Net Asset Value Daily Estimate

India Capital Growth Fund Limited

01 December 2025

 

1 December 2025

India Capital Growth Fund Limited

("ICGF" or the "Company")

LEI: 213800TPOS9AM7INH846

Estimated Net Asset Value ("NAV") statement as at 1 December 2025

The Company announces its NAV per ordinary share as at 1 December 2025 was estimated to be 194.89 pence. The Company also announces its NAV per ordinary share before Indian CGT deferred tax provision as at 1 December 2025 was estimated to be 206.68 pence.

Notes on estimating the NAV per ordinary share following the redemption of ordinary shares under the Company's Redemption Facility as at 28 November 2025 and pending announcement of the Redemption Price per ordinary share under the Redemption Facility which is expected to be made on 8 December 2025.

The estimated NAV per ordinary share has been calculated based upon 67,408,124 ordinary shares in issue (excluding ordinary shares held in treasury) following the redemption of 16,967,020 ordinary shares (Redemption Shares) under the Company's Redemption Facility at 28 November 2025.

The estimated NAV per ordinary share includes the benefit of an estimate of the Exit Discount on the Redemption Pool that will be surplus to the costs of realising proceeds for the Redemption Pool. Such estimate equates to £900,000 or 1.33515 pence per ordinary share in issue as at 1 December 2025.

The estimated NAV per ordinary share does not include any adjustment which may result from the potential sale to incoming investors of Redemption Shares from the Redemption Pool in December 2025 which may or may not occur following determination of the Redemption Price.

This estimated daily NAV is provided by the Investment Manager of the Company and is, by its nature, based on incomplete and estimated data. The making of such an estimate involves known and unknown risks, uncertainties and other factors which may cause the estimated results, performance, or achievements to be different from any actual results, performance, or achievements.

ENQUIRIES

River Global, AIFM and Investment Manager Lucy Draper, Robin Sellers	[phone]
Neville Registrars Limited, Registrar and Receiving Agent	[phone]
Shore Capital, Financial Adviser and Broker Gillian Martin, Daphne Zhang (Corporate Advisory) Fiona Conroy (Corporate Broking)	[phone]
Apex Fund and Corporate Services (Guernsey) Limited (Company Secretary) Matt Lihou	[phone] [e-mail]

About India Capital Growth Fund

India Capital Growth Fund Limited, the London Stock Exchange's main market listed investment company registered and incorporated in Guernsey, was established to take advantage of long-term investment opportunities in companies based in India. ICGF predominantly invests in listed mid and small cap companies, although investments may also be made in large cap and private Indian companies where the Fund Manager believes long-term capital appreciation will be achieved. www.indiacapitalgrowth.com

 

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