Closing of India Fund Inc. Rights Offer

The India Fund Rights Offer Closed today. The offering price of the shares (95% of NAV at close on Friday) is $34.00, which would mean at a current price of around 38 represents a gain of 11%, far lower than I expected but still very decent for no effort. The Fund said shareholders subscribed to about 18.5 million shares (including oversubscription requests). The Fund however did not say when it will assign oversubscribed shares. As I mentioned before, the rest of the shares are already deposited.

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