PHILADELPHIA, April 4, 2014 /PRNewswire/ -- The India Fund, Inc. (NYSE: IFN; the "Fund") announced today the preliminary results of its cash tender offer for up to 5,240,267 shares of its common stock, representing approximately 15% of its outstanding shares. The offer expired at 11:59 p.m. New York City Time on Thursday, April 3, 2014.
Based on current information provided by Computershare, the depositary for the tender offer, approximately 15,901,956 shares of common stock, or 45.52% of the Fund's outstanding shares, were tendered through the expiration date. This total includes shares tendered pursuant to notices of guaranteed delivery. This number is subject to adjustment and should not be regarded as final. Since the number of shares tendered exceeded 15% of the Fund's outstanding shares, the Fund will accept shares tendered on a pro-rata basis. No more than a total of 5,240,267 properly tendered shares will be accepted for payment at a price per share equal to 98% of the Fund's net asset value per share ("NAV") as of the close of regular trading on the New York Stock Exchange ("NYSE") on April 4, 2014. It is expected that approximately 32.95% of the shares tendered will be accepted for payment. The final number of shares validly tendered and accepted pursuant to the tender offer will be announced at a later date.
This announcement is not an offer to purchase or a solicitation of an offer to purchase any securities of the Fund, nor shall there be any sale of the Fund's shares in any jurisdiction in which such offer or solicitation would violate that jurisdiction's laws.