Trust Deed of ESOP Trust submitted; irrevocable trust for Employees Stock Option Scheme, 2026

Company has shared the Trust Deed of 'Ion Exchange ESOP Trust', an irrevocable trust for administering and implementing the 'Employees Stock Option Scheme, 2026'.

Fri 9 Oct 2026

Trustee

Qapita EquityTech Ltd

Initial Corpus

Rs. 10,000/-

Deed Execution Date

Executed at Mumbai on 23 July 2026

ESOP Trust Deed shared with the exchanges

What was submitted

• The Trust Deed of the 'Ion Exchange ESOP Trust', an irrevocable trust set up by the company, enclosed with the company's letter dated October 9, 2026 addressed to BSE Limited and National Stock Exchange of India Limited.
• The trust is for the administration and implementation of the 'Ion Exchange (India) Limited – Employees Stock Option Scheme, 2026'.

Who is involved

• The settlor is Ion Exchange (India) Limited, acting through its Company Secretary & Compliance Officer, authorised by a board resolution dated 18th March 2026.
• The first trustee is Qapita EquityTech Limited (formerly known as KP Corporate Solutions Limited), which consented to act as trustee through its own board resolution dated 18th March 2026.

Key terms recorded in the deed

• The deed is made at Mumbai on 23rd July 2026, described in the deed as the Effective Date.
• The company handed over a sum of Rs. 10,000/- (Rupees Ten Thousand) to the trustee as the Initial Corpus of the trust.
• An 'Option' is defined as an employee stock option granted to a beneficiary, which gives the beneficiary the right, but not an obligation, to acquire the shares underlying the option at a pre-determined price at a future date.
• 'Beneficiary' means the employees and such other persons as explained in the deed, and the ESOP Committee constituted by the Board, comprising members of the Board as provided under Regulation 19 of the LODR Regulations, administers with the powers specified under the SBEB Regulations.
• The trust is stated to be set up for the benefit of employees, with a view to reward loyalty, incentivise them and drive enhancement of shareholder value.

Costs recorded for registering the deed

• Stamp duty of 1500.00 and registration fee of 1000.00 were paid, totalling 2,500.00.
• The registered document runs to 35 pages.

How a retail investor can read this

• An ESOP trust is the vehicle through which employee stock options are administered; this deed sets out the framework, the trustee's role, and the meaning of terms such as option and beneficiary.
• Employee stock options, when they vest and are exercised, can involve issue of shares or transfer of shares held through the trust, which over time can change the shareholding base. The number of options, the exercise price and the vesting schedule belong to the scheme itself.
• The update is a step in putting the employee stock option structure formally in place rather than an operating or earnings event for the business.

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