State-owned defence shipbuilder Mazagon Dock Shipbuilders Limited has successfully concluded a significant overseas acquisition, strengthening its strategic footprint in South Asia’s maritime and shipbuilding ecosystem. The company has acquired 16,49,16,229 fully paid ordinary shares, representing 41.73% of the total equity share capital of Colombo Dockyard PLC.
This acquisition follows Mazagon Dock’s earlier disclosure dated June 27, 2025, and was executed through the allotment of unsubscribed rights shares belonging to Onomichi Dockyard Co. Ltd.. The transaction marks a major milestone for Mazagon Dock as it deepens its presence in international shipbuilding and repair markets.
As part of a Tripartite Agreement entered into with Colombo Dockyard PLC and Onomichi Dockyard, Mazagon Dock is now moving ahead with the next phase of the transaction. The company has initiated the process of acquiring additional shares from existing shareholders of Colombo Dockyard PLC through a mandatory offer, in line with Rule 31(1)(a) of Sri Lanka’s Company Take-overs and Mergers Code, 1995 (as amended in 2003).
