Mazagon Dock acquires 41.73% stake in Colombo Dockyard for Rs. 6.6 b via Rights allotment

Wednesday, 21 January 2026 00:30 - - {{hitsCtrl.values.hits}}

India’s Mazagon Dock Shipbuilders Ltd., has acquired a 41.73% stake in Colombo Dockyard PLC following an allotment of shares arising from the unsubscribed Rights entitlement of Onomichi Dockyard Company Ltd.

Mazagon Dock said it acquired 164,916,229 fully paid ordinary shares of Colombo Dockyard on 19 January at a price of Rs. 40 per share.

The acquisition represents 41.73% of the issued share capital of Colombo Dockyard, which has total issued shares of 395,224,082. The total consideration for the transaction amounts to approximately Rs. 6.6 billion.

Mazagon Dock confirmed that it held no shares in Colombo Dockyard prior to the transaction and that its shareholding increased from zero to 164,916,229 shares following the allotment, resulting in a post-transaction stake of 41.73%.

The shares acquired by Mazagon Dock arose from the portion of Colombo Dockyard’s Rights Issue that remained unsubscribed by existing shareholder and parent Onomichi Dockyard Company Ltd.