Conditional Tender Offer - Performance Update
Aberdeen New India Investment Trust
30 July 2026
The following amendment has been made to the Conditional Tender Offer - Performance Update announcement released on 30 July at 07.00 under RNS No 4342O.
In the column heading in the table, "Performance from 1 April 2022 to 31 July 2026" should read "Performance from 1 April 2022 to 30 June 2026".
All other details remain unchanged.
The full amended text is shown below.
Aberdeen New India Investment Trust PLC
Legal Entity Identifier (LEI): 549300D2AW66WYEVKF02
30 July 2026
Conditional Tender Offer - Performance Update to 30 June 2026
The Board of Aberdeen New India Investment Trust PLC (the "Company") announces an update on the Company's performance in relation to its performance-related conditional tender offer (the "Conditional Tender Offer"). The Board intends to provide monthly updates on the Company's unaudited relative performance until the end of the Assessment Period (as defined below).
Conditional Tender Offer
The five-year assessment period for the Conditional Tender Offer runs from 1 April 2022 to 31 March 2027 (the "Assessment Period"). Performance over the Assessment Period is measured against the MSCI India Index (sterling adjusted) (the "Benchmark").
For the purposes of this comparison, the Company's net asset value ("NAV") per share is adjusted to add back all Indian capital gains tax paid or accrued in respect of realised and unrealised gains made on investments since 1 April 2022 (the "Adjusted NAV"), to ensure a like-for-like comparison with the Benchmark.
If, over the Assessment Period, the Company's Adjusted NAV per share total return fails to equal or exceed the total return of the Benchmark, the Board will put forward proposals for a tender offer for 25% of the Company's then issued share capital, excluding treasury shares, at a price equal to 98% of the prevailing NAV per share, after deduction of implementation costs.
Performance update
As at 30 June 2026, the Company's unaudited NAV per share was 798.22 pence and its unaudited Adjusted NAV per share was 851.97 pence.
The Company's Adjusted NAV per share total return since the beginning of the Assessment Period to 30 June 2026 was 22.18%, compared with a total return of 19.96% from the Benchmark. The Company was therefore ahead of the Benchmark by 2.22% at that date.
|
Performance from 1 April 2022 to 30 June 2026 |
Total Return |
|
Adjusted NAV Total Return |
22.18% |
|
Benchmark total return |
19.96% |
|
Relative performance against the Benchmark |
2.22% |
Source: Aberdeen Investments & Morningstar
Investment proposition - Why invest in India?
Why India?
India combines one of the world's fastest-growing major economies with powerful long-term structural growth drivers including rising affluence, financial inclusion, digitalisation, urbanisation, healthcare demand and the energy transition.
Domestic consumption and investment underpin a resilient growth model that is less dependent on external economic conditions.
Supported by ongoing reforms and infrastructure investment, we believe India remains one of the most compelling long-term growth opportunities within global equity markets.
Why Aberdeen New India Investment Trust PLC?
We seek to invest in high-quality Indian companies with strong competitive positions, capable management teams and good long-term growth potential.
Supported by over 30 years of experience investing across Asia and extensive local research capabilities, we take a disciplined approach, focusing on individual company characteristics rather than simply following the market. We build a focused portfolio of our strongest ideas, rather than simply tracking an index. We also engage actively with the companies in which we invest, encouraging strong governance, responsible business practices and sustainable long-term value for shareholders.
Why now?
We believe India remains one of the most compelling long-term growth opportunities in global markets. Company profits are expected to continue growing, supported by favourable demographics, increasing consumption, ongoing investment and long-term economic reform.
Following a period of strong market performance, share prices are now more reasonably priced, providing an opportunity to invest in India's long-term growth potential at a more attractive entry point.
Combined with strong domestic demand and relatively low levels of overseas ownership, we believe the outlook for Indian equities remains positive.
Enquiries:
abrdn Holdings Limited
Secretaries
Email: cef.cosec@aberdeenplc.com
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