Ion Exchange (India) Limited has announced that CRISIL Ratings Limited has reaffirmed the credit ratings on its bank facilities, while simultaneously enhancing the total facility amount. The company informed the stock exchanges about this development on March 19, 2026, in compliance with SEBI listing regulations.

Rating Details and Enhancement

CRISIL has maintained its confidence in Ion Exchange's creditworthiness by reaffirming both the long-term and short-term ratings. The rating action comes alongside a substantial enhancement in the company's bank loan facilities.

Facility Enhancement Significance

The enhancement of bank loan facilities from Rs. 1849.41 crore to Rs. 2099.74 crore represents an increase of Rs. 250.33 crore in the company's available credit capacity. This expansion in credit facilities, coupled with the reaffirmation of existing ratings, indicates CRISIL's continued confidence in the company's financial strength and business prospects.

Regulatory Compliance

The company has disclosed this information in accordance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was made to both BSE Limited and National Stock Exchange of India Limited, ensuring transparency for all stakeholders. Ion Exchange trades on BSE under scrip code 500214 and on NSE under the symbol IONEXCHANG.

Credit Rating Implications

The CRISIL A+/Stable long-term rating indicates high credit quality with adequate degree of safety regarding timely servicing of financial obligations. The CRISIL A1 short-term rating reflects the highest degree of safety regarding timely payment of short-term debt obligations. The reaffirmation of these ratings suggests that CRISIL views the company's credit profile as stable and well-positioned to meet its financial commitments.

Ion Exchange (India) Limited's board of directors has approved the adoption of a comprehensive Employee Stock Option Scheme 2026 (ESOP 2026) during its meeting held on March 18, 2026. The decision, based on recommendations from the Nomination and Remuneration Committee, marks a significant step in the company's employee retention and incentive strategy.

ESOP 2026 Scheme Details

The newly approved scheme encompasses substantial employee benefits and operational framework:

The scheme complies with SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021, and will be implemented through an irrevocable employee welfare trust to be established by the company. All equity shares under the scheme will be acquired through secondary acquisition, ensuring no dilution of existing shareholding.

Committee Reconstitution

The board approved the reconstitution of the Employee Stock Option Committee with new leadership structure:

The reconstituted committee will oversee the scheme's administration through the Ion Exchange ESOP Trust, handling all responsibilities and powers delegated by the board under applicable law.

Pricing and Exercise Framework

The scheme incorporates flexible pricing mechanisms designed to benefit eligible employees. The exercise price per option will be determined by the committee, subject to a maximum discount of up to 15% on the market price of shares on the grant date. However, the exercise price cannot fall below the face value of the company's shares.

Employees will be liable to pay the company an amount equivalent to perquisite tax payable on exercise of options, in accordance with Income Tax Act, 1961 provisions and other applicable laws at the relevant time.

Vesting and Exercise Terms

The options feature a structured vesting schedule with specific timelines:

• Minimum Vesting Period: 1 year from grant date
• Maximum Vesting Period: 4 years from grant date
• Exercise Window: Maximum 4 years from each vesting date
• Grant Flexibility: Options can be granted in one or more tranches

The shares arising from exercise of vested options will not be subject to any lock-in period from the date of transfer under the scheme.

Regulatory Compliance and Next Steps

The ESOP 2026 adoption remains subject to shareholder approval and necessary regulatory/statutory approvals. The scheme aligns with provisions of the Companies Act, 2013, and SEBI regulations, ensuring comprehensive compliance with applicable legal frameworks.

The board meeting, which commenced at 12:15 p.m. and concluded at 5:30 p.m., addressed these significant corporate governance and employee benefit initiatives as part of the company's strategic employee retention and motivation framework.