Parchayi.com - Personal Finance SimplifiedNo Oversubscription For Me
The India Fund Inc. withdrew money from my account for IFN shares assigned to me from rights. I did not get any oversubscribed shares as yet so I’m assuming I won’t get any. Overall, the rights offer wasn’t such a great deal as the fund premium dropped significantly. I sold some IFN shares to pay for the new shares from rights and as the end result ended up getting a few shares free, not as many as I expected but it’s still free money 
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Yes, Oversubscription for me!
Closing of India Fund Inc. Rights Offer
Jeff Said,
August 17, 2006 @ 11:44 am
Thats great! I did about the same thing and came out a head a little bit. I ahd no idea how it would work out, but it worked out well. One thing that helped us is that from the subscription date the NAV continually rose. So, although the share price tumbled down to 3% above NAV, this was significantly higher than the 34.00 subscription price.
Sidd Said,
August 17, 2006 @ 1:54 pm
Actually that is the thing that did not help us at all!!! If the NAV rose, we paid more for the shares!! and sold them for less because the premium dropped.
Parchayi.com - Personal Finance Simplified » Yes, Oversubscription for me! Said,
August 18, 2006 @ 1:53 pm
[…] In a previous post, I mentioned that I did not get oversubscribed shares for IFN. However, that is officialy wrong. The shares got deposited today! Yipee. Some more free IFN for me. […]