Prepayments and Other Current Assets (Tables)

12 Months Ended

Mar. 31, 2024

Prepaid Expense and Other Assets, Current [Abstract]

Schedule of Prepayments and Other Current Assets

	As of  March 31, 2024		As of March 31, 2023
Balance with statutory authorities		1,462,119		1,189,787
Unbilled revenue		1,821,134		868,382
Advances given (net of doubtful advances of $2,299,569 as of March 31, 2024 and $225,495 as of March 31, 2023)		672,716		922,380
Other receivables (net of doubtful receivables of $2,800,000 as of March 31, 2024)		6,829		126,928
Prepayments		1,613,407		22,091
Forward purchase agreement		28,784,993		—
Deposits		65,137		52,368
		34,426,335		3,181,936

i.Advances given include:

a.$ 244,087 and $ 822,278 of advances to suppliers as of March 31, 2024 and March 31, 2023, respectively.

b.$119,220 and $55,753 of advances to employees as of March 31, 2024 and March 31, 2023, respectively. Advances to employees include related party balances of $54,082 and $28,516 as of March 31, 2024 and as of March 31, 2023.

c.c) $2,042,459 in advances were extended to Peoplebay Consultancy Services Private Limited, FA Events & Media Private Limited, and FA Premium Insurance Private Limited. However, due to a loss of control over these entities during the year, the Company is doubtful on the recovery of these advances and has consequently created a provision.

ii.Other receivables includes a provision of $2,800,000 created against amount to be received from a subscriber on account of issuance of preferred stock of Roadzen (DE) during the financial year 2023-24 which was converted to Ordinary Shares upon Business Combination

iii.Forward purchase agreement

On August 25, 2023, Vahanna entered into an agreement with (i) Meteora Capital Partners, LP (“MCP”), (ii) Meteora Select Trading Opportunities Master, LP (“MSTO”), and (iii) Meteora Strategic Capital, LLC (“MSC” and, collectively with MCP and MSTO, “Seller”) (the “Forward Purchase Agreement” or “FPA”) for OTC Equity Prepaid Forward Transactions. Vahanna is referred to as the “Counterparty” prior to the consummation of the Business Combination, while the Parent Company is referred to as the “Counterparty” after the consummation of the Business Combination.

Schedule of Assumptions Used In Calculating Estimated Fair Value Of Forward Purchase Agreement

Assumptions used in calculating estimated fair value of Forward Purchase Agreement as of March 31, 2024 is as follows:

Volatility		62.65	%
Risk-free rate		4.21	%
Dividend yield		0.00	%
Strike price		10.77
Remaining term (years)	1 year