Agri-inputs maker SML weighing IPO in 2-3 yrs to fund new chemical entities

Agri-inputs maker SML Ltd, formerly known as Sulphur India Limited, is evaluating a stock market listing within the next two to three years as it looks to fund the development of new chemical entities (NCEs), Managing Director Bimal Shah said.

"We have not completely decided - we are also evaluating it," Shah said in an interview to PTI, adding that the debt-free company expects greater clarity on the timeline within the next one to two years.

Mumbai-based SML Ltd said it is among a handful of Indian companies developing NCEs - proprietary new molecules rather than generic formulations - with one new molecule expected to reach the market soon and others in the pipeline.

"We are working on NCEs, new chemical entity in the last three years.

We have a new molecule coming up very soon. ...

NCE is a very important focus for us.

Of course, this requires a lot of investment," he said.

Bringing a single NCE to market can cost USD 70 million-USD 80 million, Shah said, and the company has so