<SUBMISSION>
<ACCESSION-NUMBER>0001206774-09-000022
<TYPE>SC TO-I/A
<PUBLIC-DOCUMENT-COUNT>2
<FILING-DATE>20090112
<DATE-OF-FILING-DATE-CHANGE>20090112
<SUBJECT-COMPANY>
<COMPANY-DATA>
<CONFORMED-NAME>India Globalization Capital, Inc.
<CIK>0001326205
<ASSIGNED-SIC>1600
<IRS-NUMBER>202760393
<STATE-OF-INCORPORATION>MD
<FISCAL-YEAR-END>0331
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>SC TO-I/A
<ACT>34
<FILE-NUMBER>005-81669
<FILM-NUMBER>09520815
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>4336 MONTGOMERY AVENUE
<CITY>BETHESDA
<STATE>MD
<ZIP>20814
<PHONE>301-983-0998
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>4336 MONTGOMERY AVENUE
<CITY>BETHESDA
<STATE>MD
<ZIP>20814
</MAIL-ADDRESS>
</SUBJECT-COMPANY>
<FILED-BY>
<COMPANY-DATA>
<CONFORMED-NAME>India Globalization Capital, Inc.
<CIK>0001326205
<ASSIGNED-SIC>1600
<IRS-NUMBER>202760393
<STATE-OF-INCORPORATION>MD
<FISCAL-YEAR-END>0331
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>SC TO-I/A
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>4336 MONTGOMERY AVENUE
<CITY>BETHESDA
<STATE>MD
<ZIP>20814
<PHONE>301-983-0998
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>4336 MONTGOMERY AVENUE
<CITY>BETHESDA
<STATE>MD
<ZIP>20814
</MAIL-ADDRESS>
</FILED-BY>
<DOCUMENT>
<TYPE>SC TO-I/A
<SEQUENCE>1
<FILENAME>indiaglobal_sctoia.htm
<DESCRIPTION>AMENDMENTS - TENDER OFFER STATEMENT BY ISSUER
<TEXT>

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<P align=center><B><FONT face=serif size=4>UNITED STATES<BR></FONT></B><B><FONT face=serif size=4>SECURITIES AND EXCHANGE COMMISSION<BR></FONT></B><B><FONT face=serif size=2>WASHINGTON, D.C. 20549 <BR></FONT></B><B><FONT face=serif>SCHEDULE TO/A<BR></FONT></B><B><FONT face=serif size=2>TENDER OFFER
STATEMENT UNDER SECTION 14(d)(1) OR 13(e)(1)<BR>OF THE SECURITIES EXCHANGE ACT
OF 1934 <BR></FONT></B><FONT face=serif size=2>(Amendment No.&nbsp;4
)</FONT></P>
<P align=center><B><FONT face=serif size=5>INDIA GLOBALIZATION CAPITAL,
INC.<BR></FONT></B><FONT face=serif size=1>(Name of Subject Company (Issuer) and
Filing Person (Offeror))<BR></FONT><B><FONT face=serif size=2>WARRANTS TO
PURCHASE COMMON STOCK<BR></FONT></B><FONT face=serif size=1>(Title of Class of
Securities)<BR></FONT><B><FONT face=serif size=2>45408X100 <BR></FONT></B><FONT face=serif size=1>(CUSIP Number of Common Stock Underlying
Warrants)<BR></FONT><B><FONT face=serif size=2>Ram Mukunda<BR>India
Globalization Capital, Inc.<BR></FONT></B><B><FONT face=serif size=2>4336
Montgomery Ave</FONT></B><B><FONT face=serif size=2><BR></FONT></B><B><FONT face=serif size=2>Bethesda, Maryland 20814</FONT></B><B><FONT face=serif size=2><BR></FONT></B><B><FONT face=serif size=2>(301)
983-0998</FONT></B><B><FONT face=serif size=2> <BR></FONT></B><FONT face=serif size=1>(Name, Address and Telephone Number of Person Authorized<BR>to Receive
Notices and Communications on Behalf of Filing Person)<BR></FONT><B><FONT face=serif size=2>WITH COPY TO: <BR></FONT></B><FONT face=serif size=2>Michael
E. Blount, Esq.<BR>Stanley S. Jutkowitz, Esq.</FONT><FONT face=serif size=2>&nbsp;<BR></FONT><FONT face=serif size=2>Seyfarth Shaw
LLP<BR></FONT><FONT face=serif size=2>131 S. Dearborn Street, Suite
2400<BR></FONT><FONT face=serif size=2>Chicago, Illinois 60603-5803<BR>(312)
460-5000</FONT></P>
<P align=center><B><FONT face=serif size=2>CALCULATION OF FILING FEE:
</FONT></B></P>
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    <TD noWrap align=center width="49%"><FONT face=serif size=2>Transaction
      Valuation<SUP>(1)</SUP></FONT>&nbsp; </TD>
    <TD noWrap align=center width="50%"><FONT face=serif size=2>Amount of
      filing fee<SUP>(1)</SUP></FONT><FONT face=serif size=2><SUP>(2)(3)</SUP></FONT>&nbsp; </TD></TR>
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    <TD noWrap align=center width="49%"><FONT face=serif size=2>$2,498,895</FONT>&nbsp; </TD>
    <TD noWrap align=center width="50%"><FONT face=serif size=2>$98.21</FONT>&nbsp; </TD></TR></TABLE>
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    <TD vAlign=top noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD vAlign=top width="100%"><FONT face=serif size=1>Estimated for purposes
      of calculating the amount of the filing fee only. India Globalization
      Capital, Inc. (the &#147;Company&#148;) is offering holders of 23,799,000 of the
      Company&#146;s warrants (the &#147;Warrants&#148;), which consist of: (i) 22,609,000
      Warrants issued on March 8, 2006 in the Company&#146;s initial public offering
      (the &#147;</FONT><U><FONT face=serif size=1>IPO</FONT></U><FONT face=serif size=1>&#148;), (ii) 340,000 Warrants initially issued to Ram Mukunda, Ranga
      Krishna and John Cherin in a private placement of 170,000 units consisting
      of 170,000 shares of Common Stock and the 340,000 Warrants immediately
      prior to the Company&#146;s IPO, and (iii) 850,000 Warrants issued to Oliveira
      Capital, LLC in a private placement pursuant to a certain Note and Warrant
      Purchase Agreement dated February 5, 2007, to (i) permit temporarily,
      instead of paying the exercise price of such Warrants of $5.00 the
      exchange of 5 warrants and $0.55 for one share of common stock and (ii)
      permit the exercise of the Warrants by tendering in lieu of cash twelve
      (12) Warrants for one (1) share of Common Stock. The transaction value is
      calculated pursuant to Rule 0-11(b)(2) and 0-11(a)(4) using the average of
      the high and low sales price of the publicly traded Warrants on November
      21, 2008.</FONT></TD></TR></TABLE><BR>
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<PAGE><BR>
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    <TD vAlign=top noWrap align=left width="1%"><FONT size=1>(2)</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    </TD>
    <TD vAlign=top noWrap align=left width="97%"><FONT face=serif size=1>Calculated at $39.30 per $1,000,000 of the Transaction
      Valuation</FONT><FONT face=serif size=2>.</FONT></TD></TR>
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    <TD vAlign=top noWrap align=left width="97%">&nbsp;</TD></TR>
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    <TD vAlign=top noWrap align=left width="1%"><FONT size=1>(3)</FONT></TD>
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    <TD vAlign=top noWrap align=left width="97%"><FONT face=serif size=1>Previously paid..</FONT></TD></TR>
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    <TD vAlign=top noWrap align=left width="97%">&nbsp;</TD></TR>
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    <TD vAlign=top noWrap align=left width="1%"><FONT face=Wingdings size=2>&#168;</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%">&nbsp; </TD>
    <TD vAlign=top align=left width="97%"><FONT face=serif size=2>Check the
      box if any part of the fee is offset as provided by Rule 011 Rule
      011(a)(2) and identify the filing with which the offsetting fee was
      previously paid. Identify the previous filing by registration statement
      number or the Form or Schedule and the date of its filing.</FONT></TD></TR>
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    <TD vAlign=top noWrap align=left width="1%">&nbsp; </TD>
    <TD vAlign=top noWrap align=left width="97%"><FONT face=serif size=2>&nbsp;</FONT></TD></TR>
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    <TD vAlign=top noWrap align=left width="1%">&nbsp; </TD>
    <TD vAlign=top noWrap align=left width="97%"><FONT face=serif size=2>Amount Previously Paid: N/A<BR>Form or Registration Number:
      N/A<BR>Filing Party: N/A<BR>Date Filed: N/A</FONT></TD></TR>
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    <TD vAlign=top noWrap align=left width="97%"><FONT face=serif size=2></FONT></TD></TR>
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    <TD vAlign=top noWrap align=left width="1%"><FONT face=Wingdings size=2>&#168;</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%">&nbsp; </TD>
    <TD vAlign=top noWrap align=left width="97%"><FONT face=serif size=2>Check
      the box if the filing relates solely to preliminary communications made
      before the commencement of a tender offer.</FONT></TD></TR>
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    <TD vAlign=top noWrap align=left width="97%">&nbsp;</TD></TR>
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    <TD vAlign=top noWrap align=left width="1%">&nbsp; </TD>
    <TD vAlign=top noWrap align=left width="97%"><FONT face=serif size=2>Check
      the appropriate boxes below to designate any transactions to which the
      statement relates:</FONT></TD></TR>
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    <TD vAlign=top noWrap align=left width="97%">&nbsp;</TD></TR>
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    <TD vAlign=top noWrap align=left width="1%"><FONT face=Wingdings size=2>&#168;</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%">&nbsp; </TD>
    <TD vAlign=top noWrap align=left width="97%"><FONT face=serif size=2>third
      party tender offer subject to Rule 14d-1.</FONT></TD></TR>
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    <TD vAlign=top noWrap align=left width="1%"><FONT face=Wingdings size=2>x</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%">&nbsp; </TD>
    <TD vAlign=top noWrap align=left width="97%"><FONT face=serif size=2>issuer tender offer subject to Rule 13e-4.</FONT></TD></TR>
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    <TD vAlign=top noWrap align=left width="1%"><FONT face=Wingdings size=2>&#168;</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%">&nbsp; </TD>
    <TD vAlign=top noWrap align=left width="97%"><FONT face=serif size=2>going
      private transaction subject to Rule 13e-3.</FONT></TD></TR>
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    <TD vAlign=top noWrap align=left width="97%">&nbsp;</TD></TR>
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    <TD vAlign=top noWrap align=left width="1%"><FONT face=Wingdings size=2>&#168;</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%">&nbsp; </TD>
    <TD vAlign=top noWrap align=left width="97%"><FONT face=serif size=2>amendment to Schedule 13D under Rule 13d-2.</FONT></TD></TR>
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    <TD vAlign=top noWrap align=left width="1%">&nbsp; </TD>
    <TD vAlign=top noWrap align=left width="97%"><FONT face=serif size=2>Check
      the following box if the filing is a final amendment reporting the results
      of a tender offer: <FONT face=Wingdings>&#168;</FONT></FONT></TD></TR></TABLE>
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<P align=center><STRONG><FONT size=2></FONT></STRONG>&nbsp;</P>
<P align=center><STRONG><FONT size=2></FONT></STRONG>&nbsp;</P>
<P align=center><FONT face=serif><FONT size=2>2</FONT> </FONT></P>
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<P align=center><B><FONT face=serif size=2>INTRODUCTION</FONT></B></P>
<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2><FONT face=serif size=2>This Amendment No. 4 (this &#147;Amendment&#148;) amends and supplements the Tender
Offer Statement on Schedule TO (the &#147;Original Schedule TO&#148;), originally filed
with the Securities and Exchange Commission (the &#147;SEC&#148;) on November 24, 2008, by
India Globalization Capital, Inc. (the &#147;Company&#148;), as amended by Amendment No. 1
to Schedule TO filed with the SEC on December 19, 2008 (&#147;Amendment No. 1&#148;),
Amendment No. 2 to Schedule TO filed with the SEC on January 8, 2009 (&#147;Amendment
No. 2&#148;), and Amendment No. 3 to Schedule TO filed with the SEC on January 8,
2009 (&#147;Amendment No. 3&#148; and together with the Original Schedule TO, Amendment
No. 1 and Amendment No. 2, the &#147;Schedule TO&#148;). The Schedule TO relates to the
offer by the </FONT>Company (the &#147;Offer&#148;) to all holders of 23,799,000 of the
Company&#146;s warrants (the &#147;Warrants&#148;), which consist of 22,609,000 Warrants issued
on March 8, 2006 in the Company&#146;s initial public offering (the &#147;IPO&#148;), 340,000
Warrants initially issued to Ram Mukunda, Ranga Krishna and John Cherin in a
private placement of 170,000 units consisting of 170,000 shares of Common Stock
and the 340,000 Warrants immediately prior to the Company&#146;s IPO, and 850,000
Warrants issued to Oliveira Capital, LLC in a private placement pursuant to a
certain Note and Warrant Purchase Agreement dated February 5, 2007, to a) permit
the exchange of 5 Warrants and $0.55 for one share of common stock and b) permit
the exchange of 12 Warrants for one share of common stock. The Company&#146;s Offer
is being made upon the terms and subject to the conditions set forth in the
Offer Letter dated November 24, 2008, a copy of which was attached to the
Original Schedule TO as Exhibit (a)(1), as amended by Supplement No. 1 to the
Offer Letter, a copy of which was attached to Amendment No. 1 as Exhibit
(a)(11). </FONT><B><FONT face=serif></FONT></B></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>This
Amendment amends only the items to the Schedule TO that are being amended, and
unaffected items are not included herein. Except as specifically set forth
herein, this Amendment No. 4 does not modify any of the information previously
reported in the Schedule TO. All capitalized terms used in this Amendment No. 4
and not otherwise defined have the respective meanings ascribed to them in the
Schedule TO. This Amendment speaks only as of the original filing date, and this
filing has not been updated to reflect any events occurring after the original
filing date or to modify or update disclosures affected by other subsequent
events. You should read this Amendment No. 4 to the Schedule TO together with
the Schedule TO.</FONT></P>
<P align=left><FONT face=serif size=2><FONT size=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The Offer expired at 5:01 p.m., New
York City time, on January 9, 2009. </FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>This
Amendment No. 4 is intended to satisfy the reporting requirements of Rule
13e-4(c)(4) under the Exchange Act. </FONT></P>
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>

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    <TD noWrap align=left width="100%" colSpan=5><B><FONT face=serif size=2>Item 1. </FONT></B><B><FONT face=serif size=2>SUMMARY TERM
      SHEET</FONT></B>&nbsp; </TD></TR>
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    <TD noWrap align=left width="100%" colSpan=5>&nbsp;</TD></TR>
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    <TD align=left width="100%" colSpan=5>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>Item 1 of the Schedule TO is hereby amended and
      supplemented by adding the following language:</FONT><BR><BR>
      <P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>The
      Offer now expired at 5:01 p.m., United States Eastern Time on the evening
      of</FONT><B><FONT face=serif size=2> </FONT></B><FONT face=serif size=2>Friday, January 9, 2009. Based on information provided by
      Continental Stock Transfer &amp; Trust Company (the &#145;&#145;Depositary&#146;&#146;),
      11,943,878 warrants were exercised pursuant to the terms of the Offer in
      exchange for an aggregate of 1,311,064 shares of Common Stock, of which
      2,706,350 warrants were exercised with an aggregate cash payment of
      $297,698.50 in exchange for an aggregate of 541,270 shares of Common Stock
      and 9,237,528 warrants were exercised by exchange of warrants in exchange
      for an aggregate of 769,794 shares of Common Stock. The Company has
      accepted for exercise all of the warrants validly tendered and not
      withdrawn. On January 12, 2009, the Company issued a press release
      announcing the final results of the Offer. A copy of this press release is
      filed as Exhibit (a)(13) to this Amendment No. 4 and is incorporated
      herein by reference. </FONT></P></TD></TR>
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    <TD noWrap align=left width="100%" colSpan=5>&nbsp;</TD></TR>
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    <TD noWrap align=left width="100%" colSpan=5><B><FONT face=serif size=2>Item 4. </FONT></B><B><FONT face=serif size=2>TERMS OF THE
      TRANSACTION</FONT></B>&nbsp; </TD></TR>
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    <TD noWrap align=left width="100%" colSpan=5>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=left width="1%"><FONT face=serif size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (a)</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD vAlign=top align=left width="98%" colSpan=3><FONT face=serif size=2>Item 4 of the Schedule TO is hereby amended and supplemented by
      adding the language set forth above under Item 1. Such language is
      incorporated herein by reference. </FONT></TD></TR>
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    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="98%" colSpan=3>&nbsp;</TD></TR>
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    <TD noWrap align=left width="100%" colSpan=5><B><FONT face=serif size=2>Item 12. </FONT></B><B><FONT face=serif size=2>EXHIBITS.</FONT></B></TD></TR>
  <TR>
    <TD noWrap align=left width="100%" colSpan=5>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="100%" colSpan=5><FONT face=serif size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The following are attached as
      exhibits to this Schedule TO:</FONT></TD></TR>
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    <TD noWrap align=left width="100%" colSpan=5>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=left width="1%"><FONT face=serif size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (a)</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=right width="1%"><FONT face=serif size=2>(1)</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD vAlign=top noWrap align=left width="96%"><FONT face=serif size=2>Offer
      Letter to Warrant Holders, dated November 24, 2008.*</FONT></TD></TR>
  <TR>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=right width="1%"></TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="96%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=left width="1%">&nbsp; </TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=right width="1%"><FONT face=serif size=2>(2)</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%"><FONT face=serif size=2></FONT></TD>
    <TD vAlign=top noWrap align=left width="96%"><FONT face=serif size=2>Letter of Transmittal.*</FONT></TD></TR>
  <TR>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=right width="1%"></TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="96%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=left width="1%">&nbsp; </TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=right width="1%"><FONT face=serif size=2>(3)</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%">&nbsp;</TD>
    <TD vAlign=top noWrap align=left width="96%"><FONT face=serif size=2>Notice of Guaranteed Delivery.*</FONT></TD></TR>
  <TR>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=right width="1%"></TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="96%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=left width="1%">&nbsp; </TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=right width="1%"><FONT face=serif size=2>(4)</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="96%"><FONT face=serif size=2>Form
      of letter to brokers, dealers, commercial banks, trust companies and other
      nominees.*</FONT></TD></TR>
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    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=right width="1%"></TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="96%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=left width="1%">&nbsp; </TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=right width="1%"><FONT face=serif size=2>(5)</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%"><FONT face=serif size=2></FONT></TD>
    <TD vAlign=top noWrap align=left width="96%"><FONT face=serif size=2>Form
      of letter to be used by brokers, dealers, commercial banks, trust
      companies and other nominees to their clients.*</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=left width="1%">&nbsp; </TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="1%">&nbsp; </TD>
    <TD vAlign=top noWrap align=left width="96%"><FONT face=serif size=2></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=left width="1%">&nbsp; </TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=right width="1%"><FONT face=serif size=2>(6)</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%"><FONT face=serif size=2></FONT></TD>
    <TD vAlign=top align=left width="96%"><FONT face=serif size=2>Prospectus
      dated November 12, 2008 contained in Post-Effective Amendment No. 3 to the
      Company&#146;s Registration Statement on Form S-1 and filed November 12, 2008
      (Incorporated herein by reference).*</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=left width="1%">&nbsp; </TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="1%">&nbsp; </TD>
    <TD vAlign=top noWrap align=left width="96%"><FONT face=serif size=2></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=left width="1%">&nbsp; </TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=right width="1%"><FONT face=serif size=2>(7)</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%"><FONT face=serif size=2></FONT></TD>
    <TD vAlign=top align=left width="96%"><FONT face=serif size=2>Annual
      Report on Form 10-KSB for the year ending March 31, 2008 and filed July
      16, 2008 (Incorporated by reference
herein).*</FONT></TD></TR></TABLE><BR>
<P align=center><FONT face=serif><FONT size=2>3<BR>&nbsp;</FONT></FONT>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<BR>
<TABLE cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top></TD>
    <TD vAlign=top>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD vAlign=top><FONT size=2>(8)</FONT></TD>
    <TD vAlign=top>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD vAlign=top width="100%"><FONT size=2>Quarterly Report on Form 10-Q for
      the quarter ended June 30, 2008 and filed August 18, 2008 (Incorporated
      herein by reference). *</FONT></TD></TR>
  <TR>
    <TD vAlign=top colSpan=5>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top>&nbsp;</TD>
    <TD vAlign=top></TD>
    <TD vAlign=top><FONT size=2>(9)</FONT></TD>
    <TD vAlign=top></TD>
    <TD vAlign=top width="100%"><FONT face=serif size=2>Quarterly Report on
      Form 10-Q for the quarter ended September 30, 2008 and filed with the SEC
      on November 14, 2008 (Incorporated herein by reference).*</FONT></TD></TR>
  <TR>
    <TD vAlign=top colSpan=5>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top>&nbsp;</TD>
    <TD vAlign=top></TD>
    <TD vAlign=top><FONT size=2>(10)</FONT></TD>
    <TD vAlign=top></TD>
    <TD vAlign=top width="100%"><FONT face=serif size=2>Press Release dated
      November 24, 2008.*</FONT></TD></TR>
  <TR>
    <TD vAlign=top colSpan=5>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top>&nbsp;</TD>
    <TD vAlign=top></TD>
    <TD vAlign=top><FONT size=2>(11)</FONT></TD>
    <TD vAlign=top></TD>
    <TD vAlign=top width="100%"><FONT face=serif size=2>Supplement No. 1 to
      Offer Letter to Warrant Holders, dated December 19, 2008.**</FONT></TD></TR>
  <TR>
    <TD vAlign=top colSpan=5>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top>&nbsp;</TD>
    <TD vAlign=top></TD>
    <TD vAlign=top><FONT size=2>(12)</FONT></TD>
    <TD vAlign=top></TD>
    <TD vAlign=top width="100%"><FONT face=serif size=2>Press Release dated
      January 6, 2009.***</FONT></TD></TR>
  <TR>
    <TD vAlign=top></TD>
    <TD vAlign=top></TD>
    <TD vAlign=top></TD>
    <TD vAlign=top></TD>
    <TD vAlign=top width="100%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top></TD>
    <TD vAlign=top></TD>
    <TD vAlign=top><FONT size=2>(13)</FONT></TD>
    <TD vAlign=top></TD>
    <TD vAlign=top width="100%"><FONT size=2>Press Release dated January 12,
      2009.</FONT></TD></TR>
  <TR>
    <TD vAlign=top colSpan=5>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      (b)</FONT></TD>
    <TD vAlign=top noWrap><FONT size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    </FONT></TD>
    <TD vAlign=top width="100%" colSpan=3><FONT face=serif size=2>Not
      applicable.</FONT></TD></TR>
  <TR>
    <TD vAlign=top noWrap colSpan=5>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      (d)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top width="100%" colSpan=3><FONT face=serif size=2>Not
      applicable.</FONT></TD></TR>
  <TR>
    <TD vAlign=top noWrap colSpan=5>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      (g)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top width="100%" colSpan=3><FONT face=serif size=2>None.</FONT></TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top width="100%" colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      (h)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top width="100%" colSpan=3><FONT size=2>Not
    applicable.</FONT></TD></TR></TABLE>
<BR>
<DIV align=left><FONT face=serif><FONT size=2>*<FONT size=3>&nbsp;&nbsp;&nbsp;&nbsp; </FONT>Previously filed with the Original
Schedule TO.</FONT> </FONT></DIV>
<DIV align=left><FONT face=serif><FONT size=2>**<FONT size=3>&nbsp;&nbsp;
</FONT>Previously filed with Amendment No. 1 to Schedule TO.</FONT></FONT></DIV>
<DIV align=left><FONT face=serif><FONT size=2>***&nbsp; Previously filed with
Amendment No.&nbsp;2 to Schedule TO.</FONT> </FONT></DIV>
<P align=center><FONT face=serif><FONT size=2>4<BR>&nbsp;</FONT></FONT>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=center><B><FONT face=serif size=2>SIGNATURES </FONT></B></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>After due
inquiry and to the best of my knowledge and belief, I certify that the
information set forth in this statement is true, complete and correct.
</FONT></P>
<DIV align=right>
<TABLE cellSpacing=0 cellPadding=0 width="50%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="100%" colSpan=3><FONT face=serif size=2>INDIA
      GLOBALIZATION CAPITAL, INC.</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="100%" colSpan=3>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"><FONT face=serif size=2>By:</FONT> </TD>
    <TD noWrap align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="98%"><FONT face=serif size=2>/s/ Ram Mukunda</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"><FONT face=serif size=2>Name:</FONT> </TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="98%"><FONT face=serif size=2>Ram
      Mukunda</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"><FONT face=serif size=2>Title:</FONT> </TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="98%"><FONT face=serif size=2>Chief Executive
      Officer and President</FONT>&nbsp; </TD></TR></TABLE></DIV><BR>
<P align=left><FONT face=serif size=2><FONT size=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Date: January 12</FONT><FONT face=serif size=2>, 2009 </FONT></P>
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<TYPE>EX-99.A13
<SEQUENCE>2
<FILENAME>exhibit99_a13.htm
<DESCRIPTION>PRESS RELEASE DATED JANUARY 12, 2009.
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<P align=right><B><FONT face=serif size=2>EXHIBIT (a)(13)</FONT></B></P>
<P align=left><FONT face=serif size=2>FOR IMMEDIATE RELEASE</FONT></P>
<P align=center><FONT face=serif size=4>India Globalization Capital, Inc.
Announces<BR>Successful Conclusion of the Program for<BR>Exercise of Warrants to
Purchase Common Stock</FONT></P>
<P align=left><FONT face=serif size=2>BETHESDA, Md., January 12, 2009 -- (PR
Newswire) -- India Globalization Capital, Inc. (&#147;IGC&#148; or the &#147;Company&#148;), (AMEX:
IGC.U, IGC.WS, IGC), a company developing infrastructure in India, is pleased to
announce that its tender offer for the exercise of its outstanding warrants to
purchase common stock closed successfully upon expiration of the tender offer
period on Friday, January 9, 2009 at 5:00 p.m. EST.</FONT></P>
<P align=left><FONT face=serif size=2>Under the tender offer, 11,943,878
warrants (50% of the warrants outstanding) were exercised of which 2,706,350
warrants were exercised by exchanging 5 warrants and $0.55 for one share of
common stock and 9,237,528 warrants were exercised by surrendering 12 warrants
for one share of common stock. The offer resulted in the Company raising a total
of $297,698.50 in cash proceeds and issuing a total of 1,311,064 new shares of
common stock.</FONT></P>
<P align=left><FONT face=serif size=2>Following the issuance of the shares
relating to the warrant exercise, India Globalization Capital, Inc. will have
10,091,171 shares of common stock outstanding. The remaining 11,855,122 warrants
outstanding after the tender offer will expire in accordance with their terms on
March 3, 2011.</FONT></P>
<P align=left><FONT face=serif size=2>&#147;We are pleased with the success of the
tender offer. Our investors understood the institutional imperative of
simplifying our capital structure.&#148; Said Ram Mukunda, CEO of IGC.</FONT></P>
<P align=left><FONT face=serif size=2>Questions regarding the completed tender
offer may be directed to Continental Stock Transfer &amp; Trust Company, the
Depositary, at (212) 509-4000, ext. 536, or Morrow &amp; Co., LLC., the
Information Agent, at (800) 607-0088.</FONT></P>
<P align=left><FONT face=serif size=2>This news release is merely a notification
of the results of the tender offer and is neither an offer to buy or exchange
securities or constitute the solicitation of an offer to sell or exchange any
securities in IGC or any of its subsidiaries. The tender offer was made only
through documentation distributed to record holders of IGC Warrants (AMEX:
IGC.WS) and IGC Units (AMEX: IGC.U) as of November 24, 2008, as supplemented on
December 22, 2008.</FONT></P>
<P align=left><B><U><FONT face=serif size=2>About IGC</FONT></U></B></P>
<P align=left><FONT face=serif size=2>Based in Bethesda, Maryland, IGC operates
through two infrastructure companies in India, Sricon Infrastructure Private
Limited (&#147;Sricon&#148;) and Techni Bharathi, Limited (&#147;TBL&#148;). IGC owns sixty-three
percent of Sricon and seventy-seven percent of TBL. IGC through its subsidiaries
in India has three lines of business: 1) Highway and other</FONT></P>
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<P align=left><FONT face=serif size=2>heavy construction, 2) mining &amp;
quarrying and 3) civil construction and engineering of high temperature plants.
The Company&#146;s medium term plans are to expand each of these lines of
business.</FONT></P>
<P align=left><FONT face=serif size=2>IGC&#146;s operations are based in India. The
company has offices in Maryland, Mauritius, Nagpur, Cochin, Delhi and Bangalore.
Copies of the Form S-1 and IGC&#146;s other filings with the SEC containing
information about IGC, our Indian operations and other relevant documents, are
available at no charge at the SEC&#146;s Internet site (http://www.sec.gov). For more
information about IGC, visit the company&#146;s web site at
www.indiaglobalcap.com.</FONT></P>
<P align=left><B><U><FONT face=serif size=2>Forward-Looking
Statements:</FONT></U></B></P>
<P align=left><FONT face=serif size=2>This press release may contain
forward-looking statements. These statements reflect management's current views
and are subject to risks and uncertainties that could cause actual results to
differ materially from those projected, expressed or implied in these
statements. Factors, which could cause actual results to differ, relate to: (i)
the ability of the parties to successfully execute on the contracts and business
plan, (ii) our ability to raise additional capital and the structure of such
capital including the exercise of warrants, and (iii) changes in the exchange
rate between the US dollar and the Indian Rupee. We undertake no obligation to
publicly update any forward-looking statements, whether as a result of new
information, future events or otherwise. Other factors and risks that could
cause or contribute to actual results differing materially from such forward
looking statements have been discussed in greater detail in the Company's
registration statement on Form S-1.</FONT></P>
<P align=left><B><U><FONT face=serif size=2>Contact:</FONT></U></B></P>
<P align=left><FONT face=serif size=2>Sid Somarriba<BR></FONT><FONT face=serif size=2>India Globalization Capital,
Inc.<BR>+1-301-983-0998<BR>info@indiaglobalcap.com<BR></FONT><FONT face=serif size=2>www.indiaglobalcap.com</FONT></P>
<P align=left><I><FONT face=serif size=2>Investor Relations:</FONT></I></P>
<P align=left><FONT face=serif size=2>Jon Cunningham<BR>RedChip Companies,
Inc.<BR>1-800-733-2447, Ext. 107<BR>info@redchip.com<BR></FONT><FONT face=serif size=2>www.redchip.com</FONT></P>
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