No Oversubscription For Me

The India Fund Inc. withdrew money from my account for IFN shares assigned to me from rights. I did not get any oversubscribed shares as yet so I’m assuming I won’t get any. Overall, the rights offer wasn’t such a great deal as the fund premium dropped significantly. I sold some IFN shares to pay for the new shares from rights and as the end result ended up getting a few shares free, not as many as I expected but it’s still free money 🙂

3 thoughts on “No Oversubscription For Me

  1. Jeff says:

    Thats great! I did about the same thing and came out a head a little bit. I ahd no idea how it would work out, but it worked out well. One thing that helped us is that from the subscription date the NAV continually rose. So, although the share price tumbled down to 3% above NAV, this was significantly higher than the 34.00 subscription price.

  2. Sidd says:

    Actually that is the thing that did not help us at all!!! If the NAV rose, we paid more for the shares!! and sold them for less because the premium dropped.

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