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.