This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

The India Fund, Inc. Announces Commencement Date Of Semi-Annual Repurchase Offer

Stocks in this article: IFN

The India Fund, Inc. (NYSE: IFN; the “Fund”) announced today that the Fund’s semi-annual repurchase offer will commence today and terminate on March 11, 2011. In April 2003, stockholders of the Fund voted to adopt an interval fund structure, pursuant to which the Fund conducts semi-annual repurchase offers for between 5% and 25% of the Fund’s outstanding common stock. Accordingly, the Fund’s Board of Directors (the “Board”) authorized the Fund’s repurchase offer for the semi-annual period of up to 5% of its outstanding common stock, the details of which are as follows:

Purpose of the Repurchase Offer – The repurchase offer is intended to provide Fund stockholders who wish to have their shares repurchased based on net asset value (“NAV”) with the opportunity to have at least a portion of such shares repurchased.

What to Expect – The repurchase offer will begin on February 18, 2011 and end on March 11, 2011. Materials will be sent to stockholders of record as of February 11, 2011 in conjunction with the start of the offer on February 18, 2011.

Price – The repurchase price of the shares will be their NAV per share at the close of regular trading on the New York Stock Exchange (“NYSE”) on March 18, 2011. The shares tendered in the repurchase offer will be subject to a repurchase fee of 2% of NAV for expenses directly related to the repurchase offer.

Number of Shares – If more than 5% of the Fund’s outstanding common stock is tendered, the Fund will either (1) repurchase all of the additional shares tendered, if the additional shares do not exceed 2% of the Fund’s outstanding common stock, or (2) purchase 5% of the Fund’s outstanding common stock on a pro rata basis.

Deadline – The deadline for participating in the repurchase offer is 5:00 p.m. New York City time on March 11, 2011. The NAV of the shares may fluctuate between the deadline and March 18, 2011, the pricing date of the repurchase offer. The payment date for the repurchase offer is on or before March 25, 2011.

The Fund’s common stock has at times traded at a premium to the Fund’s NAV per share. It may not be in a stockholder’s interest to tender shares in connection with this repurchase offer if the Fund’s common stock is trading at a premium. The market price of the Fund’s common stock can and does fluctuate. Accordingly, on March 18, 2011, the pricing date of the repurchase offer, the market price of the Fund’s common stock may be above or below the Fund’s NAV per share.

To obtain the daily NAV or the NYSE closing price of the shares or for questions concerning the repurchase offer or for requests for the Fund’s repurchase offer materials, stockholders should contact Georgeson Inc. (“Georgeson”), the Fund’s Information Agent, toll free at 1-866-297-1264, or, for banks or brokers, at 1-212-440-9800.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,805.41 +127.51 0.76%
S&P 500 1,964.58 +13.76 0.71%
NASDAQ 4,483.7150 +30.9230 0.69%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs