The Board of Directors of Ion Exchange (India) Limited approved the adoption of the new Employee Stock Option Scheme, 2026 (“ESOP 2026”). The scheme, intended for employee welfare, involves granting up to 17,00,000 (Seventeen Lakhs) options, exercisable into equity shares. The Board also reconstituted the Employee Stock Option Committee, appointing Mrs. Alka Arora Misra as the Chairperson. The exercise price will be set at a discount of up to 15% from the Market Price on the Grant Date.
Board Sanctions New Employee Stock Option Scheme
On Wednesday, March 18, 2026, the Board of Directors of Ion Exchange (India) Limited held a meeting where they formally approved the implementation of the “Ion Exchange (India) Limited Employee Stock Option Scheme, 2026” (referred to as “ESOP 2026”). This scheme will be operationalized through an irrevocable employee welfare trust set up by the Company.
Key Details of ESOP 2026 Grant
The scheme authorizes the grant of up to 17,00,000 (Seventeen Lakhs) employee stock options, which will be determined by the Nomination and Remuneration Committee. The equity shares arising from the exercise will be acquired via secondary acquisition.
Pricing Formula and Vesting
- The Exercise Price per Option will be determined by the Committee, subject to a maximum discount of 15% on the Market Price of the Shares on the Grant Date.
- The Exercise Price cannot be less than the face value of the Share (₹1/-).
- The minimum Vesting Period is set at 1 (One) year, and the maximum Vesting Period is 4 (Four) years from the Grant Date.
- The Exercise Period for Vested Options shall be a maximum of 4 (Four) years from the date of each Vesting.
Reconstitution of Option Committee
In connection with the new scheme, the Board approved the reconstitution of the Employee Stock Option Committee. The approved members are:
- Mrs. Alka Arora Misra – Chairperson
- Mr. David Rasquinha – Member
- Mr. Sanjay Joshi – Member
The overall scheme oversight will rest with the Nomination and Remuneration Committee (NRC) of the Company. The Board meeting commenced at 12:15 p.m. and concluded at 5:30 p.m.
Source: BSE
