Fitch Ratings pointed out that nearly 50% of APSEZ's cargo is considered sticky.
According to a BSE filing, the parties to the proposed transaction, for which a legally binding memorandum of understanding had previously been signed, had "executed a Share Purchase Agreement and finalized the transaction."
Acquisition done for Rs 18.45 crore.
Vedanta is the parent company of Hindustan Zinc.
Floor price for the offer-for-sale set at Rs 2,450 per share.
In the last privatisation round, the company had won bids to operate 6 airports of Guwahati, Ahmedabad, Jaipur, Lucknow, Thiruvananthapuram and Mangaluru.
GQG Partners recently bought stakes in Adani Group companies.
Reliance Industries and its partner BP Exploration (Alpha) Ltd (BPEAL) are set to conduct an e-auction on April 3.
Group is using its financial resources to pay off its debt obligations, in order to restore confidence.
In conversation with Sheetal Agarwal of IIFL, the Founder of the company outlines his growth strategy, macro opportunities and fund-raising plans.