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Recapitalization (Tables)
12 Months Ended
Mar. 31, 2024
Restructuring and Related Activities [Abstract]  
Summary of Business Acquisition Elements Reconciled to Consolidated Financial Statements

Cash-trust and cash, net of redemptions

 

 

 

 

 

 

 

26,824

 

Less: transaction costs and advisory fees, paid

 

 

 

 

 

 

 

 

Net proceeds from the Business Combination

 

 

 

 

 

 

 

26,824

 

Add: other current assets (including FPA)

 

 

 

 

 

 

 

46,257,695

 

Less: transaction costs and advisory fees, accrued

 

 

 

 

 

 

 

(17,697,924

)

Less: promissory note

 

 

 

 

 

 

 

(3,731,708

)

Reverse recapitalization, net

 

 

 

 

 

 

 

24,854,887

 

Summary of Number of Ordinary Shares Issued Immediately Following the Consummation of the Business Combination

The number of shares of Ordinary Share 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

 

Roadzen (DE) Common stock

 

 

 

 

 

 

 

58,396,520

 

Shares issued to FPA

 

 

 

 

 

 

 

702,255

 

Ordinary shares immediately after the Business Combination

 

 

 

 

 

 

 

68,440,829

 

Unvested Restricted Stock Units

 

 

 

 

 

 

 

9,903,500

 

 

 

 

 

 

 

 

 

 

Summary of Number of Roadzen Inc Shares

The number of Roadzen (DE) shares was determined as follows:

 

 

 

 

 

Roadzen (DE)
Common stock

 

 

Ordinary Shares issued to shareholders of Roadzen (DE)

 

Common stock

 

 

 

 

 

606,425

 

 

 

16,501,984

 

Convertible preferred stock

 

 

 

 

 

1,539,566

 

 

 

41,894,536

 

 

 

 

 

 

2,145,991

 

 

 

58,396,520