Technocraft Ventures, a wastewater treatment solutions provider, has filed draft papers with capital markets regulator Securities and Exchange Board of India (SEBI) to mobilise funds through an Initial Public Offering (IPO). The IPO is a combination of fresh issuance of up to 95.05 lakh equity shares and an offer for sale of up to 23.76 lakh shares by promoter Kartikey Constructions.

The net proceeds from the fresh issue to the tune of Rs 138 crore will be utilised to fund the working capital requirements of the company and the balance for general corporate purposes, according to the draft papers. Khambatta Securities is the sole book running lead manager to the IPO. The shares of the company are proposed to be listed on the BSE and the NSE. 

Incorporated in 1998, Technocraft Ventures is a multidisciplinary public infrastructure development company engaged in the execution of turnkey engineering, procurement and construction contracts, including wastewater treatment, operation and maintenance of public utilities, electrical transmission and distribution networks.