Key Developments: India Fund Inc (IFN)
21.14USD
24 May 2013
$0.01 (+0.05%)
$21.13
$21.11
$21.21
$21.07
95,815
209,090
$22.22
$17.04
Latest Key Developments (Source: Significant Developments)
India Fund Inc Announces Payment Of Special Cash Election Distribution
India Fund Inc announced that it paid a distribution of $2.371234 per share on January 31, 2013 to all shareholders of record at the close of business on December 21, 2012. This distribution is comprised of $0.146634 per share of net investment income and $2.224600 per share of net realized long-terms capital gains. Full Article
India Fund Inc Announces Special Cash Election Distribution
India Fund Inc announced that Board of Directors has declared a capital gain and net investment income distribution in the amount of $2.371234 per share. The capital gain portion of the distribution is comprised of long-term capital gains of $2.220834 per share. The net investment income portion of the distribution is $0.150400 per share. The distribution will be payable on January 31, 2013 to stockholders of record on December 21, 2012. The distribution will be paid in shares of the Fund's common stock. Stockholders may, however, request that their distribution be paid in cash in lieu of common stock. The Fund will limit the aggregate amount of cash to be paid out in the distribution to all stockholders to 20% of the aggregate dollar amount of the total distribution. Full Article
India Fund Inc Announces Final Results Of Semi-Annual Repurchase Offer
India Fund Inc announced the final results of the Fund's semi-annual repurchase offer for shares of common stock. The repurchase offer and withdrawal rights expired on September 14, 2012. The Fund offered to repurchase up to 5% of the outstanding shares of common stock for cash at a price approximately equal to net asset value as of September 21, 2012. As of September 14, 2012, 38,799,849.94 Fund shares were outstanding. Approximately 10,884,951 shares were validly tendered and not withdrawn prior to the expiration of the Fund's repurchase offer.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 1,939,992 shares outstanding. The final pro-ration calculations resulted in 174,782 odd lot shares and 10,651,499 non-odd lot shares validly tendered. Under final pro-ration, 16.5724% of the non-odd lot shares tendered were accepted for payment. The shares accepted for tender will receive cash at a repurchase offer price of $25.3134, which is equal to the Fund's net asset value per share of $25.83 as of September 21, 2012, less a repurchase fee of $0.5166 per share. Cash payment for the repurchased shares will be issued on or before September 28, 2012. 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 36,859,857.94 shares outstanding. Full Article
India Fund Inc Announces Expiration Of Semi-Annual Repurchase Offer
India Fund Inc announced the expiration of the Fund's semi-annual repurchase offer for shares of its common stock. The repurchase offer and withdrawal rights expired on September 14, 2012. The Fund offered to repurchase up to 5% of the outstanding shares of common stock for cash at a price approximately equal to net asset value as of September 21, 2012. As of September 14, 2012, 38,799,849.94 Fund shares were outstanding. The repurchase amount of 5% of Fund shares represents approximately 1,939,992.5 shares outstanding. Shares will be repurchased for cash at a price equal to their net asset value as of the close of regular trading on the New York Stock Exchange (NYSE) on September 21, 2012. Full Article
India Fund Inc Announces Commencement Date Of Semi-Annual Repurchase Offer
India Fund Inc announced that the Fund's semi-annual repurchase offer will commence and terminate on September 14, 2012. In April 2003, stockholders of the Fund voted to adopt an interval fund structure, pursuant to which the Fund conducts periodic repurchase offers for between 5% and 25% of the Fund's outstanding common stock. Accordingly, the Fund's Board of Directors (the Board) authorized the Fund's repurchase offer for this semi-annual period of up to 5% of its outstanding common stock, the details of which are as follows: Purpose of the Repurchase Offer - The repurchase offer is intended to provide Fund stockholders who wish to have their shares repurchased based on net asset value (NAV) with the opportunity to have at least a portion of such shares repurchased. Full Article
India Fund, Inc. Announces Final Results of Semi-Annual Repurchase Offer
India Fund, Inc. (Fund") announced 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 March 16, 2012. 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 March 23, 2012. As of Friday, March 16, 2012, 40,841,946.94 Fund shares were outstanding. Approximately 8,841,730.02 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 2,042,097 shares outstanding. The final pro-ration calculations resulted in 85,097 odd lot shares and 8,756,633.02 non-odd lot shares validly tendered. Under final pro-ration, 22.3488% of the non-odd lot shares tendered were accepted for payment. The shares accepted for tender will receive cash at a repurchase offer price of $24.0884, which is equal to the Fund's net asset value per share of $24.58 as of March 23, 2012, less a repurchase fee of $0.4916 per share. Cash payment for the repurchased shares will be issued on or before March 30, 2012. 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 38,799,849.94 shares outstanding. Full Article
India Fund, Inc. Announces Expiration Of Semi-Annual Repurchase Offer
India Fund, Inc. announced the expiration of the Fund's semi-annual repurchase offer for shares of common stock. The repurchase offer and withdrawal rights expired on, September 16, 2011. The Fund offered to repurchase up to 5% of the outstanding shares of common stock for cash at a price approximately equal to net asset value as of September 23, 2011. As of September 16, 2011, 42,991,523.09 Fund shares were outstanding. The repurchase amount of 5% of Fund shares represents approximately 2,149,576.15 shares outstanding. The preliminary count by BNY Mellon Investment Servicing (U.S.) Inc., the Fund's transfer agent, indicated that approximately 6,988,825 shares (approximately 16.256% of the Fund's outstanding shares) were validly tendered and not withdrawn prior to the expiration of the Fund's repurchase offer. 347,351 shares are estimated to be subject to this guarantee. Since more than 5% of the Fund's outstanding shares were tendered, it is required that Fund shares tendered be accepted on a pro-rata basis. It is expected that approximately 30.940 % of the non-odd lot shares tendered will be accepted for payment. Shares will be repurchased for cash at a price equal to their net asset value as of the close of regular trading on the New York Stock Exchange (NYSE) on September 23, 2011. Full Article
India Fund, Inc. Announces Commencement Date Of Semi-Annual Repurchase Offer
India Fund, Inc. announced that the Fund’s semi-annual repurchase offer will commence on August 26, 2011 and terminate on September 16, 2011. In April 2003, stockholders of the Fund voted to adopt an interval fund structure, pursuant to which the Fund conducts semi-annual repurchase offers for between 5% and 25% of the Fund’s outstanding common stock. Accordingly, the Fund’s Board of Directors authorized the Fund’s repurchase offer for the semi-annual period of up to 5% of its outstanding common stock. The repurchase offer will begin on August 26, 2011 and end on September 16, 2011. Materials will be sent to stockholders of record as of August 19, 2011 in conjunction with the start of the offer on August 26, 2011. The repurchase price of the shares will be their NAV per share at the close of regular trading on the New York Stock Exchange on September 23, 2011. The shares tendered in the repurchase offer will be subject to a repurchase fee of 2% of NAV for expenses directly related to the repurchase offer. If more than 5% of the Fund’s outstanding common stock is tendered, the Fund will either repurchase all of the additional shares tendered, if the additional shares do not exceed 2% of the Fund’s outstanding common stock, or purchase 5% of the Fund’s outstanding common stock on a pro rata basis. Full Article
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