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Financial instruments (Tables)
9 Months Ended 12 Months Ended
Dec. 31, 2023
Mar. 31, 2023
Fair Value Disclosures [Abstract]    
Schedule of Financial Instruments Measured at Fair Value on Recurring Basis

The following table represents the fair value hierarchy for the Company’s financial instruments measured at fair value on a recurring basis as of December 31, 2023:

 

 

December 31, 2023

 

 

Fair Value Measured using

 

 

 

 

Particulars

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Financial liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Convertible promissory notes

 

 

1,029,374

 

 

 

 

 

 

 

 

 

1,029,374

 

 

 

1,029,374

 

 

 

 

 

 

 

 

 

1,029,374

 

 

 

December 31, 2023

 

 

Fair Value Measured using

 

 

 

 

Particulars

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Financial assets:

 

 

 

 

 

 

 

 

 

 

 

 

Forward purchase agreement

 

 

 

 

 

 

 

 

24,462,103

 

 

 

24,462,103

 

 

 

 

 

 

 

 

 

24,462,103

 

 

 

24,462,103

 

The following table represents the fair value hierarchy for the Company’s financial instruments measured at fair value on a recurring basis as of March 31, 2022:

 

 

March 31, 2022

 

 

Fair Value Measured using

 

 

 

 

Particulars

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Financial liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Share warrants

 

 

 

 

 

 

 

 

68,675

 

 

 

68,675

 

Convertible notes

 

 

 

 

 

 

 

 

23,032,002

 

 

 

23,032,002

 

 

 

 

 

 

 

 

 

23,100,677

 

 

 

23,100,677

 

Schedule of Reconciliation of the Company's Financial Liabilities Measured and Recorded at Fair Value on a Recurring Basis  

The following table presents a reconciliation of the Company’s financial liabilities measured and recorded at fair value on a recurring basis as of March 31, 2023 and 2022, using significant unobservable inputs (Level 3):

 

 

Warrants

 

 

Convertible
notes

 

Balance as of March 31, 2022

 

 

68,675

 

 

 

23,032,002

 

Change in fair value

 

 

34,484

 

 

 

974,890

 

Conversion of convertible notes into preferred stock

 

 

 

 

 

24,006,892

 

Exercise of share warrants

 

 

103,159

 

 

 

 

Balance as of March 31, 2023