The India Fund, Inc. Announces Rights Offering to Enhance Investment Opportunities

The Board of Directors of The India Fund, Inc. (NYSE:IFN), a non-diversified, closed-end management investment company, has decided to issue transferable rights to common stockholders. This decision comes with a strategic aim to increase the Fund’s assets for investment, capitalizing on both current and future opportunities. With abrdn Asia Limited managing the Fund, this rights offering provides an advantageous scenario for existing stockholders to purchase additional shares at a market discount, subject to sales load.

A key highlight is the distribution of one right per common share held as of April 18, 2024. These rights permit the holder to acquire a new common share for every three rights held, facilitating an expansion in share ownership at a reduced price. Such a discounted price will be determined through a specified formula on the offering's expiration date of May 14, 2024, unless extended. Notably, this move underscores a commitment to long-term capital appreciation by investing primarily in Indian equity securities.

This offering is part of the Fund's established shelf registration with the SEC. Prospective participants can expect delivery of subscription certificates and detailed prospectus post-record date, highlighting the procedure for rights exercise or sale. This strategic initiative reaffirms The India Fund, Inc.'s dedication to providing enhanced value and growth opportunities to its investors amid fluctuating market conditions.