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Exhibit 21.1
List of Subsidiaries
Subsidiaries | Immediate holding company | Country of Incorporation | Percentage of holding as of March 31, 2014 | Percentage of holding as of March 31, 2013 | ||||||||
H&F Ironman Limited (“HK Ironman”) (1) | IGC | Hong Kong | 100 | 100 | ||||||||
Linxi H&F Economic and Trade Co. ("PRC Ironman") (3) | HK Ironman | Peoples’ Republic of China | 95 | 95 | ||||||||
IGC – Mauritius ("IGC-M") (1) | IGC | Mauritius | 100 | 100 | ||||||||
Techni Bharathi Private Limited (“TBL”) (2) | IGC-M | India | 100 | 100 | ||||||||
India Mining and Trading Private Limited ("IGC-IMT") (2) | IGC-M | India | 100 | 100 | ||||||||
IGC Materials Private Limited ("IGC-MPL") | IGC-M | India | 100 | 100 | ||||||||
IGC Logistic Private Limited ("IGC-LPL") (2) | IGC-M | India | 100 | 100 | ||||||||
IGC HK Mining and Trading Limited (“IGC-HK”) (2) | IGC-M | Hong Kong | 100 | 100 |
(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.