ICICI Prudential Buys Stake in Laxmi Dental

New Delhi, Sep 15 (PTI) ICICI Prudential Mutual Fund on Monday bought nearly a 3 per cent stake in Laxmi Dental for around Rs 49 crore through open market transactions.

After the stake buy, shares of Laxmi Dental rose 0.25 per cent to close at Rs 306.70 apiece on the NSE while the scrip of the company fell 0.93 per cent to settle at Rs 303.25 per piece on the BSE.

According to the bulk deal data on the BSE and NSE, ICICI Prudential Mutual Fund (MF) purchased 8.62 lakh equity shares on the NSE and it acquired 7.38 lakh shares, representing a combined 2.91 per cent stake in Laxmi Dental.

The combined transaction was valued around Rs 48.51 crore, and was executed at an average price of Rs 303 apiece, on the exchanges.

Meanwhile, Abu Dhabi Investment Authority (ADIA) offloaded a total of 11.16 lakh shares or 2.03 per cent stake in Laxmi Dental for Rs 33.82 crore.

After the stake sale, ADIA's holding in Laxmi Dental has come down to 1.15 per cent from 3.18 per cent.

The shares were disposed of in the price range of Rs 303-303.01 apiece on both BSE and the National Stock Exchange (NSE).

Details of other sellers of Laxmi Dental's shares could not be ascertained on the exchanges.