Refex renewables infrastructure has announced the grant of Employee Stock Options (ESOPs) to eligible employees under its established stock option scheme. The company's Nomination & Remuneration Committee approved this employee benefit initiative during its meeting on February 11, 2026.

ESOP Grant Details

The committee approved the allocation of 10,942 ESOPs to 5 eligible employees of the company and its subsidiaries or associates. This grant forms part of the total ESOP pool of 4,48,990 equity shares under the RRIL ESOS 2022 scheme, which complies with the Securities and Exchange Board of India (Share Based Employee Benefits and Sweat Equity) Regulations, 2021.

Pricing Structure and Exercise Terms

The ESOPs feature a dual pricing structure based on performance criteria. The exercise prices were calculated using the closing price of ₹281.70 on February 10, 2026, the last trading day before the grant.

Vesting and Exercise Timeline

The granted options follow a structured vesting schedule designed to retain talent and align employee interests with company performance. The ESOPs will vest after a minimum period of one year from the grant date, following a 5-year vesting schedule.

Key timeline features include:

• Minimum Vesting Period: One year from grant date
• Exercise Window: 10 years from the date of relevant vesting
• Special Provisions: In cases of death or permanent incapacity, ESOPs vest immediately without the minimum one-year requirement

Regulatory Compliance

The ESOP grant operates under the RRIL ESOS 2022 scheme and adheres to SEBI regulations. The disclosure was made in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring transparency for stakeholders and regulatory authorities.

The company filed this disclosure with BSE Limited under security code 531260, providing comprehensive details as required by SEBI's Master Circular dated January 30, 2026. This ESOP grant represents the company's commitment to employee retention and performance-based compensation structures.

Refex Industries Limited has received official confirmation from the Income Tax Department that no press releases or official statements were issued in connection with search operations conducted at Refex Group entities in December 2025. The clarification comes through a Right to Information (RTI) response that directly contradicts media reports from the period.

RTI Response Confirms No Official Communications

The company filed an offline RTI application seeking confirmation about alleged press releases or official statements by the Income Tax Department regarding search and seizure operations conducted at Refex Group companies from December 09, 2025 to December 13, 2025.

The RTI response categorically confirmed that there were no press releases, official statements, press communications, or public communications issued by the Income Tax Department in connection with the search operations.

Background of Media Reports

The company's latest disclosure references earlier communications dated December 12, 2025, and December 14, 2025, regarding the search operations. Media reports during that period had referenced alleged press releases or statements by the Income Tax Department, which formed the basis of various news articles about the search operations.

The RTI application specifically sought to verify these claims and obtain official confirmation about the existence of any departmental communications.

Company's Compliance Stance

Refex Industries Limited has reiterated its commitment to legal compliance and cooperation with authorities. Key aspects of the company's position include:

• Maintaining law-abiding operations and full cooperation with authorities
• Adherence to highest standards of ethical conduct and legal compliance
• Commitment to keeping stock exchanges informed of material developments
• Compliance with SEBI Listing Regulations disclosure requirements

The company emphasized that it will continue to provide updates on any material developments in accordance with applicable SEBI Listing Regulations provisions.

Regulatory Disclosure Details

The disclosure was made under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The communication was addressed to both BSE Limited and National Stock Exchange of India Limited, signed by Company Secretary & Compliance Officer Ankit Poddar.

The RTI order copy has been enclosed with the disclosure as supporting documentation for the company's clarification to stakeholders and the stock exchange.