Investment Company Act File No. 811-5571
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-2
REGISTRATION STATEMENT
UNDER THE SECURITIES ACT OF 1933
PRE-EFFECTIVE AMENDMENT NO. ___
POST-EFFECTIVE AMENDMENT NO. ___
AND/OR REGISTRATION STATEMENT
UNDER THE INVESTMENT COMPANY ACT OF 1940
AMENDMENT NO. 17
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THE INDIA GROWTH FUND INC.
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(Exact Name of Registrant as Specified in Charter)
c/o Mitchell Hutchins Asset Management Inc.
1285 Avenue of the Americas
New York, New York 10019
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(Address of Principal Executive Offices)
(212) 713-2848
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(Registrant's Telephone Number, Including Area Code)
Paul Schubert
The India Growth Fund Inc.
c/o Mitchell Hutchins Asset Management Inc.
1285 Avenue of the Americas
New York, New York 10019
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(Name and Address for Agent for Service)
With a copy to:
Laurence E. Cranch, Esq.
Rogers & Wells LLP
200 Park Avenue
New York, New York 10166
(212) 878-8000
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EXPLANATORY NOTE
This filing is made solely for the purpose of filing an Amendment to the
Registration Statement of The India Growth Fund Inc. (the "Fund") to reflect the
change in the Fund's sub-classification under the Investment Company Act of
1940, as amended (the "1940 Act") from a diversified investment company to a
non-diversified investment company. At the reconvened annual meeting of
stockholders of the Fund held on October 21, 1999, the stockholders of the Fund
approved the proposal to change the Fund's sub-classification under the 1940 Act
from a diversified investment company to a non-diversified investment company,
and the elimination of the Fund's corresponding investment restriction regarding
diversification contained in the Fund's Prospectus.
Accordingly, all references to the Fund in the Fund's Registration Statement as
a diversified investment company are deleted and hereby replaced with references
to the Fund as a non-diversified investment company. Furthermore, the following
language contained in the Fund's Registration Statement is hereby deleted:
1) On page 9 of the Prospectus Summary under the sub-heading
"Diversified Status":
"The Fund is classified as a "diversified investment company under the
1940 Act, which means that the Fund is limited by the 1940 Act in the
proportion of its assets that may be invested in the securities of a
single issuer. As a diversified investment company, the Fund may not
invest a greater proportion of its assets in the obligations of a
smaller number of issuers."
2) Under the sub-heading "Investment Limitations" on page 32:
"The Fund may not: ..... (4) Purchase any security (other than
obligations of the United States Government or any agency or
instrumentality thereof) if, as a result: (i) as to 75% of the Fund's
total assets, more than 5% of such assets (calculated at current market
value) would then be invested in securities of a single issuer, or (ii)
the Fund would then own more than 10% of the voting securities of any
single issuer."
In addition, the following subsection is hereby added to the "Risk Factors and
Special Considerations" section:
"Non-Diversified Investment Company
Although the Fund will remain subject to the diversification
standards imposed by the Internal Revenue Code of 1986, as amended, as
discussed on page 54 of this Prospectus, the change in the Fund's
classification to a non-diversified investment company permits the Fund
to concentrate its investments in fewer issuers. While greater
concentration may prove beneficial when the companies in which the Fund
invests outperform the market, greater concentration in fewer issuers
will also magnify negative performance by portfolio companies.
Furthermore, since the Fund is able to invest a relatively higher
percentage of its assets in the obligations of a limited number of
issuers, it may be more susceptible to any single economic, political,
or regulatory occurrence than it currently is as a diversified fund. In
general, the Fund's net asset value and related market price may become
more volatile."
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SIGNATURES
Pursuant to the requirements of the Investment Company Act of 1940, as
amended, the Registrant has duly caused this Amendment to the Registration
Statement to be signed on its behalf by the undersigned, thereunto duly
authorized, in the City of Mumbai and State of Maharashtra, India on the 31st
day of December, 1999.
THE INDIA GROWTH FUND INC.
By: /s/ P.S. Subramanyam
P.S. Subramanyam
President and Chairman of the Board