Sunday Mar 15, 2026
Sunday Mar 15, 2026
Saturday, 14 March 2026 00:00 - - {{hitsCtrl.values.hits}}
Colombo Dockyard PLC yesterday said Mazagon Dock Shipbuilders Ltd. has secured majority control of the company after the conclusion of a mandatory offer to shareholders.
The offer, which expired on 12 March 2026, resulted in acceptances for 36,649,271 ordinary shares of Colombo Dockyard, representing approximately 9.27% of the issued share capital.
Prior to the offer period, Mazagon Dock Shipbuilders Ltd. already held 164,916,229 ordinary shares in Colombo Dockyard, equivalent to about 41.73% of the company.
Following the completion of the mandatory offer and the shares accepted during the offer period, Mazagon Dock’s total holding has increased to 201,565,500 ordinary shares.
This represents approximately 51% of the issued shares of Colombo Dockyard PLC, giving the Indian state-owned shipbuilding company majority ownership of the Sri Lankan shipbuilding and ship repair firm.
The company also said that no additional shares were acquired or agreed to be acquired outside the acceptances received during the offer period.
Mazagon Dock Shipbuilders Ltd. launched the mandatory offer to the shareholders of Colombo Dockyard by an offer document dated 18 February 2026, in line with the requirements of the Company Take-overs and Mergers Code.
The share price of Colombo Dockyard closed down Rs. 2.25 yesterday to Rs. 127.75.
