Mazagon Dock Shipbuilders (MDL) has finalized the further acquisition of 3,66,49,271 shares in Colombo Dockyard PLC (CDPLC), concluding a Mandatory Offer in Sri Lanka. This transaction, finalized under a Tripartite Agreement, successfully increased MDL’s total shareholding in CDPLC to exactly 51% as of March 27, 2026. This move solidifies MDL’s majority control over the Sri Lankan entity, reflecting a strategic expansion in its international interests.
Update on Colombo Dockyard PLC Acquisition
Mazagon Dock Shipbuilders Limited (MDL), formerly Mazagon Dock Limited, has issued a significant update regarding its investment in Colombo Dockyard PLC (CDPLC). This announcement serves as a follow-up to the initial disclosure made on January 21, 2026.
Completion of Mandatory Offer
As part of the comprehensive Tripartite Agreement established with CDPLC and Onomichi Dockyard Co. Ltd., MDL has successfully concluded the acquisition of an additional 3,66,49,271 fully paid ordinary shares in CDPLC. This acquisition was executed via a Mandatory Offer, adhering to the stipulations of Rule 31(1)(a) of the Company Takeovers and Mergers Code 1995 (as amended in 2003) of Sri Lanka.
Total Shareholding Status
Following the completion of this share purchase, MDL’s cumulative shareholding in CDPLC now stands precisely at 51% as of the date of this communication, March 27, 2026. This achievement grants MDL majority control over the operations and governance of the Colombo Dockyard PLC.
Source: BSE
