisenberg formalism, we discuss the coupled dynamics of the quantum fluctuations of the polarization Stokes components of propagating light and of the collective spin fluctuations of the scattering atoms. We show that in the process of coherent forward scattering this dynamics can be described in terms of a polariton-type spin wave created in the atomic sample. Our work presents a general example of entangling process in the system of collective quantum states of light and atomic angular momenta, previously considered only for the case of spin-1/2 atoms. We use the developed general formalism to test the applicability of spin-1/2 approximation for modelling the quantum non-demolishing measurement of atoms with a higher angular momentum.