IFN India Fund Inc

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported) May 16, 2024 (May 15, 2024)

 

The India Fund, Inc.

(Exact name of registrant as specified in its charter)

 

Maryland		811-08266		13-3749070
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)
1900 Market Street, Suite 200 Philadelphia, PA				19103
(Address of principal executive offices)				(Zip Code)

 

Registrants telephone number, including area code (800)-522-5465

 

(Former name or former address, if changed since last report.)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock of Beneficial Interest	IFN	New York Stock Exchange

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

¨ Emerging growth company

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

 

 

 

Item 8.01.

Other Events

 

On May 15, 2024, the Fund issued a press release, included herewith as Exhibit 99.1, and by this reference incorporated herein, announcing the results of the Fund’s transferable rights offering to holders of the Fund’s common stock of beneficial interest (“Common Stock”), which entitled the holders of those Rights to subscribe for up to an aggregate amount of 10,352,100 shares of Common Stock. The Rights exercised in the offering will result in the issuance of 6,442,659 shares of Common Stock.

 

Item 9.01

Financial Statements and Exhibits.

 

(d)

Exhibits

 

99.1

The India Fund, Inc. Press Release, dated May 15, 2024.

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

	The India Fund, Inc.
Date: May 16, 2024	By:	/s/ Lucia Sitar
	Name:	Lucia Sitar
	Title:	Vice President and Chief Legal Officer

 

 

 

Exhibit 99.1

 

 

 

Press Release

 

FOR IMMEDIATE RELEASE

 

For More Information Contact:

abrdn Inc.

abrdn U.S. Closed-End Funds

Investor Relations

1-800-522-5465

Investor.Relations@abrdn.com

 

THE INDIA FUND, INC. ANNOUNCES 

FINAL RESULTS OF ITS RIGHTS OFFERING

 

(Philadelphia, May 15, 2024) – The India Fund, Inc. (NYSE: IFN) (the “Fund”), a closed-end fund, announced today the successful completion of its transferable rights (“Rights”) offering (the “Offer”). The Offer commenced on April 19, 2024, and expired on May 14, 2024 (the “Expiration Date”).

 

The Offer entitled Rights holders to subscribe for shares of the Fund’s common stock of beneficial interest, par value $0.001 per share (“Common Stock”). The final subscription price was $17.75 per share of Common Stock and was determined based upon 93% of the Fund’s net asset value (“NAV”) per share of Common Stock at the close of trading on the New York Stock Exchange (“NYSE”) on the Expiration Date, which was greater than the formula of 92.5% of the average of the last reported sales price of a share of Common Stock on the NYSE on the Expiration Date and each of the four (4) immediately preceding trading days. The Rights exercised in the Offer (including pursuant to over-subscription requests and notices of guaranteed delivery) will result in the issuance and sale of 6,237,159 shares of Common Stock, and gross proceeds of the Offer are expected to be approximately $110 million.

 

The shares of Common Stock subscribed for will be issued after completion of the allocation of the over-subscription shares of Common Stock and receipt of all shareholder payments. The shares of Common Stock are expected to be issued on or about May 21, 2024.

 

*              *              *

 

This press release shall not constitute an offer to sell or constitute a solicitation of an offer to buy. Investors should read the prospectus supplement and accompanying prospectus, when available, and consider the investment objective, risks, fees, and expenses of the Fund carefully before investing. This press release is not an offer to sell these securities and is not soliciting offers to buy these securities in any jurisdiction where the offer or sale is not permitted.

 

The Fund is managed and advised by abrdn Asia Limited. The Common Stock trades on the NYSE under the symbol “IFN”.

 

In the United States, abrdn is the marketing name for the following affiliated, registered investment advisers: abrdn Inc., abrdn Investments Limited, abrdn Asia Limited, abrdn Private Equity (Europe) Limited, and abrdn ETFs Advisors LLC.

 

Closed-end funds are traded on the secondary market through one of the stock exchanges. The Fund’s investment return and principal value will fluctuate so that an investor’s shares of Common Stock may be worth more or less than the original cost. Shares of closed-end funds may trade above (a premium) or below (a discount) the NAV of the fund’s portfolio. There is no assurance that the Fund will achieve its investment objective. Past performance does not guarantee future results.

 

If you wish to receive this information electronically, please contact Investor.Relations@abrdn.com

 

abrdnifn.com

 

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Cover	May 15, 2024
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	May 15, 2024
Entity File Number	811-08266
Entity Registrant Name	The India Fund, Inc.
Entity Central Index Key	0000917100
Entity Tax Identification Number	13-3749070
Entity Incorporation, State or Country Code	MD
Entity Address, Address Line One	1900 Market Street
Entity Address, Address Line Two	Suite 200
Entity Address, City or Town	Philadelphia
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	19103
City Area Code	800
Local Phone Number	522-5465
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Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock of Beneficial Interest
Trading Symbol	IFN
Security Exchange Name	NYSE
Entity Emerging Growth Company	false

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