Holding(s) in Company

RNS Number : 5380I

India Capital Growth Fund Limited

31 August 2016

INDIA CAPITAL GROWTH FUND LIMITED

(the "Company" or "ICGF")

(a closed-ended investment company incorporated with limited liability under the Laws of Guernsey with registered number 43916)

Holding(s) in Company

The Company was informed on 24 August 2016 that, Gramercy Funds Management acquired 7,259,655 ordinary shares of 1p each in the capital of the Company ("Ordinary Shares") on 8 August 2016 following the exercise of subscription shares on 6 August 2016.

As a result, Gramercy Funds Management has a total holding of 24,806,866 Ordinary Shares, representing 22 per cent of the issued share capital of the Company.

Enquiries

Ocean Dial Asset Management Limited (Investment Manager)

Robin Sellers / David Cornell

020 7068 9870

Grant Thornton UK LLP (Nominated Adviser)

Philip Secrett / Jen Clarke

020 7383 5100

Numis Securities Limited (Broker)

Nathan Brown / Hugh Jonathan, Corporate Broking and Advisory

Chris Gook / David Luck, Sales

020 7260 1000

Apex Fund Services (Guernsey) Limited (Administrator)