Recapitalization (Tables)

6 Months Ended

Sep. 30, 2023

Restructuring and Related Activities [Abstract]

Summary of Business Acquisition Elements Reconciled to Consolidated Financial Statements

The following table reconciles the elements of the Business Combination to the condensed consolidated statements of cash flows and the condensed consolidated statement of changes in redeemable convertible preferred stock and stockholders’ equity (deficit) for the period ended September 30, 2023:

Cash-trust and cash, net of redemptions	32,770
Less: transaction costs and advisory fees, paid	—
Net proceeds from the Business Combination	32,770
Add: other current assets (including forward purchase agreement)	46,257,695
Less: transaction costs and advisory fees, accrued	(17,697,924	)
Less: promissory note	(3,731,708	)
Reverse recapitalization, net	24,860,833

Summary of Number of Shares of Common Stock Issued Immediately Following the Consummation of the Business Combination

The number of shares of common stock issued immediately following the consummation of the Business Combination were:

Vahanna Class A common stock, outstanding prior to the Business Combination	25,012,500
Less: Redemption of Vahanna Class A common stock	(15,670,446	)
Class A common stock of Vahanna	9,342,054
Predecessor Roadzen Shares	58,396,520
Shares Issued to PIPE	702,255
Common stock immediately after the Business Combination	68,440,829
Unvested Restricted Stock units	9,903,480

Summary of Number of Predecessor Roadzen Shares

The number of Predecessor Roadzen shares was determined as follows:

	Predecessor Roadzen Shares		Shares issued to shareholders of Predecessor Roadzen
Common stock		606,425		16,501,984
Convertible preferred stock		1,539,566		41,894,536
		2,145,991		58,396,520