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The India Fund, Inc. Announces Final Results Of Semi-Annual Repurchase Offer

Stocks in this article: IFN









PHILADELPHIA, Sept. 23, 2013 /PRNewswire/ --  The India Fund, Inc.  (NYSE: IFN; the "Fund") announced today the final results of the Fund's semi-annual repurchase offer for shares of its common stock. The repurchase offer and withdrawal rights expired on Friday, September 13, 2013.  The Fund offered to repurchase up to 5% of the outstanding shares of its common stock for cash at a price approximately equal to net asset value as of September 20, 2013.

(Logo: http://photos.prnewswire.com/prnh/20121106/NE07292LOGO )

As of Friday, September 13, 2013, 37,610,570 Fund shares were outstanding.  Approximately 13,431,698.50 shares were validly tendered and not withdrawn prior to the expiration of the Fund's repurchase offer.  The repurchase amount of 5% of Fund shares represents approximately 1,880,529 shares outstanding.  The final pro-ration calculations resulted in 13,334,418.5 shares validly tendered.  Under final pro-ration, 14.10% of the shares tendered were accepted for payment.  The shares accepted for tender will receive cash at a repurchase offer price of $22.295, which is equal to the Fund's net asset value per share of $22.75 as of September 20, 2013, less a repurchase fee of $0.455 per share.  Cash payment for the repurchased shares will be issued on or before September 27, 2013.  All shares tendered and not repurchased by the Fund will be returned to stockholders as promptly as practicable.  After the repurchase offer, the Fund will have approximately 35,730,041 shares outstanding.

The Fund is a closed-end management investment company and its investment objective is long-term capital appreciation, which it seeks to achieve by investing primarily in equity securities of Indian companies. The Fund conducts semi-annual repurchase offers and is traded on the NYSE under the trading symbol "IFN." Aberdeen Asset Management Asia Limited serves as the Investment Manager to the Fund. The Investment Manager is an affiliate of Aberdeen Asset Management PLC.

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