Mazagon Dock to acquire 51% stake in Colombo Dockyard PLC

New Dehi, June 27 2025: Mazagon Dock Shipbuilders Limited in its meeting has approved the acquisition of a controlling and substantial stake of Colombo Dockyard PLC (a company listed on Columbo Stock Exchange, Sri Lanka) by way of an investment not exceeding USD 52.96 million (i.e., approximately Rs 452 crore considering prevailing exchange rate) in the securities of CDPLC through a combination of primary subscription and secondary acquisitions from the shareholders of CDPLC (including Onomichi Dockyard Co. Ltd. (“Onomichi”), a majority shareholder of CDPLC) (“Proposed Acquisition”).

The acquisition is subject to regulatory approval from both exchanges.

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Mazagon Dock Ltd will acquire 51% of equity shares of CDPLC, making it a subsidiary of the Company.

In order to accomplish this purpose, the Company, CDPLC and Onomichi have executed definitive documents setting out the terms and conditions of the Proposed Acquisition which is expected to be completed within 4 to 6 months.

The Proposed Acquisition will be undertaken for an aggregate amount not exceeding USD 52.96 million (i.e., approximately Rs 452 crore considering prevailing exchange rate).

According to the exchange filing, the Proposed Acquisition will enable the Company to strengthen its position in the ship repair and ship building industry, by unlocking operational synergies, enhancing research development capabilities, and expanding market reach.

It supports the Company’s long-term growth vision in the ship building and ship repair industry.

CDPLC is a Public Limited company incorporated under the laws of Sri Lanka and is listed under Colombo Stock Exchange. It is primarily engaged in the business of ship building and ship repair.

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