diff --git a/.github/workflows/branch_preparation.yml b/.github/workflows/branch_preparation.yml
new file mode 100644
index 000000000..3deb6367f
--- /dev/null
+++ b/.github/workflows/branch_preparation.yml
@@ -0,0 +1,121 @@
+name: Branch Preparation CI
+
+on:
+  push:
+    branches:
+      - 'release/**'
+    tags:
+      - 'v[0-9]+.[0-9]+.[0-9]+**'
+
+jobs:
+  prepare_develop_branch_after_release:
+    runs-on: ubuntu-latest
+    if: ${{ github.ref_type == 'tag' }}
+    steps:
+      - uses: actions/checkout@v4
+        with:
+          fetch-depth: 0
+      - run: |
+          git checkout develop
+
+      - uses: cachix/install-nix-action@v22
+      - name: Pre-populate nix-shell
+        run: |
+          export NIX_PATH=nixpkgs=$(jq '.nixpkgs.url' nix/sources.json -r)
+          echo "NIX_PATH=$NIX_PATH" >> $GITHUB_ENV
+          nix-shell --pure --run "echo" ./shell.nix
+      - name: Test the chart version updater script
+        run: |
+            nix-shell --pure --run "./scripts/test-update-chart-version.sh" ./shell.nix
+      - name: Check if the chart is publishable
+        run: |
+            tag=${{ github.ref_name }}
+            echo "BASE=$(nix-shell --pure --run "./scripts/update-chart-version.sh --tag $tag --type develop" ./shell.nix)" >> $GITHUB_ENV
+      - name: Create Pull Request to develop
+        if:  ${{ env.BASE }}
+        id: cpr
+        uses: peter-evans/create-pull-request@v5
+        with:
+          base: ${{ env.BASE }}
+          commit-message: "chore(ci): update helm chart versions and/or git submodules"
+          committer: GitHub <noreply@github.com>
+          author: ${{ github.actor }} <${{ github.actor }}@users.noreply.github.com>
+          title: "Prepare develop branch after release ${{ github.ref_name }}"
+          labels: |
+            prepare-develop-branch
+            automated-pr
+          draft: false
+          signoff: true
+          branch: "create-pull-request/patch-${{ env.BASE }}"
+          token: ${{ secrets.GITHUB_TOKEN }}
+
+  prepare_release_branch_after_release:
+    runs-on: ubuntu-latest
+    if: ${{ github.ref_type == 'tag' }}
+    steps:
+      - uses: actions/checkout@v4
+      - uses: cachix/install-nix-action@v22
+      - name: Pre-populate nix-shell
+        run: |
+          export NIX_PATH=nixpkgs=$(jq '.nixpkgs.url' nix/sources.json -r)
+          echo "NIX_PATH=$NIX_PATH" >> $GITHUB_ENV
+          nix-shell --pure --run "echo" ./shell.nix
+      - name: Test the chart version updater script
+        run: |
+            nix-shell --pure --run "./scripts/test-update-chart-version.sh" ./shell.nix
+      - name: Check if the chart is publishable
+        run: |
+          tag=${{ github.ref_name }}
+          echo "BASE=$(nix-shell --pure --run "./scripts/update-chart-version.sh --tag $tag --type release" ./shell.nix)" >> $GITHUB_ENV
+      - name: Create Pull Request to release
+        if:  ${{ env.BASE }}
+        id: cpr
+        uses: peter-evans/create-pull-request@v5
+        with:
+          base: ${{ env.BASE }}
+          commit-message: "chore(ci): update helm chart versions and/or git submodules"
+          committer: GitHub <noreply@github.com>
+          author: ${{ github.actor }} <${{ github.actor }}@users.noreply.github.com>
+          title: "Prepare release branch after release ${{ github.ref_name }}"
+          labels: |
+              prepare-release-branch
+              automated-pr
+          draft: false
+          signoff: true
+          branch: "create-pull-request/patch-${{ env.BASE }}"
+          token: ${{ secrets.GITHUB_TOKEN }}
+
+  prepare_release_branch_on_creation:
+    runs-on: ubuntu-latest
+    if: ${{ github.ref_type == 'branch' }}
+    steps:
+      - uses: actions/checkout@v4
+      - uses: cachix/install-nix-action@v22
+      - name: Pre-populate nix-shell
+        run: |
+          export NIX_PATH=nixpkgs=$(jq '.nixpkgs.url' nix/sources.json -r)
+          echo "NIX_PATH=$NIX_PATH" >> $GITHUB_ENV
+          nix-shell --pure --run "echo" ./shell.nix
+      - name: Test the chart version updater script
+        run: |
+            nix-shell --pure --run "./scripts/test-update-chart-version.sh" ./shell.nix
+      - name: Check if the chart is publishable
+        run: |
+          branch_name=${{ github.ref_name }}
+          nix-shell --pure --run "./scripts/update-chart-version.sh --branch $branch_name" ./shell.nix
+      - name: Create Pull Request to release
+        id: cpr
+        uses: peter-evans/create-pull-request@v5
+        with:
+          base: ${{ github.ref_name }}
+          commit-message: "chore(ci): update helm chart versions and/or git submodules"
+          committer: GitHub <noreply@github.com>
+          author: ${{ github.actor }} <${{ github.actor }}@users.noreply.github.com>
+          title: "Prepare ${{ github.ref_name }} branch"
+          labels: |
+              prepare-release-branch
+              automated-pr
+          draft: false
+          signoff: true
+          branch: "create-pull-request/patch-${{ github.ref_name }}"
+          token: ${{ secrets.GITHUB_TOKEN }}
diff --git a/scripts/test-update-chart-version.sh b/scripts/test-update-chart-version.sh
new file mode 100755
index 000000000..20c1b988c
--- /dev/null
+++ b/scripts/test-update-chart-version.sh
@@ -0,0 +1,77 @@
+#!/usr/bin/env bash
+
+# Path to the script to be tested
+SCRIPT_DIR="$(dirname "$(realpath "${BASH_SOURCE[0]:-"$0"}")")"
+SCRIPT_TO_TEST="$SCRIPT_DIR/update-chart-version.sh"
+
+# Function to run a test case
+run_test() {
+  local test_name=$1
+  local expected_output=$2
+  shift 2
+  local output
+
+  echo "Running: $test_name"
+  output=$("$SCRIPT_TO_TEST" "$@" 2>&1)
+  if [ "$output" == "$expected_output" ]; then
+    echo "PASS"
+  else
+    echo "FAIL"
+    echo "Expected: $expected_output"
+    echo "Got: $output"
+  fi
+  echo "----------------------------------------"
+}
+
+# Define test cases
+run_test "Test 1: When commits are added and chart type is develop [branch creation]" \
+         "1.2.0-prerelease" \
+         --branch "release/1.2" --dry-run --chart-version "1.3.0-develop"
+
+run_test "Test 2: When commits are added and chart type is prerelease [commit pushes]" \
+         "" \
+         --branch "release/1.2" --dry-run --chart-version "1.2.0-prerelease"
+
+run_test "Test 3: Invalid branch name and chart type is prerelease" \
+         "Invalid branch name format. Expected 'release/x.y' only" \
+         --branch "feature/1.2" --dry-run --chart-version "1.2.0-prerelease"
+
+run_test "Test 4: Invalid branch name and chart type is develop" \
+         "Invalid branch name format. Expected 'release/x.y' only" \
+         --branch "feature/1.2" --dry-run --chart-version "1.2.0-develop"
+
+run_test "Test 5: Valid tag with type release and chart type is prerelease [first release] " \
+         "1.2.1-prerelease" \
+         --tag "v1.2.0" --type "release" --dry-run --chart-version "1.2.0-prerelease"
+
+run_test "Test 6: Valid tag with type release and chart type is prerelease [patch release]" \
+         "1.2.2-prerelease" \
+         --tag "v1.2.1" --type "release" --dry-run --chart-version "1.2.1-prerelease"
+
+run_test "Test 7: Tag greater than current chart type release" \
+         "For prerelease, X.Y from current chart version (1.2.1-prerelease) must exactly match X.Y from tag (1.4.0)" \
+         --tag "v1.4.0" --type "release" --dry-run --chart-version "1.2.1-prerelease"
+
+run_test "Test 8: Valid tag with type develop and chart type is prerelease [first release]" \
+         "1.3.0-develop" \
+         --tag "v1.2.0" --type "develop" --dry-run --chart-version "1.2.0-prerelease"
+
+run_test "Test 9: Valid tag with type develop and chart type is prerelease [patch release]" \
+         "1.3.0-develop" \
+         --tag "v1.2.1" --type "develop" --dry-run --chart-version "1.2.1-prerelease"
+
+run_test "Test 10: Tag is lesser than chart type develop " \
+         "" \
+         --tag "v1.0.0" --type "develop" --dry-run --chart-version "1.2.1-develop"
+
+run_test "Test 11: Tag is greater than chart type release " \
+         "1.5.0-develop" \
+         --tag "v1.4.0" --type "develop" --dry-run --chart-version "1.2.1-develop"
+
+run_test "Test 12: rc tag, with type release and chart type prerelease" \
+         "" \
+         --tag "v1.2.3-rc" --type "develop" --dry-run --chart-version "1.2.3-develop"
+
+run_test "Test 13:rc tag, with type develop and chart type develop" \
+         "" \
+         --tag "v1.2.3-rc" --type "develop" --dry-run --chart-version "1.2.4-develop"
diff --git a/scripts/update-chart-version.sh b/scripts/update-chart-version.sh
new file mode 100755
index 000000000..d3e6671fb
--- /dev/null
+++ b/scripts/update-chart-version.sh
@@ -0,0 +1,203 @@
+#!/usr/bin/env bash
+
+# Write output to error output stream.
+echo_stderr() {
+  echo -e "${1}" >&2
+}
+
+die()
+{
+  local _return="${2:-1}"
+  echo_stderr "$1"
+  exit "${_return}"
+}
+
+help() {
+  cat <<EOF
+Usage: $(basename "$0") [OPTIONS]
+
+Options:
+  --dry-run                                 Get the final version without modifying.
+  --branch <branch name>                    Name of the target branch.
+  --tag <tag>                               Release tag.
+  --chart-version <version>                 Version of the current chart.
+
+Examples:
+  $(basename "$0") --branch release/x.y
+EOF
+}
+
+check_tag_is_valid() {
+    local tag="$1"
+    local current_chart_version="$2"
+
+    if [[ "$current_chart_version" == *"-prerelease" ]]; then
+      allowed_diff=("" "patch" "prerelease")
+      diff="$(semver diff "$tag" "$current_chart_version")"
+      if ! [[ " ${allowed_diff[*]} " =~ " $diff " ]]; then
+        die "For prerelease, X.Y from current chart version ($current_chart_version) must exactly match X.Y from tag ($tag)"
+      fi
+    elif [[ "$current_chart_version" == *"-develop" ]]; then
+      compare="$(semver compare "$tag" "$current_chart_version")"
+      if [[ "$compare" == "-1" ]]; then
+        NO_OP=1
+      fi
+    fi
+}
+
+# yq-go eats up blank lines
+# this function gets around that using diff with --ignore-blank-lines
+yq_ibl()
+{
+  set +e
+  diff_out=$(diff -B <(yq '.' "$2") <(yq "$1" "$2"))
+  error=$?
+  if [ "$error" != "0" ] && [ "$error" != "1" ]; then
+    exit "$error"
+  fi
+  if [ -n "$diff_out" ]; then
+    echo "$diff_out" | patch --quiet --no-backup-if-mismatch "$2" -
+  fi
+  set -euo pipefail
+}
+
+# RULES: This would run only when changes are pushed to a release/x.y branch.
+# 1. Branch name can only be of format release/x.y
+# 2. If current chart version of type develop(only possible on branch creation), 
+#    then version generated is of format x.y.0-prerelease.
+# 3. If current chart version of type prerelease(after branch creation and initial automated PR's merge), 
+#    the workflow would be a no op, as it's already in a prerelease format.
+create_version_from_release_branch() {
+  if [[ "$BRANCH_NAME" =~ ^(release/[0-9]+\.[0-9]+)$ ]]; then
+    local EXTRACTED_VERSION=$(echo "$BRANCH_NAME" | grep -oP '(?<=release/)\d+\.\d+')
+    if [[ "$CURRENT_CHART_VERSION" == *"-develop" ]]; then
+      VERSION="${EXTRACTED_VERSION}.0-prerelease"
+    elif [[ "$CURRENT_CHART_VERSION" == *"-prerelease" ]]; then
+      NO_OP=1
+    else
+      die "Current chart version doesn't match a develop or prerel format"
+    fi
+  else
+    die "Invalid branch name format. Expected 'release/x.y' only"
+  fi
+}
+
+# RULES: This would run only when tag is created.
+# 1. Tag should be of format vX.Y.Z.
+# 2. If tag is of format vX.Y.Z-rc, it would be a no op for the workflow.
+# 3. The tag can only be vX.Y.Z if the current chart version is X.Y*-prerelease. Ex, v2.6.1 for v2.6.*-prerelease
+# 4. The tag can only be vX.Y.Z if the current chart version is X.Y+1*-develop. Ex, v2.6.1 for v2.7.*-develop
+# 5. For release branches if all the above holds then it bumps the patch version. Ex, v2.6.1 --> 2.6.2-prerelease
+# 6. For develop branches if all the above holds then it bumps the minor version. Ex, v2.6.1 --> 2.7.0-develop
+create_version_from_tag() {
+  if [[ "$TAG" =~ ^(v[0-9]+\.[0-9]+\.[0-9]+)$ ]]; then
+    local EXTRACTED_VERSION=$(echo "$TAG" | grep -oP '(?<=v)\d+\.\d+.\d+')
+    check_tag_is_valid "$EXTRACTED_VERSION" "$CURRENT_CHART_VERSION" 
+    if [[ $TYPE == "release" ]]; then
+      VERSION="$(semver bump patch $EXTRACTED_VERSION)-prerelease"
+      if [[ -z $DRY_RUN ]];then
+        echo "release/$(echo $EXTRACTED_VERSION | cut -d'.' -f1,2)"
+      fi
+    elif [[ $TYPE == "develop" ]]; then
+      VERSION="$(semver bump minor $EXTRACTED_VERSION)-develop"
+      if [[ -z $DRY_RUN ]];then
+        echo "develop"
+      fi
+    else
+      die "Invalid type. Expected 'release' or 'develop'."
+    fi
+  elif [[ "$TAG" == *"-rc" ]]; then
+    NO_OP=1
+  else
+    die "Invalid tag format. Expected 'vX.Y.Z'"
+  fi
+}
+
+update_chart_yaml() {
+  local VERSION=$1
+  local APP_VERSION=$2
+
+  yq_ibl ".version = \"$VERSION\" | .appVersion = \"$APP_VERSION\"" "$CHART_YAML"
+  yq_ibl ".version = \"$VERSION\"" "$CRD_CHART_YAML"
+  yq_ibl "(.dependencies[] | select(.name == \"crds\") | .version) = \"$VERSION\"" "$CHART_YAML"
+  yq_ibl ".zfsPlugin.image.tag = \"$VERSION\"" "$VALUES_YAML"
+}
+
+set -euo pipefail
+
+DRY_RUN=
+NO_OP=
+CURRENT_CHART_VERSION=
+# Set the path to the Chart.yaml file
+SCRIPT_DIR="$(dirname "$(realpath "${BASH_SOURCE[0]:-"$0"}")")"
+ROOT_DIR="$SCRIPT_DIR/.."
+CHART_DIR="$ROOT_DIR/deploy/helm/charts"
+CHART_YAML="$CHART_DIR/Chart.yaml"
+VALUES_YAML="$CHART_DIR/values.yaml"
+CRD_CHART_NAME="crds"
+CRD_CHART_YAML="$CHART_DIR/charts/$CRD_CHART_NAME/Chart.yaml"
+# Final computed version to be set in this.
+VERSION=""
+
+# Parse arguments
+while [ "$#" -gt 0 ]; do
+  case $1 in
+    -d|--dry-run)
+      DRY_RUN=1
+      shift
+      ;;
+    -h|--help)
+      help
+      exit 0
+      ;;
+    -b|--branch)
+      shift
+      BRANCH_NAME=$1
+      shift
+      ;;
+    -t|--tag)
+      shift
+      TAG=$1
+      shift
+      ;;
+    --type)
+      shift
+      TYPE=$1
+      shift
+      ;;
+    --chart-version)
+      shift
+      CURRENT_CHART_VERSION=$1
+      shift
+      ;;
+    *)
+      help
+      die "Unknown option: $1"
+      ;;
+  esac
+done
+
+if [[ -z $CURRENT_CHART_VERSION ]]; then
+  CURRENT_CHART_VERSION=$(yq e '.version' "$CHART_YAML")
+fi
+
+if [[ -n "${BRANCH_NAME-}" ]]; then
+  create_version_from_release_branch
+elif [[ -n "${TAG-}" && -n "${TYPE-}" ]]; then
+  create_version_from_tag
+else
+  help
+  die "Either --branch or --tag and --type must be specified."
+fi
+
+if [[ -z $NO_OP ]]; then
+  if [[ -n $VERSION ]]; then
+    if [[ -z $DRY_RUN ]];then
+      update_chart_yaml "$VERSION" "$VERSION"
+    else
+      echo "$VERSION"
+    fi
+  else
+    die "Failed to update the chart versions"
+  fi
+fi