Company Announcements

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11 July 2019

Ashoka India Equity Investment Trust plc

Block Listing Application

The Board of Ashoka India Equity Investment Trust plc (the "Company") announces that application has been made to the Financial Conduct Authority and to the London Stock Exchange for a block listing of 6,230,000 ordinary shares of one penny each ("Ordinary Shares") in the Company to be admitted to the Official List and to trading on the London Stock Exchange's market for listed securities ("Admission").

The above 6,230,000 Ordinary Shares to be block listed may be issued pursuant to the Company's existing authorities to issue new Ordinary Shares on a non pre-emptive basis. These Ordinary Shares may be issued inter alia to satisfy market demand and for the purposes of managing the premium to net asset value (cum income) per Ordinary Share at which the Ordinary Shares are trading. When issued, these Ordinary Shares will rank pari passu with the existing Ordinary Shares in issue. It is expected that Admission will become effective on 12 July 2019.

The Company's LEI is: 213800KX5ZS1NGAR2J89

Enquiries:

Peel Hunt LLP

Luke Simpson, Liz Yong (Corporate Broking)

Mark Thompson (Sales)

Telephone: +44 (0) 207 418 8900

Disclaimer

This announcement does not constitute a prospectus relating to the Company and does not constitute, or form part of, any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any shares in the Company in any jurisdiction nor shall it, or any part of it, or the fact of its distribution, form the basis of, or be relied on in connection with or act as any inducement to enter into, any contract therefor.

Peel Hunt LLP ("Peel Hunt") which is authorised and regulated by the Financial Conduct Authority, is acting for the Company only in connection with the matters described in this announcement and is not acting for or advising any other person, or treating any other person as their client, in relation thereto and will not be responsible for providing the regulatory protection afforded to clients of Peel Hunt or advice to any other person in relation to the matters contained herein.

The shares of the Company have not been and will not be registered under the US Securities Act of 1933, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. Moreover, the shares of the Company have not been, nor will they be, registered under the applicable securities laws of Australia, Canada, the Republic of South Africa, Japan or any member state of the EEA (other than the United Kingdom). Further, the Company will not be registered under the US Investment Company Act of 1940, as amended. Subject to certain exceptions, the shares of the Company may not be offered or sold in the United States, Australia, Canada, the Republic of South Africa, Japan or any member state of the EEA (other than the United Kingdom or to professional investors in Ireland) or to, or for the account or benefit of, any national, resident or citizen of the United States, Australia, Canada, the Republic of South Africa, Japan or any member state of the EEA (other than the United Kingdom or to professional investors in Ireland). The share issuance programme, and the distribution of this announcement, in other jurisdictions may be restricted by law and the persons into whose possession this announcement comes should inform themselves about, and observe, any such restrictions.