PHILADELPHIA, March 7, 2014 /PRNewswire/ -- The India Fund, Inc. (NYSE: IFN; the "Fund") announced today the commencement of a tender offer (the "Tender Offer") by the Fund to acquire in exchange for cash up to 15% of the Fund's issued and outstanding shares at a price per share equal to 98% of the Fund's net asset value ("NAV") per share as determined by the Fund on the next business day following the expiration date of the tender offer.
The Tender Offer is being made on the terms and subject to the conditions set forth in the Fund's Offer to Purchase, dated March 7, 2014, and related Letter of Transmittal, as such documents may be amended or supplemented prior to the expiration date for the Tender Offer. The Tender Offer will expire at 11:59 p.m. New York City time on April 3, 2014, unless amended or extended. If more than 15% of the Fund's outstanding shares are tendered in the offer and not withdrawn, the Fund will purchase shares from tendering stockholders on a pro rata basis in accordance with the terms and conditions specified in the Offer to Purchase.
As previously announced, the Tender Offer is being made in connection with the recent stockholder approval of the elimination of the Fund's interval structure.