EX-21 2 ex21.htm
Exhibit 21
List of Subsidiaries

Subsidiaries |  | Immediate holding company |  | Jurisdiction of Organization |  | Names Under Which Subsidiary Does Business
IGC – Mauritius (“IGC-M”) (1) |  | IGC |  | Mauritius |  | Non-operating subsidiary
IGC India Mining and Trading Private Limited (“IGC-IMT”) (2) |  | IGC-M |  | India |  | IGC Mining and Trading, Limited
IGC Logistic Private Limited (“IGC-LPL”) (2) |  | IGC-M |  | India |  | IGC Logistics, Private Limited
IGC Materials Private Limited (“IGC-MPL”) (2) |  | IGC-M |  | India |  | IGC Materials, Private Limited
H&F Ironman Limited (“HK Ironman”) (1) |  | IGC |  | Hong Kong |  | Non-operating subsidiary
Linxi H&F Economic and Trade Co. (“PRC Ironman”) (3) |  | HK Ironman |  | Peoples’ Republic of China |  | Linxi H&F Economic and Trade Co.
Techni Bharathi Limited (“TBL”) (4) |  | IGC-M |  | India |  | Techni Bharathi Limited

(1) Wholly-owned by India Globalization Capital, Inc.
(2) Wholly-owned by India Globalization Capital, Mauritius, Limited.
(3) 95% owned by HK Ironman, which is India Globalization Capital, Inc.’s wholly-owned subsidiary.
(4) 77% owned by India Globalization Capital, Mauritius, Limited.