A major shift in Sri Lanka’s maritime industry has emerged after India’s Mazagon Dock Ltd secured majority control of Colombo Dockyard PLC, strengthening its influence in one of the country’s most strategic shipbuilding and repair companies.
Mazagon Dock Ltd, already a key shareholder in Colombo Dockyard PLC, a prominent company listed on the Colombo Stock Exchange, has now successfully secured majority ownership in the Sri Lankan shipbuilding firm.
According to the latest disclosures released to the market, Mazagon Dock Limited has increased its stake to 51 percent of the total issued shares of Colombo Dockyard PLC, amounting to 201,565,500 shares.
The acquisition was completed through a Mandatory Offer that remained open to shareholders between February 18 and March 12, allowing the Indian state owned defense shipbuilder to expand its position within the company.
During the period of the offer, Mazagon Dock Limited acquired 36,649,271 additional shares, which represented approximately 9.27 percent of the company’s total shareholding.
Before initiating the offer process, Mazagon Dock Limited already held 164,916,229 shares in Colombo Dockyard PLC.
That holding represented roughly 41.73 percent of the company’s issued shares at the time, making the Indian firm one of the largest existing investors in the Sri Lankan maritime engineering company.
Following the completion of the acquisition process, Mazagon Dock Limited now holds a controlling majority stake in Colombo Dockyard PLC, positioning the Indian shipbuilding giant as the dominant shareholder and key strategic investor in the company.
