Mumbai, July 10 -- The order is valued at $52.83 million (approximately Rs 503 crore) based on the prevailing exchange rate. The project is scheduled to be executed over a period of 18 months.

The company said the contract involves the supply of filtration units for a project in the Middle East. It clarified that the order does not fall under the category of related-party transactions and that neither its promoters nor promoter group entities have any interest in the award of the contract.

Ion Exchange India operates in three key segments-engineering, chemical and consumer products-and has six factories in five states. The engineering segment plans and executes orders for installation of large and medium-sized water and effluent treatme...