Mazagon Dock Acquires 41.73 Per Cent Stake in Colombo Dockyard

23 Jan 2026 CW Team

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.

Real Estate

28 Feb 2026

Casagrand Launches Keystone In Tiruppur

Casagrand has launched Casagrand Keystone, a gated residential development at Rakkiyapalayam, off Avinashi Road, in Tiruppur. Spread across 2.2 acres, the B+G+5 structure comprises 142 units of 2 and 3 BHK homes, supported by 48 indoor and outdoor amenities. The project is introduced at a starting price of Rs 5,199 per sq. ft. The development allocates 1.3 acres to open space, including a central park of about 24,500 sq. ft. A 6,800 sq. ft. clubhouse includes a multipurpose hall, mini theatre and indoor recreation facilities. Other amenities include a 5,100 sq. ft. swimming pool, poolside par..

Premium homes account for half of India’s housing sales in 2025

Knight Frank India, in its latest report on India’s office and residential property market, has highlighted a significant shift in housing demand, with homes priced above Rs 10 million accounting for 50 per cent of total residential sales across the top eight cities in 2025. The findings underscore the growing dominance of premium housing in the country’s real estate landscape.Out of 348,247 residential units sold during the year, approximately 175,091 units were in the Rs 10 million-plus category, marking a 14 per cent year-on-year increase. The data reflects changing buyer preferences, w..

Xbattery launches XB-5K energy storage system for homes, offices

Xbattery, a Hyderabad-based deep-tech company specialising in next-generation energy storage and battery management technologies, has introduced its flagship XB-5K, a scalable 5kWh energy storage system designed for homes and offices in India.The XB-5K is built on the company’s indigenously developed BharatBMS platform, described as India’s first universal high-voltage battery management system architecture aimed at reducing import dependence and improving after-sales service capabilities. The launch comes as India seeks to strengthen domestic manufacturing and address reliance on imported..