Technocraft Ventures, a wastewater treatment solutions provider and public infrastructure development firm, has filed draft papers with markets regulator Sebi to launch an initial public offering (IPO).The IPO will comprise a fresh issue of up to 95.05 lakh equity shares and an offer for sale (OFS) of up to 23.76 lakh shares by promoter Kartikey Constructions, according to the draft red herring prospectus (DRHP) filed on Friday, PTI reported.Net proceeds of Rs 138 crore from the fresh issue will be used to fund working capital requirements, with the remaining amount allocated for general corporate purposes.Incorporated in 1998, Gautam Budha Nagar-based Technocraft Ventures executes turnkey engineering, procurement and construction contracts across wastewater treatment, public utility operations and maintenance, and electrical transmission and distribution projects. The company has completed assignments under flagship schemes like the Atal Mission for Rejuvenation and Urban Transformation, Namami Gange Programme, and Pradhan Mantri Gram Sadak Yojana, as well as projects backed by multilateral agencies such as the Asian Development Bank.As of June 30, 2025, the company’s order book for ongoing projects stood at Rs 685.83 crore, including four joint venture projects worth Rs 383.86 crore. Competitors include Denta Water, VA Tech Wabag, EMS Ltd, and Enviro Infra Engineers.In FY25, Technocraft Ventures reported revenue from operations of Rs 279.56 crore and a profit after tax of Rs 28.20 crore.Shares are proposed to be listed on both the BSE and NSE. Khambatta Securities is the sole book-running lead manager, while Bigshare Services will act as registrar to the issue.