India Fund Limited Prospectus
Sydney, Aug 3, 2016 AEST (ABN Newswire) - India Fund Limited (
ASX:INF) announces a general public offer to raise $16 million to $50 million by an issue of Shares at $1.00 each together with 1 Option per share.
The India Fund Limited (INF or the fund) is a listed investment company (LIC) seeking to list on the ASX in August 2016. The company is seeking to raise a minimum of $16m and a maximum of $50m through the issue of shares at $1.00 per share. Investors will also receive a free attaching option for every share ($1.00 strike price with expiry 31 May 2018).
The proceeds will be invested in a diversified portfolio of Indian listed large to mid cap equities to generate both long-term capital growth and some income. The portfolio will be managed by Kotak Mahindra (UK) Limited (KMUK), an experienced, well-resourced and proven India specialist fund manager with a high conviction, index unaware investment approach.
The equity portfolio will typically consist of around 50 predominantly large cap securities, with the manager maintaining theflexibility to opportunistically take exposure in mid and small cap stocks. The strategy will be based on the ALPS Kotak India Growth Fund which has a 5-year track-record, commencing in February 2011.
The ALPS Kotak India Growth Fund however has its basis in two longer running funds, the Kotak India Growth Fund (large caps mandate) and the Kotak India Mid-Caps Fund, both of which have a 10-year track-record. The investment portfolio will be unhedged and no gearing will be employed.
This Prospectus contains an invitation to apply for Shares together with one Option for every one Share issued to each Applicant.
Each Option is exercisable at $1.00 until 5.00pm on the Expiry Date.
The Minimum Subscription is $16 million. However, the Company reserves the right to accept additional subscriptions for Shares to raise up to an aggregate $50 million. No Shares will be issued until the Minimum Subscription has been received.
No person is authorised to provide any information about the Company, or make any representation about the Company or the Offer that is not contained in this Prospectus. Potential investors should only rely on the information contained in this Prospectus.
Any information or representation not contained in the Prospectus may not be relied upon as having been authorised by the Company in connection with the Offer. Except as required by law and only to the extent required by such law, neither the Company nor any other person associated with the Company guarantees or warrants the future performance of the Company, the return on investment made under the Prospectus, the repayment of capital or the payment of dividends on the Shares.
Before deciding to invest in the Company, investors should read the entire Prospectus. The information contained in individual sections is not intended to and does not provide a comprehensive review of the business and the financial afairs of the Company or the Shares offered under the Prospectus. The Offer does not take into account the investment objectives, financial situation or particular needs of individual investors. An investment in the Company should be considered speculative. You should carefully consider the risks (including those set out in section 9) that impact on the Company in the context of your personal requirements (including your financial and taxation position) and, if required, seek professional guidance from your stockbroker, solicitor, accountant or other professional adviser prior to deciding to invest in the Company. No cooling-off regime (whether provided for by law or otherwise) applies in respect of the acquisition of Shares under this Prospectus.
To Download the Prospectus and Application, please visit:
http://abnnewswire.net/lnk/0RMP9267
To view the INF Research Report, please visit:
http://abnnewswire.net/lnk/GLXJ5U90
About India Fund Limited
India Fund Limited will allow Australian investors to invest in listed equities in one of the world's fastest growing economies (India) through a unique investment opportunity listed on the Australian Stock Exchange (ASX).
Key highlights:
- Invest in equities listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE)
- Equities Portfolio managed by Kotak Mahindra (UK) Limited, part of the Kotak Mahindra Group, India's 4th largest private sector bank
- Objective to provide investment returns above the S&P CNX 500 Benchmark
- Transparency and protection of an ASX Listed Investment Company (LIC)
Both the World Bank and the IMF confirm India as the world's fastest growing major economy.
Australians will finally have an efficient and cost effective means by which to invest in, and benefit from, the growth in India : India Fund Limited.
About Sequoia Financial Group Ltd
Sequoia Financial Group Limited (ASX:SEQ) is an integrated financial services company providing products and services to self-directed retail and wholesale clients and those of third party professional service firms.
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