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Financial Instruments - Fair Value Measurements (Tables)
12 Months Ended
Mar. 31, 2024
Financial Instruments - Fair Value Measurements (Tables) [Line Items]  
Schedule of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis The carrying value of financial instruments not carried at fair value by categories are as below:
  March 31, 2024   March 31, 2023 
As at  Carrying value   Carrying value 
Financial assets        
Cash and cash equivalents  $1,794,639   $3,686,741 
Accounts receivable   194,197    255,175 
Receivable from government authorities   445,828    4,211,143 
Long term investments   91,947    254,032 
Other financial assets   770,941    1,381,926 
Total assets   3,297,552    9,789,017 
Financial liabilities          
Accounts payable  $14,431,587   $6,547,978 
Debt   5,049,483    5,509,948 
Other financial liabilities   1,232,930    1,349,393 
Total liabilities   20,714,000    13,407,319 
Schedule of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis The following tables present information about the Company’s financial assets and liabilities measured at fair value on a recurring basis:
   March 31, 2024 
   Total Carrying value   Level 1   Level 2   Level 3 
Assets:                
Assets held for sale  $629,908   $-   $629,908   $- 
Liabilities:                    
Atalaya Note   10,067,601    -    -    10,067,601 
   March 31, 2023 
   Total Carrying value   Level 1   Level 2   Level 3 
Assets:                
Assets held for sale  $923,176   $-   $923,176   $- 
Liabilities:                    
Preferred stock warrant liability  $1,190,691   $-   $-   $1,190,691 
Notes   10,944,727    -    -    10,944,727 
SSCPN   17,422,132    -    -    17,422,132 
Derivative financial instrument   14,373,856    -    -    14,373,856 

 

Schedule of Changes in the Fair Value The changes in the fair value are summarized below:
   Preferred stock warrant liability   Notes   SSCPN   Unsecured Convertible Note (‘Atalaya Note’)   Derivative financial instrument (‘Warrants’)
(Refer
Note 17)
 
Balance as of April 01, 2022  $1,610,938   $-   $-   $-   $- 
Issue of Notes  $-   $10,000,000   $-    -   $- 
Issue of SSCPN and warrants   -    -    8,109,954    -    - 
Change in fair value of convertible preferred stock warrant   (420,247)   -    -    -    - 
Change in fair value of Notes   -    944,727    -    -    - 
Change in fair value of SSCPN   -    -    9,312,177    -    - 
Change in fair value of derivative financial instrument   -    -    -    -    14,373,856 
Balance as of March 31, 2023   1,190,691    10,944,727    17,422,132    -    14,373,856 
                          
Balance as of April 1, 2023   1,190,691    10,944,727    17,422,132    -    14,373,856 
Issue of unsecured convertible note at discount   -    -    -    8,434,605    - 
Issue of SSCPN and warrants   -    -    13,175,026    -    - 
Change in fair value of convertible preferred stock warrant   5,284,494    -    -    -    - 
Change in fair value of SSCPN             (3,448,845)          
Change in fair value of Notes   -    (6,990,870)   -    -    - 
Change in fair value of derivative financial instrument   -    -    -    -    3,465,293 
Conversion to Common Stock   -    (3,953,857)   (27,148,313)   -    - 
Reclassification on conversion of preferred stock warrants and derivative financial instruments of Zoomcar, Inc. to common stock warrants of the Company   (6,475,185)   -    -    -    (17,839,149)
Change in fair value of unsecured convertible note   -    -    -    1,632,996    - 
Balance as of March 31, 2024   -    -    -    10,067,601    - 
Warrant [Member]  
Financial Instruments - Fair Value Measurements (Tables) [Line Items]  
Schedule of Model Valuation Assumtions The Company used the following assumptions for the valuation of warrant liability and derivative financial instrument in the model:
   December 28, 2023   March 31, 2023 
         
Remaining term (years)   5.0    5.2 
Volatility1   55%   53%
Risk-free rate2   3.80%   3.60%
Estimated exercise price  $3.0   $0.23-5 
Fair value per share  $3.7   $10.7 

 

1.Expected volatility is based upon the historical volatility of a peer group of publicly traded companies.
2.The risk-free rate for the expected term of the warrant is based on U.S. Treasury constant maturities yield at measurement date.

 

Unsecured Convertible Note [Member]  
Financial Instruments - Fair Value Measurements (Tables) [Line Items]  
Schedule of Model Valuation Assumtions The Company used the following assumptions for the valuation of Atalaya Note as on March 31, 2024 in the model of Valuation of:
   Atalaya Note 
     
Remaining term (years)   4.75 
Volatility1   80%
Risk-free rate2   4.90%
Conversion price  $10.00 
Fair value per share  $0.60 

 

1.Expected volatility is based upon the historical volatility of a peer group of publicly traded companies.
2.The risk-free rate for the expected term of the warrant is based on U.S. Treasury constant maturities yield at measurement date.