Saboo Sodium Chloro has announced that its wholly-owned subsidiary, Samskara Resorts Private Limited, has received a land conversion order from the Udaipur Development Authority, Rajasthan. This regulatory clearance covers a land parcel measuring approximately 23,310 square metres for use as a tourism unit, marking a significant step in the company's diversification into the hospitality sector.

Samskara Udaipur Luxury Resort: Key Project Details

The company proposes to develop the site as a luxury resort destination strategically located near Udaipur's Maharana Pratap Airport (UDR) and Taj Lalit Bagh, offering scenic views of the Aravallis. The following table summarizes the key details disclosed by the company:

Development Plans and Strategic Milestone

The land conversion order is a critical prerequisite enabling the company to proceed with construction and development plans. The proposed development is expected to include restaurants, large-format event and banqueting spaces, wellness and recreation facilities, landscaped areas, back-of-house facilities and other hospitality amenities. Saboo Sodium Chloro has appointed Maithel & Associates Architects as the project architect to support the development of a high-quality luxury resort product.

Following the receipt of the conversion order, the company will proceed with the next stage of planning and approvals, including layout and building plan approvals and other customary statutory clearances. Construction and development timelines will be determined after receipt of the required approvals and fulfilment of applicable conditions.

Saboo Sodium Chloro Ltd has secured in-principle approval from BSE Limited to launch a rights issue of partly paid-up equity shares worth ₹47.57 crore. The approval, granted on June 23, 2026, allows the company to use the exchange's name in its Letter of Offer and related advertisements, provided it includes the required disclaimer clauses. This move is aimed at raising capital to support the company's financial activities, though the specific use of proceeds was not disclosed in the filing.

The approval from BSE is subject to the company completing all necessary legal and statutory formalities before finalizing the offer documents. The exchange has clarified that the permission does not warrant or certify the correctness or completeness of the offer's contents, nor does it guarantee the listing of the securities. Investors are advised to conduct independent inquiries before subscribing to the issue.

Key Details of the Approval

The following table summarizes the key details of the regulatory approval received by the company:

Compliance and Next Steps

To proceed with the issue, Saboo Sodium Chloro Ltd must fix a record date with at least three working days' advance notice to the exchange. The company is also required to disclose the rights issue price at least three working days prior to this record date. Additionally, the company must ensure that it has entered into agreements with all depositories for the dematerialization of the securities and offer investors the option to receive allotments in dematerialized form.

The company must also comply with the provisions of Section 186 and 188 of the Companies Act, 2013, and Regulation 23 of the SEBI (LODR) Regulations, 2015, prior to filing the listing application. A secretarial auditor's certificate confirming Overseas Direct Investment (ODI) compliance must be procured before the filing. The basis of allotment will require approval from the designated stock exchange, even in the event of under-subscription.