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The India Fund (NYSE:IFN) announced the successful completion of its transferable rights offering, which commenced on April 19, 2024, and expired on May 14, 2024.
Rights holders subscribed for shares of the Fund's common stock at a final subscription price of $17.75 per share, determined as 93% of the Fund's net asset value per share at the close of trading on the NYSE on the expiration date.
The offering resulted in the issuance and sale of 6,237,159 shares, generating gross proceeds of approximately $110 million. Shares are expected to be issued on or about May 21, 2024.
