Mazagon dock shipbuilders Limited has informed stock exchanges about the resignation of Independent Director Shri Chandu Sambasiva Rao, effective January 23, 2026. The government undertaking disclosed this development under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Director Resignation Details

Shri Chandu Sambasiva Rao (DIN-02296283) stepped down from his position as Independent Director due to personal and unavoidable circumstances. The director has confirmed that there are no material reasons for his resignation other than the personal circumstances mentioned.

Regulatory Compliance

The company has fulfilled its disclosure obligations by notifying both BSE Limited (Scrip Code: 543237) and National Stock Exchange of India Limited (NSE Symbol: MAZDOCK) about this board change. The notification was signed by Lalatendu Acharya, Company Secretary and Compliance Officer, on January 23, 2026.

Additional Information

As per the company's disclosure, additional information required under Clause 7B of Para A of Part A of Schedule III of the Listing Regulations will be submitted in due course. The resignation follows standard corporate governance procedures, with the company ensuring transparent communication to stakeholders and regulatory authorities.

Mazagon Dock Shipbuilders Limited, formerly Mazagon Dock Limited, operates as a government of India undertaking and maintains ISO 9001 certification. The company is headquartered at Dockyard Road, Mazagon, Mumbai.

Mazagon dock shipbuilders Limited has successfully completed a major strategic acquisition, securing a substantial stake in Sri Lankan shipbuilding company Colombo Dockyard PLC (CDPLC). The company informed stock exchanges on January 21, 2026, about the conclusion of this significant transaction that strengthens its international presence in the shipbuilding sector.

Acquisition Details

The acquisition involved the purchase of 16,49,16,229 fully paid ordinary shares in CDPLC, representing a commanding 41.73% stake in the Sri Lankan shipbuilder. The transaction was executed through the allotment of unsubscribed rights shares that were originally part of Onomichi Dockyard Co. Ltd.'s allocation.

Tripartite Agreement Framework

The acquisition is part of a comprehensive tripartite agreement entered into between Mazagon Dock Shipbuilders, CDPLC, and Onomichi Dockyard Co. Ltd. This strategic partnership framework has facilitated the current transaction and sets the foundation for further developments in the relationship between these shipbuilding entities.

The agreement demonstrates Mazagon Dock's commitment to expanding its international footprint and establishing strategic partnerships in key maritime markets across the region.

Mandatory Offer Process

Following the successful acquisition of the 41.73% stake, Mazagon Dock Shipbuilders is now proceeding with the next phase of the transaction. The company has initiated a mandatory offer process to acquire additional shares from existing CDPLC shareholders.

This mandatory offer is required under Sri Lankan securities regulations, specifically Rule 31(1)(a) of the Company Take-overs and Mergers Code 1995 (as amended in 2003), which governs corporate acquisitions and mergers in Sri Lanka.

Strategic Implications

The acquisition marks a significant milestone in Mazagon Dock Shipbuilders' expansion strategy, establishing a strong presence in the Sri Lankan shipbuilding market. Colombo Dockyard PLC is a prominent player in the regional maritime industry, and this partnership is expected to create synergies between the two companies' operations and capabilities.

The transaction builds upon Mazagon Dock's earlier disclosure dated June 27, 2025, indicating that this acquisition has been a carefully planned strategic initiative that has now reached a crucial implementation phase.

Regulatory Compliance and Future Updates

Mazagon Dock Shipbuilders has maintained full transparency throughout the acquisition process, keeping stock exchanges informed of all developments. The company has committed to providing regular updates on further developments related to the mandatory offer process and any additional aspects of the CDPLC acquisition.

The disclosure was made in compliance with Regulation 30(7) of SEBI (LODR) Regulations, 2015, demonstrating the company's adherence to regulatory requirements and commitment to maintaining transparency with stakeholders and investors.