Mazagon Dock gains majority stake in Colombo Dockyard after mandatory offer

Mazagon Dock Shipbuilders Limited has crossed the 50 percent ownership threshold in Colombo Dockyard PLC following the expiration of its mandatory offer on 12 March 2026, the company announced. Under the offer made on February 18, Mazagon Dock received acceptances for 36.65 million shares, representing approximately 9.27 percent of Colombo Dockyard’s ordinary voting shares. Combined with its pre-offer holdings of 164.92 million shares (41.73 percent), the acquisition pushes Mazagon Dock’s total stake to just over 51 percent, giving it majority control of the Sri Lankan shipbuilding company. 

No additional shares were acquired or agreed to be acquired during the offer period.