Hi guys, I found the answer for my above problem, Follow the above code of Rahul with some changes to set your own color,
-(void)changeColor
{
UIImage *temp23=Image;//Pass your image here
CGImageRef ref1=[self createMask:temp23];
const float colorMasking[6] = {1.0, 3.0, 1.0, 2.0, 2.0, 3.0};
CGImageRef New=CGImageCreateWithMaskingColors(ref1, colorMasking);
UIImage *resultedimage=[UIImage imageWithCGImage:New];
EditImageView.image = resultedimage;
[EditImageView setNeedsDisplay];
}
-(CGImageRef)createMask:(UIImage*)temp
{
CGImageRef ref=temp.CGImage;
int mWidth=CGImageGetWidth(ref);
int mHeight=CGImageGetHeight(ref);
int count=mWidth*mHeight*4;
void *bufferdata=malloc(count);
CGColorSpaceRef colorSpaceRef = CGColorSpaceCreateDeviceRGB();
CGBitmapInfo bitmapInfo = kCGBitmapByteOrderDefault;
CGColorRenderingIntent renderingIntent = kCGRenderingIntentDefault;
CGContextRef cgctx = CGBitmapContextCreate (bufferdata,mWidth,mHeight, 8,mWidth*4,
colorSpaceRef, kCGImageAlphaPremultipliedLast);
CGRect rect = {0,0,mWidth,mHeight};
CGContextDrawImage(cgctx, rect, ref);
CGContextSaveGState(cgctx);
CGContextSetBlendMode(cgctx, kCGBlendModeColor);
CGContextSetRGBFillColor (cgctx, 1.0, 0.0, 0.0, 1.0);
CGContextFillRect(cgctx, rect);
bufferdata = CGBitmapContextGetData (cgctx);
const float colorMasking[6] = {1.0, 3.0, 1.0, 2.0, 2.0, 3.0};
CGDataProviderRef provider = CGDataProviderCreateWithData(NULL, bufferdata, mWidth*mHeight*4, NULL);
CGImageRef savedimageref = CGImageCreate(mWidth,mHeight, 8, 32, mWidth*4, colorSpaceRef, bitmapInfo,provider , NULL, NO, renderingIntent);
CFRelease(colorSpaceRef);
return savedimageref;
}