🚢 Mazagon Dock Secures 51% Majority Stake in Colombo Dockyard

Indian state-owned giant Mazagon Dock Shipbuilders Ltd. has officially gained majority control of Colombo Dockyard PLC, marking a significant shift in Sri Lanka's shipbuilding and ship repair landscape. • The Transaction: Mazagon Dock acquired an additional 36.65 million shares (approx. 9.27%) through a mandatory offer that concluded on 12 March 2026. • Final Ownership: Combined with its previous 41.73% holding, Mazagon Dock now controls 201.57 million shares, representing 51% of the total issued share capital. • Economic Context: This acquisition integrates a key player in Sri Lanka's maritime and engineering sector with a major Indian defense shipbuilder, potentially boosting regional maritime synergy and technical expertise. • Market Reaction: Following the announcement, Colombo Dockyard’s share price closed at Rs. 127.75, down Rs. 2.25 for the day.