Upcoming IPO, July 4 -- The capital market regulator, the Securities and Exchange Board of India (SEBI), has approved the Draft Red Herring Prospectus (DRHP) of VL Infraprojects Limited, paving the way for the company to launch its initial public offering (IPO). The company had submitted its papers with the market regulator proposing to launch its SME IPO for listing on the NSE SME Emerge Platform. As per the company's claims, the company has proposed to launch up to 44,10,000 company shares with a face value of Rs.10 per equity share in this upcoming IPO.

In the pre-IPO phase, the company's total paid-up capital is 1,13,02,500, which will go up to 1,57,12,500 equity shares after listing this NSE SME IPO. Currently, the company promoters...