Mazagon Dock Shipbuilders has received approval for the acquisition of a controlling and substantial stake of Colombo Dockyard PLC (CDPLC), a company listed on Columbo Stock Exchange, Sri Lanka, by way of an investment not exceeding $52.96 million in the securities of CDPLC through a combination of primary subscription and secondary acquisitions from the shareholders of CDPLC (including Onomichi Dockyard Co. (Onomichi), a majority shareholder of CDPLC) (Proposed Acquisition). For this purpose, the company, CDPLC and Onomichi have executed definitive documents setting out the terms and conditions of the Proposed Acquisition.

The proposed acquisition will enable the company to strengthen its position in the ship repair and ship building industry, by unlocking operational synergies, enhancing research development capabilities, and expanding market reach. It supports the Company’s long-term growth vision in the ship building and ship repair industry. The Board of Directors of the company in its meeting held on June 27, 2025, has considered and approved the same.

Mazagon Dock Shipbuilders is the India's leading defence public sector undertaking shipyard under the Ministry of Defence.