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Exhibit 21.1

 

The table below lists our subsidiaries.

 

Subsidiaries  Ultimate
holding
company		  Jurisdiction of
Incorporation		  Percentage of
holding
as of
March 31,
2025		   Percentage of
holding
as of
March 31,
2024		 
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  India   100    100 
IGC Materials Private Limited (IGC-MPL) (2)  IGC  India   100    100 
IGC Enterprises Limited (IGC-ENT)  IGC  Hong Kong   100    100 
Hamsa Biopharma India Pvt. Ltd.  IGC  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.