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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
ICICI Bank on Wednesday said the bank intends to retain majority holding in ICICI Prudential Asset Management Company even though its joint venture partner plans listing and partial divestment of its stake in the fund house. ICICI Bank holds 51 per cent stake in ICICI Prudential Asset Management Company while remaining 49 per cent is with its joint venture partner UK-based Prudential PLC. "We take note of the announcement made today by our joint venture partner Prudential PLC with respect to a potential listing of and partial divestment of its stake in ICICI Prudential Asset Management Company, subject to market conditions, requisite approvals and other considerations," ICICI Bank said in a regulatory filing. The bank intends to retain its majority shareholding in ICICI Prudential Asset Management Company ensuring long-term commitment, it said. Prudential plc announced that it is evaluating a potential listing of ICICI Prudential Asset Management Company Ltd involving the partial .