Share Name Share Symbol Market Type Share ISIN Share Description
India Capital Growth Fund Limited LSE:IGC London Ordinary Share GB00B0P8RJ60 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  -4.00 -3.46% 111.50 256,546 16:29:45
Bid Price Offer Price High Price Low Price Open Price
110.50 112.50 114.50 111.50 114.50
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments -0.55 9.20 12.1 125
Last Trade Time Trade Type Trade Size Trade Price Currency
16:18:06 O 35,000 110.0001 GBX

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Date Time Title Posts
07/6/202109:47India Capital Growth Fund180
14/10/201413:13India Capital Growth Fund29

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India Capital Growth Daily Update: India Capital Growth Fund Limited is listed in the Equity Investment Instruments sector of the London Stock Exchange with ticker IGC. The last closing price for India Capital Growth was 115.50p.
India Capital Growth Fund Limited has a 4 week average price of 110p and a 12 week average price of 93.40p.
The 1 year high share price is 119.50p while the 1 year low share price is currently 56.60p.
There are currently 112,502,173 shares in issue and the average daily traded volume is 213,644 shares. The market capitalisation of India Capital Growth Fund Limited is £125,439,922.90.
aleman: Share price should try harder to keep up . NAV 120.3p.
aleman: Deaths have levelled out and new cases are falling rapidly in India, now. Shares mid-price is 96p. NAV is 111.19p. Redemption offer that looks set for September is at -6% of NAV or higher, or the equivalent of about 104.6p or higher on the current price.
hindsight: Added a few yesterday at 91, as discount is back out to historic levels But has hurt my average buying price
aleman: IGC investors seem to be selling the bad Indian Covid headlines but new cases and deaths look to have stopped rising in the last couple of days, unless it's a blip in the numbers. NAV has held up fairly well, at nearly 106p. The 15% discount to NAV looks to be getting way too big again if the redemption offer comes in about 5 months at no more than 6% under.
aleman: The redemption facility at 6% below NAV was voted through at the June General Meeting. The 10p jump in the share price at the end of May was when it was proposed and since then the discount to the tender/redemption (based theoretically on the prevailing rolling NAV) has been closing at very roughly 1% per month. We are currently about 9% below 6% below NAV and that discount looks set to disappear by year end if the fairly steady rising trend since its announcement continues. -- the introduction of a redemption facility, giving shareholders the right to request the redemption of part or all of their shareholding on 31 December 2021 and every second year thereafter at an exit discount equal to a maximum of a six per cent. discount to NAV per redemption share;
aleman: 9 months to go until the tender offer and yet a more than 10% buffer in the offer price and nearly 15% in the bid. Cases in India have been creeping up again for a few weeks but the case fatality rate continues to fall from what were already low by global standards, despite newer virus strains now being seemingly now being widespread. Https://
aleman: Actually, I should point out that was based on the offer price for new investors. The buffer for those that are already in and choose to stay as far as the tender offer works out around 16%. (92p/79.2p) It's baffling why anyone would sell with that sort of subsidy over 12 months. You'd expect the gap to close very quickly. In practice, the discount has been closing at about 1-1.5% per month.
tiltonboy: davvero, No, it means you can sell part of your holding at a 6% discount to the NAV at the prevailing time. That would be the quivalent of 84.6p if it were today. A healthy premium to the current share price.
davvero: @cgequityinvest thanks, very useful info about Stevenson info especially as I am not a Sharepad member... As a long holder I am amazed at IGC comeback YTD.... I'll stick with it at least until the Pandemic is over.... "buyback at a max 6% NAV discount in Dec 21?"... Does it mean you can buy more shares on that day and you get a max discount of 6% on the share price?...
cgequityinvest: Excellent article (13th Nov) by David Stevenson on Sharepad platform. He has selected IGC as one of his 35 dynamic funds. Long article but essentially he believes the small/mid cap market in india has good potential over the next few years and the potential buyback at a max 6% NAV discount in Dec 21 provides some protection.
India Capital Growth share price data is direct from the London Stock Exchange
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