Ion Exchange (India) Ltd Secures ₹205 Crore Solar Water Projects Order from Rayzon Energy, INOX Solar

Mumbai, 16 December 2025: Ion Exchange (India) Limited (NSE: IONEXCHANG) informed stock exchanges that it has secured multiple domestic contracts aggregating approximately ₹205 crore for ultra-pure water, wastewater treatment and zero liquid discharge (ZLD) systems. 

The orders have been awarded by Rayzon Energy Private Limited and INOX Solar Limited, strengthening the company’s presence in large-scale renewable energy infrastructure projects.

Ion Exchange (India) Limited, headquartered in Mumbai, operates in the water and environmental management solutions space, delivering technologies across industrial, municipal and infrastructure sectors. 

₹͏95 Cr͏ore Order for 5.1 ͏GW ͏Photovoltaic͏ Solar Project in Gujarat

The first contract, valued at around ₹95 crore, has been awarded by Rayzon Energy Private Limited for its 5.1 GW photovoltaic solar project at Kathwada Village, Surat (Gujarat). The scope includes ultra-pure water systems, effluent treatment plants (ETP) and zero liquid discharge facilities supporting process and utility requirements.

₹110 Crore Contract for Ultra-Pure Water and ZLD Systems in Odisha

The second contract, amounting to approximately ₹110 crore, has been awarded by INOX Solar Limited. This project involves engineering, procurement and construction of ultra-pure water generation systems, wastewater treatment and zero liquid discharge infrastructure for a solar cell manufacturing facility in Odisha. Both orders have been awarded by domestic entities, reinforcing Ion Exchange’s role in India’s clean energy supply chain.

9-10 Month Execution Timeline Links Order Inflows to Near-Term Project Delivery

Ion Exchange stated that the contracts are expected to be executed within 9 months and 10 months, respectively, from the project award dates. The defined timelines provide clarity on delivery schedules and operational deployment, while the nature of the projects reflects increasing water management requirements in high-capacity renewable energy manufacturing.

No Promoter Interest or Related Party Exposure in Awarding Entities

The company confirmed that neither the promoter nor the promoter group has any interest in Rayzon Energy Private Limited or INOX Solar Limited. Additionally, the contracts do not fall under related party transactions, aligning the disclosures with governance norms under the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Share Price Gain 5.80% after Order Wins

Ion Exchange (India) Ltd share price rose 5.80% to ₹404.35 on the NSE by 2:01 PM IST on 16 December 2025, following the disclosure of the ₹205 crore order wins. The stock opened at ₹390.00. The company’s market capitalisation stood at ₹4.97 crore, with the stock trading below its 52-week high of ₹738.50.

The contract awards highlight Ion Exchange’s growing engagement with large-scale solar manufacturing projects requiring specialised water and wastewater solutions. With defined execution timelines, no related party exposure and domestic counterparties, the development reflects operational expansion within India’s renewable energy infrastructure ecosystem while maintaining regulatory and governance transparency.

Source: https://www.bseindia.com/xml-data/corpfiling/AttachLive/0ae04224-4d97-409c-84ca-011973d26f3b.pdf

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