Sale of Treasury Shares

7 February 2024

India Capital Growth Fund Limited
LEI: 213800TPOS9AM7INH846

Sale of Treasury Shares

India Capital Growth Fund Limited (the "Company") announces that it has sold 425,000 of its ordinary shares of one penny each ("Ordinary Shares") from treasury on 6 February 2024, at a price of 185.75 pence per Ordinary Share, a premium to the prevailing net asset value (cum income) per Ordinary Share, in order to meet market demand.

Following the transaction, the Company's issued share capital comprises:

84,435,656 Ordinary Shares (excluding treasury shares)

28,066,517 Ordinary Shares held in treasury

112,502,173 Ordinary Shares (including treasury shares)

The total number of shares with voting rights in the Company is 84,435,656 and this figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Disclosure Guidance and Transparency Rules.

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About India Capital Growth Fund

India Capital Growth Fund Limited the LSE premium 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