Key Highlights
- Mazagon Dock Shipbuilders has completed acquisition of 41.73% stake in Colombo Dockyard PLC.
- The company acquired 16,49,16,229 fully paid ordinary shares.
- The stake was acquired through allotment of unsubscribed rights shares.
- The transaction follows an earlier disclosure made in June 2025.
- Mazagon Dock plans to acquire additional shares through a mandatory offer.
Mazagon Dock Shipbuilders Limited has completed the acquisition of a significant equity stake in Colombo Dockyard PLC, marking a key development in its overseas expansion strategy. The government-owned shipbuilder has acquired 16,49,16,229 fully paid ordinary shares, representing a 41.73% shareholding in the Sri Lanka-based shipyard.
The acquisition was completed through the allotment of unsubscribed rights shares originally associated with Onomichi Dockyard Co. Ltd., in line with earlier disclosures made by the company in June 2025. The transaction was executed under a tripartite agreement involving Mazagon Dock Shipbuilders, Colombo Dockyard PLC, and Onomichi Dockyard.
Following the completion of this acquisition, Mazagon Dock Shipbuilders has initiated steps to acquire additional shares from existing shareholders of Colombo Dockyard PLC. The proposed acquisition will be carried out through a mandatory offer in accordance with Sri Lanka’s takeover and mergers regulations.
The company stated that further updates related to the mandatory offer and subsequent developments will be communicated to the stock exchanges in due course. The acquisition is expected to enhance Mazagon Dock’s international footprint and strengthen its capabilities in shipbuilding, ship repair, and offshore engineering.
Mazagon Dock Shipbuilders Limited is a Government of India undertaking and a key player in India’s defence and commercial shipbuilding ecosystem, while Colombo Dockyard PLC is among the prominent shipbuilding and ship repair facilities in South Asia.