if you own IFN read this...

[bishop]

IFN - the india fund...

http://biz.yahoo.com/bw/060616/20060616005232.html?.v=1

NEW YORK--(BUSINESS WIRE)--June 16, 2006--The India Fund, Inc. (NYSE: IFN; the "Fund") announced today the terms of its non-transferable rights offering to holders of its common stock (the "Offer"). The Fund will issue to stockholders of record on July 3, 2006 one right for each share of common stock held. The rights will entitle stockholders to subscribe for additional shares of the Fund's common stock at a subscription price equal to 95% of the Fund's net asset value per share on the expiration date of the Offer, which is August 4, 2006. Stockholders will be able to purchase one share of common stock for every three rights held. The rights are non-transferable and will not be admitted for trading on the New York Stock Exchange. ADVERTISEMENT Stockholders who exercise all rights issued to them will be entitled to subscribe for additional shares at the subscription price pursuant to an over-subscription privilege. If sufficient shares are not available to honor all requests for over-subscriptions, the Fund may, in its discretion, issue additional shares in an amount up to 25% of the shares that were available in the primary offering. Regardless whether the Fund issues additional shares, if sufficient shares are not available to honor all over-subscription requests, available shares will be allocated pro rata among stockholders who over-subscribe based on the number of rights originally issued to them by the Fund. If all subscription rights are exercised (including the additional 25%), the Fund will issue approximately 13,203,580 shares of its common stock in the Offer. The subscription period for the Offer will be from July 3, 2006 to August 4, 2006, unless extended by the Fund. The Fund expects that subscription forms, together with the prospectus, will be mailed to stockholders on July 3, 2006. Stockholders who hold their shares in bank or broker name will receive the Offer materials from their bank or broker.

it's currently trading at 46.19/share... book value per share, however is 34.07/share - and 95% of that is 32.3665/share.. so, they're offering you an option that's a 30% discount on the current spot price.. not too shabby..

i definitely planning on buying my full share of this offering.