JSW Infrastructure Limited has incorporated a wholly owned subsidiary, JSW Kolkata Outer Harbour Container Terminal Private Limited, to execute a port infrastructure project in Kolkata. The subsidiary was incorporated on July 10, 2026, following the receipt of a Letter of Award (LOA) from the Syama Prasad Mookerjee Port Authority, Kolkata. This strategic move enables the company to enter into a concession agreement for the Integrated Development of Outer Container Terminal & Berth no. 1 through 5 at Netaji Subhash Dock, Kolkata Dock System, on a Design Build Finance Operate Transfer basis through Public-Private Partnership (PPP) mode.

The incorporation was confirmed via an intimation from the Ministry of Corporate Affairs received on July 10, 2026. The subsidiary falls under the infrastructure sector, specifically the port-related industry. The establishment of this Special Purpose Vehicle is a requirement stipulated in the terms of the LOA to fulfil the obligations of the concession agreement.

JSW Infrastructure Limited holds 100% of the shareholding in the newly incorporated entity. The subscription to the memorandum of association was made via cash consideration. The cost of subscription for the initial capital is ₹1,00,000, divided into 10,000 equity shares of ₹10 each.

Key Details of the Subsidiary

The following table outlines the key particulars of the newly incorporated entity:

The project involves the development of container terminals and berths, which is expected to enhance the port's capacity and operational efficiency. The subsidiary will be responsible for implementing the project as per the terms of the concession agreement awarded by the Syama Prasad Mookerjee Port Authority.

JSW Infrastructure has established the procedure and documentation requirements for Tax Deduction at Source (TDS) on the dividend declared for the financial year ended March 31, 2026. The company's Board of Directors previously recommended a dividend of Re. 0.90 per equity share of Rs. 2 each, subject to shareholder approval at the upcoming Annual General Meeting. To ensure appropriate tax deduction, shareholders must submit necessary forms and declarations to the registrar, KFin Technologies Limited, by the stipulated deadline.

Key Dates and Deadlines

The dividend eligibility is determined by the record date of Thursday, June 18, 2026. Shareholders whose names appeared in the list of beneficial owners as of this date are entitled to the payout. The company has set a strict deadline for tax compliance documentation.

TDS Provisions for Resident Shareholders

The tax treatment for resident shareholders varies based on their dividend amount and PAN status. If the aggregate dividend paid during the tax year does not exceed Rs. 10,000, no TDS will be deducted. For resident individuals with a valid PAN, the standard TDS rate is 10%. However, shareholders can submit a duly signed Form 121 to claim exemption from TDS if eligibility conditions under Section 393(6) of the Income Tax Act, 2025 are met.

In cases where the PAN is unavailable or invalid, TDS will be deducted at the higher of the prescribed rates or 20%. Resident non-individual shareholders, such as insurance companies, mutual funds, and Alternative Investment Funds (AIF), must submit specific self-declarations and registration certificates to claim exemptions.

Guidelines for Non-Resident Shareholders

Non-resident shareholders are subject to a TDS rate of 20%, plus applicable surcharge and Health and Education Cess. These shareholders may opt for benefits under the Double Taxation Avoidance Treaty (DTAA) if more favorable. To avail DTAA rates, non-residents must furnish a self-attested PAN, Tax Residency Certificate (TRC), electronically filed Form 41, and a self-declaration certifying their tax residency and beneficial ownership.

The company clarified that it is not obligated to apply beneficial DTAA rates until the completeness and satisfactory review of submitted documents are completed. Furthermore, Foreign Institutional Investors (FIIs) and Foreign Portfolio Investors (FPIs) will be subject to the 20% TDS rate, which cannot be reduced by DTAA or lower tax deduction orders.

Payment Mode and Compliance

Effective from November 19, 2025, the company has discontinued the issuance of physical dividend warrants or cheques. Dividend payments will be made exclusively through electronic modes such as NEFT, RTGS, or other RBI-approved facilities. Shareholders must ensure their bank account details are updated and verified with their depository participants to facilitate timely credit.

Shareholders holding shares under multiple accounts with a single PAN should note that the highest applicable tax rate based on their status will be considered for their entire holding. The company will not accept any communication regarding tax determination after the July 18, 2026 deadline. If tax is deducted at a higher rate due to insufficient documentation, shareholders may file a return of income to claim a refund.