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) November 8, 2005
The India Fund, Inc.
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(Exact name of registrant as specified in its charter)
Maryland 811-08266 13-3749070
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(State or other jurisdiction of (Commission (IRS Employer
incorporation) File Number) Identification No.)
200 Park Avenue New York, NY 10166
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code 212-667-4939
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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 (see General Instruction A.2. below):
[ ] 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))
The India Fund, Inc.
CURRENT REPORT ON FORM 8-K
Item 7.01 Regulation FD Disclosure.
On November 8, 2005, The India Fund, Inc. (NYSE: IFN) (the "Fund")
announced that the Fund's Board of Directors has appointed Blackstone Asia
Advisors L.L.C. ("Blackstone Advisors") to serve as the Fund's interim
investment manager and Blackstone Fund Services India Private Limited
("Blackstone India") to serve as the Fund's interim country adviser upon the
expiration of the Fund's existing arrangements with Advantage Advisers, Inc. and
Imperial Investment Advisors Private Limited on December 4, 2005. Blackstone
Advisors and Blackstone India are newly-formed affiliates of The Blackstone
Group. The Board of Directors also approved a new investment management
agreement between the Fund and Blackstone Advisors and a new country advisory
agreement between Blackstone Advisors and Blackstone India which will be
submitted to stockholders for approval. The interim agreements will remain in
effect until the earlier of (i) stockholder approval of the new agreements and
(ii) May 3, 2006. Punita Kumar-Sinha, the Fund's portfolio manager for the last
eight years, will, supported by her investment team, continue to manage the
Fund's assets on a day-to-day basis as portfolio manager under new employment
arrangements with Blackstone Advisors.
The Fund also announced a significant reduction in investment management
fees to be paid under the interim management agreement with Blackstone Advisors,
as well as under the proposed management agreement, if approved by stockholders.
The new monthly management fee will be an annual rate of: (i) 1.10% of the
Fund's average weekly net assets for the first $500,000,000; (ii) 0.90% of the
Fund's average weekly net assets for the next $500,000,000; (iii) 0.85% of the
Fund's average weekly net assets for the next $500,000,000; and (iv) 0.75% of
the Fund's average weekly net assets in excess of $1,500,000,000. As a result,
fees will be lower on any assets in excess of $500,000,000. Based on assets as
of October 31, 2005, this would result in an annual management fee reduction of
approximately $448,000.
Exhibit 99.1 is a copy of the press release. The press release is being
furnished pursuant to Item 7.01 of this Current Report on Form 8-K, and the
information contained in Exhibit 99.1 shall not be deemed to be "filed" for
purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or
otherwise subject to the liabilities under Section 18. Furthermore, the
information contained in Exhibit 99.1 shall not be deemed to be incorporated by
reference into the filings of the Fund under the Securities Act of 1933, as
amended.
Item 9.01 Financial Statements and Exhibits.
(c) Exhibits.
Exhibit Number
99.1 The India Fund, Inc. press release, dated November 8, 2005.
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.
(Registrant)
Date: November 8, 2005 /s/ Deborah Kaback
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(Signature)
Name: Deborah Kaback
Title: Secretary
EXHIBIT INDEX
Exhibit Number
99.1 Press release of the Fund, dated November 8, 2005.