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."
The shares of the company listed at 17.14% premium on NSE at Rs 164 and 16.43% premium on BSE at Rs 163 per share.
HDFC Life (+2.90%) is the top Nifty 50 gainer with 3% gain.
Nifty Bank, Financial Services, Oil & Gas, and Media indices are each trading with about 1% gains.
Sensex added nearly 600 points in early morning trade tracking a rebound in global equities.
Nifty metal pack is trading ~3% lower.
On the sectoral front, Nifty Metal rallied 2%.