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."
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.
To achieve the investment objective, the scheme will follow passive investment strategy with investments in stocks in the same proportion as in Nifty Smallcap 50 Index.
Sensex added nearly 600 points in early morning trade tracking a rebound in global equities.