India Capital Growth Fund Limited (IGC), the Guernsey-registered, LSE premium-listed investment company focused on Indian equities, has announced the purchase of 10,000 ordinary shares into treasury on 12 November 2026. The shares were acquired at a volume-weighted average price of 181.00p each, with both the lowest and highest price paid also recorded at 181.00p. Following the transaction, the total number of ordinary shares carrying voting rights now stands at 63,875,124, a figure shareholders must use as the denominator when calculating disclosure obligations under FCA Transparency Rules.

Key Points

  • India Capital Growth Fund Limited (IGC) — LSE premium-listed, Guernsey-incorporated investment company
  • The company purchased 10,000 ordinary shares of 1p each into treasury on 12 November 2026 at 181.00p per share
  • Issued share capital now comprises 63,875,124 shares excluding treasury, with 48,627,049 shares held in treasury across a total of 112,502,173 shares including treasury
  • Investors should monitor further treasury purchases and any change to the voting rights denominator in subsequent announcements

IGC Acquires 10,000 Shares at 181.00p in Single-Price Treasury Transaction

The board of India Capital Growth Fund confirmed that on 12 November 2026, the company purchased 10,000 ordinary shares of 1p each for treasury at a volume-weighted average price of 181.00p. Notably, both the lowest and highest price paid per share were identical at 181.00p, indicating the entire block was transacted at a single price. Treasury buybacks of this nature are typically used by investment companies to manage discount to net asset value, though the company did not disclose its specific rationale or the discount level in this announcement.

IGC's Voting Rights Denominator Falls to 63,875,124 After Latest Buyback

Following the 12 November purchase, India Capital Growth Fund's issued share capital now consists of 63,875,124 ordinary shares excluding treasury shares, alongside 48,627,049 shares held in treasury, bringing the total including treasury shares to 112,502,173. The announcement confirms that 63,875,124 is the figure shareholders must use as the denominator when determining whether they are required to notify an interest or a change in interest under the FCA's Disclosure Guidance and Transparency Rules. As treasury shares carry no voting rights, the buyback has reduced the effective voting share pool.

Liontrust-Managed Fund Targets Long-Term Capital Growth in Indian Mid and Small Caps

India Capital Growth Fund is managed by Liontrust as its alternative investment fund manager, with Shore Capital serving as financial adviser and broker. The fund was established to capture long-term investment opportunities in India, with a predominant focus on listed mid and small cap companies, though the mandate also permits investment in large cap and private Indian businesses where long-term capital appreciation is anticipated. The company is registered and incorporated in Guernsey and carries a premium listing on the London Stock Exchange, making it accessible to UK-based investors seeking Indian market exposure.