The boat had left Beypore harbour in Kozhikode district for fishing on December 30 and it capsized in mid-sea and was floating in a submerged condition since this morning, a coast guard release said.
Coast Guard assistance was sought and CG station Beypore coordinated the search plan and deployed ICG ship C-404 to search and locate the boat.
The fishing boat was traced and all the three fishermen were rescued, the release said, adding, the vessel was towed to Beypore port.