Mazagon Dock Shipbuilders Limited (MDL) has completed the acquisition of a 41.73 per cent equity stake in Colombo Dockyard PLC (CDPLC), marking a significant milestone in its overseas expansion strategy and strengthening its presence in the South Asian maritime sector.

In a regulatory filing, Mazagon Dock confirmed that it has acquired 1.649 billion fully paid ordinary shares of CDPLC through the allotment of unsubscribed rights shares originally held by Onomichi Dockyard Co. Ltd. The transaction represents a strategic entry into Sri Lanka’s shipbuilding industry and reflects MDL’s ambition to expand its global footprint.

As part of a tripartite agreement between Mazagon Dock, Colombo Dockyard and Onomichi Dockyard, MDL is now in the process of acquiring additional shares from existing shareholders. The company said it will make a mandatory offer in accordance with Rule 31(1)(a) of Sri Lanka’s Takeovers and Mergers Code, 1995, which could further enhance its control in CDPLC.

Mazagon Dock stated that subsequent developments related to the acquisition will be disclosed to stock exchanges in line with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Colombo Dockyard PLC is a major shipbuilding and repair facility in South Asia, and the acquisition aligns with Mazagon Dock’s long-term objectives of global expansion, technology collaboration and enhanced maritime capabilities. The move is also expected to strengthen India–Sri Lanka industrial cooperation, particularly in the strategic defence and shipbuilding domain.

The transaction highlights MDL’s strategy to leverage international partnerships and expand its role in global maritime infrastructure, positioning the company to participate in a wider range of commercial and defence shipbuilding opportunities.