EX-21.1 2 ex_691484.htm EXHIBIT 21.1

Exhibit 21.1

The table below lists our subsidiaries.

Subsidiaries |  | Immediate holding company |  | Jurisdiction of Incorporation |  | Percentage of holding as of March 31, 2024 |  |  | Percentage of holding as of March 31, 2023 |
IGCare, LLC |  | IGC |  | Maryland, USA |  |  | 100 |  |  |  | 100 |
IGC Pharma, LLC |  | IGC |  | Colorado, USA |  |  | 100 |  |  |  | 100 |
HH Processors, LLC (formerly Holi Hemp, LLC) |  | IGC |  | Maryland, USA |  |  | 100 |  |  |  | 100 |
Sunday Seltzer, LLC |  | IGC |  | Maryland, USA |  |  | 100 |  |  |  | 100 |
SAN Holdings, LLC |  | IGC |  | Maryland, USA |  |  | 100 |  |  |  | 100 |
IGC Pharma SAS (1) |  | IGC |  | Colombia |  |  | 100 |  |  |  | 100 |
Techni Bharathi Private Limited (TBL) |  | IGC |  | India |  |  | 100 |  |  |  | 100 |
India Mining and Trading Private Limited (IGC-IMT) (2) |  | IGC-M |  | India |  |  | 100 |  |  |  | 100 |
IGC Materials Private Limited (IGC-MPL) (2) |  | IGC-M |  | India |  |  | 100 |  |  |  | 100 |
IGC Enterprises Limited (IGC-ENT) (3) |  | TBL |  | Hong Kong |  |  | 100 |  |  |  | 100 |
Hamsa Biopharma India Pvt. Ltd. |  | IGCare |  | India |  |  | 100 |  |  |  | 100 |
IGC Pharma IP, LLC |  | IGC |  | Maryland, USA |  |  | 100 |  |  |  | 100 |

(1) | Beneficially owned by IGC

(2) | IGC-IMT and IGC-MPL are non-operating subsidiaries. These subsidiaries did not have a material impact on the balance sheet or statement of operations.

(3) | Beneficially owned by Techni Bharathi Private Limited (TBL)