0000950170-24-013887 | 10-Q | XBRL Viewer

Particulars

For the
period ended
December 31,
2023

Operating lease cost

Short-term lease cost

Total lease cost

Income Taxes (Tables)

9 Months Ended

Dec. 31, 2023

Schedule of Income before Income Tax, Domestic and Foreign

The Company's net loss before provision for income taxes for the three months and nine months periods ended December 31, 2023 and December 31, 2022 was as follows:


Particulars	For the three months ended December 31, 2023			For the three months ended December 31, 2022			For the nine months ended December 31, 2023			For the nine months ended December 31, 2022
Domestic		(28,679,087	)		2,796,117			(61,637,236	)		(5,806,071	)
Foreign		(2,058,059	)		(2,450,329	)		(4,254,813	)		(3,932,603	)
Total		(30,737,146	)		345,788			(65,892,049	)		(9,738,674	)

Schedule of Components of Provision for Income Taxes

The components of the provision for income taxes for the three months and nine months periods ended December 31, 2023 and December 31, 2022 were as follows:


Particulars	For the three months ended December 31, 2023			For the three months ended December 31, 2022			For the nine months ended December 31, 2023			For the nine months ended December 31, 2022
Current:
Domestic		—			—			—			—
Foreign		(27,700	)		17,214			44,377			22,115
		(27,700	)		17,214			44,377			22,115
Deferred:
Domestic		—			—			—			—
Foreign		(99,032	)		(65,933	)		(137,759	)		(68,826	)
		(99,032	)		(65,933	)		(137,759	)		(68,826	)

Total provision for income taxes		(126,732	)		(48,719	)		(93,382	)		(46,711	)

Schedule of Reconciliation of Statutory Federal Income Tax Rate

The following is a reconciliation of the federal statutory income tax rate to the Company’s effective tax rate for the three months and nine months periods ended December 31, 2023 and December 31, 2022:


Particulars	For the three months ended December 31, 2023			For the three months ended December 31, 2022			For the nine months ended December 31, 2023			For the nine months ended December 31, 2022
Federal statutory income tax rate		21.00	%		21.00	%		21.00	%		21.00	%
Non deductible expenses		0.03	%		26.80	%		4.98	%		(2.93	%)
Valuation allowance		(20.51	%)		0.82	%		(25.73	%)		(19.41	%)
Foreign rate differential		(0.16	%)		(27.81	%)		(0.17	%)		1.64	%
Share warrants		0.00	%		2.01	%		0.00	%		(0.07	%)
Other		0.05	%		(36.91	%)		0.06	%		0.25	%
Total provision for income taxes		0.41	%		(14.09	%)		0.14	%		0.48	%

Schedule of Net Deferred Tax Assets

The components of the Company’s net deferred tax assets as of the nine months period ended December 31, 2023 and year ended March 31, 2023 were as follows:


Particulars	As of December 31, 2023			As of March 31, 2023
Deferred tax assets:
Net operating loss carry forwards		25,134,198			8,480,316
Unabsorbed depreciation carry forwards		107,160			54,438
Retirement benefits		74,587			56,603
Depreciation and amortization		124,269			50,918
Others		241,303			5,965
Total deferred tax assets		25,681,517			8,648,240
Less: valuation allowance		(25,521,208	)		(8,565,895	)
Deferred tax assets, net of valuation allowance		160,309			82,345
Deferred tax liabilities:
Intangibles on account of business combination		(523,462	)		—
Net deferred tax assets/ (liabilities)		(363,153	)		82,345

Schedule of Movement in Net Deferred Tax Assets

Movement in net deferred tax assets:


	As of March 31, 2023			Recognized/ reversed through statements of operations			Impact of currency translation and acquisitions			As of December 31, 2023
Deferred tax assets:
Net operating loss carry forwards		8,480,316			16,653,882			—			25,134,198
Unabsorbed depreciation carry forwards		54,438			52,722			—			107,160
Retirement benefits		56,603			17,984			—			74,587
Depreciation and amortization		50,918			73,351			—			124,269
Fair value changes on convertible notes		—			—			—			—
Others		5,965			235,338			—			241,303
Less: valuation allowance		(8,565,895	)		(16,955,313	)		—			(25,521,208	)
Deferred tax liabilities:
Intangibles on account of business combination		—			(523,462	)		—			(523,462	)
Acquisitions		—			606,512			(606,512	)		—
Currency translation		—			(23,255	)		23,255			—
Net deferred tax assets/ (liabilities)		82,345			137,759			(583,257	)		(363,153	)


Particulars	As of March 31, 2022			Recognized/ reversed through statements of operations			Impact of currency translation and acquisitions		As of March 31, 2023
Deferred tax assets:
Net operating loss carry forwards		5,742,033			2,738,283			—		8,480,316
Unabsorbed depreciation carry forwards		9,174			45,264			—		54,438
Retirement benefits		53,656			2,947			—		56,603
Depreciation and amortization		25,232			25,686			—		50,918
Fair value changes on convertible notes		3,967			(3,967	)		—		—
Others		288,348			(282,383	)		—		5,965
Less: valuation allowance		(6,052,307	)		(2,513,588	)		—		(8,565,895	)
Deferred tax liabilities:
Intangibles on account of business combination		(117,729	)		117,729			—		—
Currency translation		—			(1,286	)		1,286		—
		(47,626	)		128,685			1,286		82,345

Prepayments and Other Current Assets - Additional Information (Details) - USD ($)	3 Months Ended	9 Months Ended
	Dec. 31, 2023	Dec. 31, 2023	Mar. 31, 2023
Prepaid Expense And Other Assets Current [Line Item]
Cash payments to the Seller	$ 3,902	$ 3,902	$ 993
Prepayments	1,771,555	1,771,555	$ 22,091
Forward Purchase Agreement Asset [Member]
Prepaid Expense And Other Assets Current [Line Item]
Cash payments to the Seller	46,100,000	46,100,000
Prepayments	46,000,000	46,000,000
Reimbursable transaction cost	$ 100,000	$ 100,000
Recycled shares	4,297,745	4,297,745
Asset PIPE subscription shares	702,255	702,255
Fair value of forward purchase agreement asset prepayment amount		$ 46,100,000
Fair value of forward purchase agreement asset reduction in the economics provided by sellers		23,500,000
Fair value of forward purchase agreement asset payment at the cash settlement payment date		$ 22,600,000
Fair value of forward purchase agreement asset selling amount	$ 2,290,633
Fair value of forward purchase agreement asset gain amount	$ 4,152,541

Sum Due to Insurer - Additional Information (Details)	Dec. 31, 2023 USD ($)
Sum Due To Insurer [Abstract]
Sum due to insurer	$ 8,866,766

Cash, Cash Equivalents and Restricted Cash - Schedule of Cash, Cash Equivalents And Restricted Cash (Details) - USD ($)	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022
Cash and Cash Equivalents [Abstract]
Balances with banks In current accounts	$ 9,402,795	$ 588,347
Cash in hand	3,902	993
Cash and Cash Equivalents, at Carrying Value, Total	9,406,697	589,340	$ 1,283,615
Restricted cash and cash equivalents-non-current	$ 427,697	$ 542,490	$ 641,388

- Definition

Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Excludes cash and cash equivalents within disposal group and discontinued operation.

+ References + Details

Stock Based Compensation - Additional Information (Details) - USD ($)	3 Months Ended	9 Months Ended
	Dec. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation expense		$ 30,779,664	$ 0
Restricted Stock Units (RSUs)
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Service vesting period		1 year
Stock-based compensation expense	$ 27,253,455
Unrecognized compensation expense	$ 76,777,946	$ 76,777,946
Unrecognized compensation weighted-average period		9 months

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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+ Details

Summary of Significant Accounting Policies (Policies)

9 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Basis of Presentation and Consolidation

Basis of presentation and consolidation

The accompanying consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”) and the rules and regulations of the Securities and Exchange Commission (the “SEC”). The accompanying consolidated financial statements reflect all adjustments that management considers necessary for a fair presentation of the results of operations for the periods presented.

The accompanying consolidated financial statements have been prepared on a consolidated basis and reflect the financial statements of the Parent Company and its subsidiaries. All intercompany balances and transactions have been eliminated. When the Company does not have a controlling interest in an investee but exerts significant influence over the investee, the Company applies the equity method of accounting.

Use of Estimates

Use of estimates

The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions, which affect the reported amounts in the financial statements and accompanying notes. Estimates are based on historical experience, where applicable, and other assumptions which management believes are reasonable under the circumstances. On an ongoing basis, the Company evaluates its estimates and underlying assumptions, including those related to the allowance for accounts receivables, fair values of financial instruments, measurement of defined benefit obligations, impairment of non-financial assets, useful lives of property, plant and equipment and intangible assets, income taxes, certain deferred tax assets and tax liabilities, and other contingent liabilities. Although these estimates are inherently subject to judgment and actual results could differ from those estimates, management believes that the estimates used in the preparation of the consolidated financial statements are reasonable.

Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimates are revised and in any future periods affected.

Revenue

Revenues consist primarily of revenue from:


	‑	insurance policy distribution in the form of commissions, brokerage, underwriting and other fees; and
	‑	insurance support services comprised of pre-inspection and risk assessment, roadside assistance, extended warranty, and claim processing using the Company’s IaaS platform.

The Company recognizes revenue at the time of transfer of promised goods or services to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. Revenues cannot be recognized until the performance obligation(s) are satisfied and control is transferred to the customer.

Income from distribution of insurance policies

Insurance policy distribution and brokerage income:

The Company enters into contracts with insurance companies for the purpose of distributing insurance products to end consumers. The Company’s performance obligation under these contracts is to sell insurance policies to earn commissions, brokerage and other fees. Revenue from distribution services is recognized at a point in time when the related services are rendered as per the terms of the agreement with customers. Revenue is disclosed net of the Goods and Service tax charged on such services.

Distribution fee from underwriting and pricing:

The Company enters into contracts with insurance companies for the purpose of underwriting insurance products for the automotive segment including its pricing on behalf of insurers. The risk of underwriting the insurance contract is covered by the insurer and thus the Company is considered as an agent for the purpose of recognizing revenue. The Company’s performance obligation under these contracts is to underwrite and price the policies. The Company generates underwriting fees termed as Managing General Agent fees (MGA fees) on provision of those services. The underwriting fees are determined as a percentage of net insurance premiums payable to the insurer (net of all commissions, royalties, and administration fees). Revenue from underwriting and pricing is recognized upfront based on the point in time i.e., at the time the policy is issued to the customer.

IaaS platform enabled services:

Roadside assistance and extended warranty income:

The Company enters into contracts with insurance companies and other subscribers in order to provide roadside assistance services and extended warranty services to their policyholders/subscribers. The Company’s performance obligation under these contracts is to provide roadside assistance and extended warranty services as a stand ready obligation. The Company is the primary obligor in these transactions and has latitude in establishing prices and selecting and contracting with suppliers, and is accordingly considered as principal for the purpose of recognizing gross revenue. Revenue from roadside assistance and extended warranty services is recorded over the tenure of contract which is usually one year.

Inspection income:

The Company enters into contracts with insurance companies to inspect vehicles for accident claims made by their policyholders. The Company’s performance obligation under these contracts is to inspect and assist in assessing claims for and on behalf of the customers, i.e. the insurance companies. The Company engages with multiple vendors to provide these services in different geographies. The Company is the primary obligor in the transaction and has latitude in establishing prices, and selecting and contracting with suppliers, and is accordingly considered as principal for the purpose of recognizing revenue. Revenue from inspection and risk assessment is recorded when the inspections are conducted.

Administration fee from insurance support and service plan administration:

The Company enters into contracts with insurance companies to provide insurance support services which includes premium collection, policy administration, claims handling and processing, customer service, updating customer files, etc., to provide better customer experience for the policyholders/subscribers. Revenue is recognized over time as the performance obligations are satisfied through effort expended to research, investigate, evaluate, document and process claims, and control of these services are transferred to customers/insurance companies. The Company’s obligation to manage and process the claims under insurance support services can range from one to seven years. The Company receives administration fees from its customers at inception of the contract prior to completion of transferring the services to the customer.

The Company’s performance obligation under these contracts is to provide the above services as a stand ready obligation. The obligation to provide insurance services lies with the insurer and the Company has no interest other than receiving the commission/management fee retained. The Company provides the above services on behalf of the insurance companies and is accordingly considered as an agent for the purpose of recognizing revenue.

The Company enters into contracts with Original Equipment Manufacturers ("OEMs") primarily to administer the service plans/extended warranty schemes launched by OEMs. The Company’s performance obligation under these contracts is to administer these programs. The Company acts on behalf of the OEMs and is accordingly considered as an agent for the purpose of recognizing revenue, as the primary obligation to fulfill the service/extended warranty schemes belongs to the OEMs. The administration fees received from the provision of service plan administration is recorded ratably over the tenure of contract which usually ranges from one to seven years.

Contract assets and liabilities

A contract asset (unbilled revenue) is the right to receive consideration in exchange for goods or services transferred to the customer. If the Company performs by transferring goods or services to a customer before the customer pays consideration or before payment is due, a contract asset is recognized for the earned consideration that is conditional.

Contract liabilities consist of amounts paid by the Company’s customers for which the associated performance obligations have not been satisfied and revenue has not been recognized based on the Company’s revenue recognition criteria described above.

Contract liabilities are classified as current in the consolidated balance sheet when the revenue recognition associated with the related customer payments and invoicing is expected to occur within one year of the balance sheet date and as long-term when the revenue recognition associated with the related customer payments and invoicing is expected to occur in more than one year from the balance sheet date.

Cost of Services

Cost of services

The cost of services for the Company's distribution business includes commissions paid to channel partners, employee related expenses and other direct expenses related to facilities.

For our IaaS platform-based services cost of revenue primarily consists of direct costs incurred for delivering the services to customers and the cost of onsite engineering support for roadside assistance, employee related expenses, risk assessment expenses and other direct expenses. Amounts incurred towards vendors/suppliers for inspections and roadside assistance also form part of direct cost.

Cost of services are recognized as they are incurred.

Cash and Cash Equivalents

Cash and cash equivalents

Cash and cash equivalents primarily represent cash balances in current bank accounts. The Company considers all short-term deposits with an original maturity of three months or less, when purchased, to be cash equivalents.

Restricted Cash and Cash Equivalents

Restricted cash and cash equivalents

Restricted cash and cash equivalents are pledged as security for contractual arrangements. Restricted cash and cash equivalents are classified as current and noncurrent assets based on the term of the remaining restriction. The reconciliation of cash and cash equivalents and restricted cash and cash equivalents to the consolidated balance sheets amounts are as follows:


		December 31, 2023		March 31, 2023
Cash and cash equivalents	$	9,406,697	$	589,340
Restricted cash and cash equivalents—current		—		—
Restricted cash and cash equivalents—non-current		427,697		542,490

Concentration of Credit Risk

Concentration of credit risk

Financial instruments that potentially subject the Company to concentration of credit risk are reflected principally in cash and cash equivalents, investment in equity securities and accounts receivable. The Company places its cash and cash equivalents and funds with banks that have high credit ratings, limits the amount of credit exposure with any one bank and conducts ongoing evaluations of the creditworthiness of the corporations and banks with which it does business. The Company holds cash and cash equivalent concentrations in financial institutions around the world in excess of federally insured limits. The Company has not experienced any losses to date related to these concentrations.

Accounts Receivable, Net

Accounts receivable, net

Accounts receivables are recorded at invoice value, net of allowance for doubtful accounts. On a periodic basis, management evaluates its accounts receivable and determines whether to provide an allowance or if any accounts should be written off based on a past history of write-offs, collections, and current credit conditions. A receivable is considered past due if the Company has not received payments based on agreed-upon terms.

Property and Equipment

Property and equipment

Property and equipment represents the costs of furniture and fixtures, office and computer equipment, and leasehold improvements. Property and equipment cost also includes any costs necessarily incurred to bring assets to the condition and location necessary for its intended use. Property and equipment are stated at cost, less accumulated depreciation and impairment losses. Depreciation is calculated

using declining balance method over the assets’ estimated useful lives as follows:


Assets		Useful lives
Office and electrical equipment		3-5 years
Computers		3 years
Furniture and fixtures		10 years

Leasehold improvements related to office facilities are depreciated over the shorter of the lease term or the estimated useful life of the improvement.

The Company reviews the remaining estimated useful lives of its property and equipment on an ongoing basis. Management is required to use judgment in determining the estimated useful lives of such assets. Changes in circumstances such as technological advances, changes to the Company’s business model, changes in the Company’s business strategy, or changes in the planned use of property and equipment could result in the actual useful lives differing from the Company’s current estimates. In cases where the Company determines that the estimated useful life of property and equipment should be shortened or extended, the Company would apply the new estimated useful life prospectively.

The Company reviews property and equipment for impairment when events or circumstances indicate the carrying amount may not be recoverable.

Costs of maintenance and repairs that do not improve or extend the lives of the respective assets are expensed as incurred. Upon retirement or sale, the cost and related accumulated depreciation are removed from the balance sheet and the resulting gain or loss is reflected in operating expenses.

Intangible Assets, Net (Including Intangibles under Development)

Intangible assets, net (including intangibles under development)

The Company capitalizes costs incurred on its internal-use software during the application development stage as intangibles under development. Costs related to preliminary project activities and post implementation activities are expensed as incurred. Once the developed software is available for intended use, capitalization ceases, and the Company estimates the useful life of the asset and begins amortization.

Internal-use software is amortized on a straight-line basis over its estimated useful life, which is generally three years and up to eleven.

The Company evaluates the useful lives of these assets on an annual basis and tests for impairment whenever events or changes in circumstances occur that could impact the recoverability of these assets.

Leases

The Company accounts for leases in accordance with Accounting Standards Codification (“ASC”) 842, “Leases” (“ASC 842”). The Company elected the “package of practical expedients,” which permits us not to reassess under ASC 842 our prior conclusions about lease identification, lease classification and initial direct costs. The Company made a policy election not to separate non-lease components from lease components, therefore, the Company accounts for lease and non-lease components as a single lease component. The Company also elected the short-term lease recognition exemption for all leases that qualify.

The Company determines if a contract contains a lease at inception of the arrangement based on whether the Company has the right to obtain substantially all of the economic benefits from the use of an identified asset and whether it has the right to direct the use of an identified asset in exchange for consideration, which relates to an asset which the Company does not own. Right of use (“ROU”) assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent its obligation to make lease payments arising from the lease. ROU assets are recognized as the lease liability, adjusted for lease incentives received. Lease liabilities are recognized at the present value of the future lease payments at the lease commencement date. The interest rate used to determine the present value of the future lease payments is the Company’s incremental borrowing rate (“IBR”), because the interest rate implicit in most of its leases is not readily determinable. The IBR is a hypothetical rate based on our understanding of what the Company’s credit rating would be to borrow and resulting interest it would pay to borrow an amount equal to the lease payments in a similar economic environment over the lease term on a collateralized basis. Lease payments may be fixed or variable; however, only fixed payments or in-substance fixed payments are included in the Company’s lease liability calculation. Variable lease payments may include costs such as common area maintenance, utilities, real estate taxes or other costs. Variable lease payments are recognized in operating expenses in the period in which the obligation for those payments are incurred.

Operating leases are included in operating lease ROU assets, short-term operating lease liabilities, current and long-term operating lease liabilities, non-current on the Company’s consolidated balance sheets. Finance leases are included in property and equipment, net, accrued and other current liabilities, and other long-term liabilities on the Company’s consolidated balance sheets. For operating leases, lease expense is recognized on a straight-line basis in operations over the lease term. For finance leases, lease expense is recognized as depreciation and interest; depreciation on a straight-line basis over the lease term and interest using the effective interest method.

Fair Value Measurements and Financial Instruments

Fair value measurements and financial instruments

The Company holds financial instruments that are measured and disclosed at fair value. Fair value is determined in accordance with a fair value hierarchy that prioritizes the inputs and assumptions used, and the valuation techniques used to measure fair value. The three levels of the fair value hierarchy are described as follows:


	Level 1 inputs:	Unadjusted quoted prices in active markets for identical assets or liabilities accessible to the reporting entity at the measurement date.

	Level 2 inputs:	Other than quoted prices included in Level 1 inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the asset or liability.

	Level 3 inputs:	Unobservable inputs for the asset or liability used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at measurement date.

The Company’s assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the valuation of fair value assets and liabilities and their placement within the fair value hierarchy levels. The Company establishes the fair value of its assets and liabilities using the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date and established a fair value hierarchy based on the inputs used to measure fair value. The recorded amounts of certain financial instruments, including cash and cash equivalents, restricted cash and cash equivalents, accounts receivable, accounts payable, and accrued expenses and other liabilities approximate fair value due to their relatively short maturities.

Business Combination

Business combination

The Company accounts for an acquisition as a business combination if the assets acquired and liabilities assumed in the transaction constitute a business in accordance with Accounting Standard Codification (“ASC”) Topic 805 "Business Combinations." Such acquisitions are accounted using the acquisition method i.e., by recognizing the identifiable tangible and intangible assets acquired and liabilities assumed, and any non-controlling interest in the acquired business, measured at their acquisition date fair values. Where the set of assets acquired and liabilities assumed do not constitute a business, it is accounted for as an asset acquisition where the individual assets and liabilities are recorded at their respective relative fair values corresponding to the consideration transferred.

Goodwill

Goodwill represents the excess of the purchase price over the fair value of net assets acquired in business acquisitions accounted for using the acquisition method of accounting and is not amortized. Goodwill is measured and tested for impairment on an annual basis in accordance with ASC 350, Intangibles - Goodwill and Other, or more frequently if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. Such events and changes may include: significant changes in performance related to expected operating results, significant changes in asset use, significant negative industry or economic trends, and changes in our business strategy.

The Company's test for goodwill impairment starts with a qualitative assessment to determine whether it is necessary to perform the quantitative goodwill impairment test. If qualitative factors indicate that the fair value of the reporting unit is more likely than not less than its carrying amount, then a quantitative goodwill impairment test is performed. For the purposes of impairment testing, the Company determined that it has only one reporting unit. The Company completed the annual impairment test and recognized goodwill impairment charges in the years ended March 31, 2023.

Foreign Currency

Foreign currency

The Company’s consolidated financial statements are reported in U.S. Dollars ("USD"), the Parent Company’s functional currency. The functional currency for the Company’s subsidiaries in India, is the Indian Rupee ("INR"), the functional currency of the Company's subsidiary in the United Kingdom is the British Pound Sterling ("GBP"). The translation of the functional currency of the Company’s subsidiaries into USD is performed for balance sheet accounts using the exchange rates in effect as of the balance sheet date and for revenues and expense accounts using an average exchange rate prevailing during the respective period. The gains or losses resulting from such translation are reported as currency translation adjustments ("CTA") under other comprehensive income/loss, or under accumulated other comprehensive income/loss as a separate component of equity.

Monetary assets and liabilities of the Company and its subsidiaries that are denominated in currencies other than the subsidiary’s functional currency are translated into their respective functional currency at the rates of exchange prevailing on the balance sheet date. Transactions of the Company and its subsidiaries that are denominated in currencies other than the subsidiary’s functional currency are translated into the respective functional currencies at the average exchange rate prevailing during the period of the transaction. The gains or losses resulting from foreign currency transactions are included in the consolidated statements of operations.

Employee Benefit Plans

Employee benefit plans

Contributions to defined contribution plans are charged to consolidated statements of operations in the period in which services are rendered by the covered employees. Current service costs for defined benefit plans are accrued in the period to which they relate. The liability from defined benefit plans is calculated annually by the Company using the projected unit credit method. Prior service cost, if any, resulting from an amendment to a plan is recognized and amortized over the remaining period of service of the covered employees.

The Company records annual amounts relating to its defined benefit plans based on calculations that incorporate various actuarial and other assumptions, including discount rates, mortality, future compensation increases and attrition rates. The Company reviews its assumptions on an annual basis and makes modifications to the assumptions based on current rates and trends when it is appropriate to do so. The effect of modifications to those assumptions is recorded in its entirety immediately. The Company believes that the assumptions utilized in recording its obligations under its plans are reasonable based on its experience and market conditions.

Inventories

Inventories are stated at the lower of cost and net realizable value. Cost is determined using the first-in, first-out method (FIFO) for all inventories.

Income Taxes

Income taxes

The Company accounts for income taxes using the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been recognized in the Company’s consolidated financial statements. In estimating future tax consequences, generally all expected future events other than enactments or changes in the tax law or rates are considered.

The Company accounts for uncertainty in tax positions recognized in the consolidated financial statements by recognizing a tax benefit from an uncertain tax position when it is more likely than not that the position will be sustained upon examination, including resolutions of any related appeals or litigation processes, based on the technical merits. Income tax positions must meet a more-likely-than-not recognition threshold at the effective date to be recognized.

Deferred tax assets and liabilities are recognized for future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their tax bases and for all operating loss and tax credit carryforwards, if any. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax laws or rates is recognized in the consolidated statement of income in the period that includes the enactment date. Deferred tax assets are reduced by a valuation allowance if, based on the weight of available evidence, it is more likely than not that some portion or all of the deferred tax assets will not be realized.

Future realization of deferred tax assets ultimately depends on the existence of sufficient taxable income of the appropriate character within the carryback or carryforward periods available under the applicable tax law.

The Company regularly reviews the deferred tax assets for recoverability based on historical taxable income, projected future taxable income, the expected timing of the reversals of existing temporary differences and tax planning strategies. The Company’s judgment regarding future profitability may change due to many factors, including future market conditions and the ability to successfully execute the business plans and/or tax planning strategies. Should there be a change in the ability to recover deferred tax assets, the Company’s income tax provision would increase or decrease in the period in which the assessment is changed.

Income/Loss per Share Attributable to Common Shareholders

Income/loss per share attributable to common shareholders

The Company computes net income (loss) per share using the two-class method required for participating securities. The two-class method requires income available to holders of Ordinary Share for the period to be allocated between Ordinary Shares and participating securities based upon their respective rights to receive dividends as if all income for the period had been distributed. For the reclassified periods prior to the Business Combination, the Roadzen (DE) convertible preferred stock is a participating security because holders of such shares have dividend rights in the event that a cash dividend was declared on the common stock of Roadzen (DE) at an amount equal to dividend paid on each share of Roadzen (DE) common stock. The convertible notes of Roadzen (DE) prior to the Business Combination and of the Company at and subsequent to the Business Combination are not considered participating securities. The holders of the convertible preferred stock in Roadzen (DE) prior to the Business Combination would have been would be entitled to dividends in preference to shareholders of Roadzen (DE) common stock, at specified rates, if declared. Then any remaining earnings would be distributed to the holders of Roadzen (DE) common stock and convertible preferred stock on a pro-rata basis assuming conversion of all convertible preferred stock into common stock of Roadzen (DE).

Basic net income/(loss) per share is calculated by dividing the net income/(loss) attributable to Ordinary Shares or, pre-Business Combination, common stock of Roadzen (DE) by the weighted-average number of Ordinary Shares or, pre-Business Combination, common stock of Roadzen (DE), outstanding during the period, without consideration of potentially dilutive securities. Diluted net income/(loss) per share is computed by dividing the net income/(loss) attributable to Ordinary Shares or, pre-Business Combination, common stock of Roadzen (DE), by the weighted-average number of Ordinary Shares or, pre-Business Combination, common stock of Roadzen (DE), and potentially dilutive securities that could have been outstanding for the period.

Investments

Equity securities

Equity investments with a readily determinable fair value, other than equity method investments, are measured at fair value with changes in fair value recognized in the consolidated statements of operations. Equity investments without a readily determinable fair value, are measured at cost, less any impairment.

Commitments and Contingencies

Commitments and contingencies

Liabilities for loss contingencies arising from claims, assessments, litigation, fines, and penalties and other sources are recorded when it is probable that a liability has been incurred and the amount can be reasonably estimated. Legal costs incurred in connection with loss contingencies are expensed as incurred. Recoveries of environmental remediation costs from third parties that are probable of realization are separately recorded as assets and are not offset against the related environmental liability.

Expenses

Set forth below is a brief description of the components of the Company’s expenses:

Sales, marketing and business development expense

This function includes expenses incurred directly or indirectly for selling and marketing a product or service and costs spent on/by personnel employed under the sales or marketing departments and share based compensation expenses. These expenses also include marketing efforts made by the Company to expand its market reach for distributing insurance policies. The expenses include advertisements through different mediums to reach end customers of insurance policies to enhance awareness and educate end customers.

ii.

General and administrative expenses

General and administrative expenses include personnel costs for corporate, finance, legal and other support staff, including bonus and share based compensation expenses, professional fees, allowance for doubtful accounts and other corporate expenses.

iii.

Research and development expense

Research and development expense consists of personnel costs incurred by the technology development team, subscription costs and other costs associated with ongoing improvements to and maintenance of internally developed software, share based compensation expenses and allocation of certain corporate costs.

Recently Issued Accounting Pronouncements and Not Yet Adopted

Recently issued accounting pronouncements and not yet adopted

The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act of 1933, as amended, (the “Securities Act”), as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). The JOBS Act provides that an emerging growth company can take advantage of an extended transition period for complying with new or revised accounting standards. Thus, an emerging growth company can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. The Company has elected to take advantage of the extended transition period to comply with new or revised accounting standards and to adopt certain of the reduced disclosure requirements available to emerging growth companies. As a result of the accounting standards election, the Company will not be subject to the same implementation timeline for new or revised accounting standards as other public companies that are not emerging growth companies which may make comparison of the Company’s financial statements to those of other public companies more difficult.

In August 2020, the FASB issued ASU No. 2020-06, “Debt-Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity's Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity's Own Equity," which signifies the accounting for certain financial instruments with characteristics of liability and equity, including convertible instruments and contracts on an entity's own equity. The standard reduces the number of models used to account for convertible instruments, removes certain settlement conditions that are required for equity contracts to qualify for the derivative scope exception, and requires the if-converted method for calculation of diluted earnings per share for all convertible instruments. The ASU is effective for the Company for fiscal years, and interim periods within those fiscal years, beginning on or after December 15, 2023. Early adoption is permitted but no earlier than fiscal years beginning after December 15, 2020. The Company is currently evaluating the impact of this accounting standard update on its consolidated financial statements.

ii.

In October 2021, the FASB issued ASU No. 2021-08, Accounting for Contract Assets and Contract Liabilities from Contracts with Customers (Topic 805). This ASU requires an acquirer in a business combination to recognize and measure contract assets and contract liabilities (deferred revenue) from acquired contracts using the revenue recognition guidance in Topic 606. At the acquisition date, the acquirer applies the revenue model as if it had originated the acquired contracts. The ASU is effective for annual periods beginning after December 15, 2022, including interim periods within those fiscal years. Adoption of the ASU should be applied prospectively. Early adoption is also permitted, including adoption in an interim period. If early adopted, the amendments are applied retrospectively to all business combinations for which the acquisition date occurred during the fiscal year of adoption. The Company is currently evaluating the impact of this accounting standard update on its consolidated financial statements.

Recent Accounting Pronouncements - Accounting Standards Adopted

In June 2016, the FASB issued ASU 2016-13, Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. ASU 2016-13 requires measurement and recognition of expected credit losses for financial assets by requiring an allowance to be recorded as an offset to the amortized cost of such assets. The standard primarily impacts the amortized cost of the Company's available-for-sale debt securities. The Company adopted this standard, which did not result in a material impact on its consolidated financial statements.

Revenue - Summary of Contract Liabilities from Contract with Customers (Details) - USD ($)	Dec. 31, 2023	Mar. 31, 2023
Contract liabilities
Deferred revenue	$ 1,423,827	$ 108,442
Total contract liabilities	1,423,827	108,442
Contract assets
Unbilled revenue	2,134,765	868,382
Total contract assets	$ 2,134,765	$ 868,382

Other Current Liabilities - Additional Information (Details) - USD ($)	9 Months Ended		12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Mar. 31, 2023
Business Acquisition [Line Items]
Consideration payable in connection with acquisitions	$ 1,850,384	$ 602,093
Fair valuation of warrants	22,369,638	$ 1,009,374
Mizuho
Business Acquisition [Line Items]
Fair valuation of warrants	$ 2,932,180
Warrants exercisable price	$ 0.001
Peoplebay Consultancy Services Private Limited and FA Events and Media Private Limited
Business Acquisition [Line Items]
Consideration payable in connection with acquisitions			$ 243,036
FA Premium Insurance Broking Private Limited, National Automobile Club, Peoplebay Consultancy Services Private Limited and FA Events and Media Private Limited
Business Acquisition [Line Items]
Consideration payable in connection with acquisitions	$ 1,850,384

Other Long Term Assets

9 Months Ended

Dec. 31, 2023

Other Assets, Noncurrent [Abstract]

Other Long Term Assets

10. Other long-term assets


	As of December 31, 2023		As of March 31, 2023
Deposits		21,993		25,890
Advances		140,055		-
Interest accrued		13,591		9,249
Deferred tax assets (refer note 25)		160,309		82,345
		335,948		117,484

Net Loss Per Share (Tables)

9 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

Schedule of Computation Of Basic Net Loss Per Share Attributable To Ordinary Shareholders And Preferred Stock Holders

The following table sets forth the computation of basic net loss per share attributable to ordinary shareholders and preferred stock holders:


Particulars	For the three months ended December 31, 2023			For the three months ended December 31, 2022		For the nine months ended December 31, 2023			For the nine months ended December 31, 2022
Numerator:
Net loss		(30,569,619	)		477,429		(65,690,663	)		(9,529,872	)
Less: dividend attributable to preferred stockholders for the current year		-			27,742		-			53,956
Net loss attributable to Roadzen Inc. ordinary shareholders		(30,569,619	)		449,687		(65,690,663	)		(9,583,828	)
Denominator:
Weighted-average shares used in computing net loss per share attributable to Roadzen Inc. ordinary shareholders - basic and diluted		68,440,829			16,501,984		36,144,311			16,501,984
Net loss per share attributable to Roadzen Inc. ordinary shareholders - basic and diluted		(0.45	)		0.03		(1.82	)		(0.58	)

Schedule of Potential Ordinary Shares Equivalents Excluded From The Computation Of Diluted Net Loss Per Share

The following table summarizes the number of potential Ordinary Shares equivalents that were excluded from the computation of diluted net loss per share attributable to ordinary shareholders for the periods presented:


Particulars	For the nine months ended December 31, 2023		For the nine months ended December 31, 2022
Share warrants		20,211,506		51,893
Restricted stock units		9,903,480		-
Convertible instruments		7,012		10,524,888
Preferred stock		—		28,468,541
Total		30,121,998		39,045,322

Recapitalization - Summary of Number of Roadzen (DE) Shares (Details)	9 Months Ended
	Dec. 31, 2023 shares
Restructuring Cost and Reserve [Line Items]
Roadzen (DE) Common stock	2,145,991
Ordinary Shares issued to shareholders of Roadzen (DE)	58,396,520
Convertible Preferred Stock [Member]
Restructuring Cost and Reserve [Line Items]
Roadzen (DE) Common stock	1,539,566
Ordinary Shares issued to shareholders of Roadzen (DE)	41,894,536
Ordinary Share [Member]
Restructuring Cost and Reserve [Line Items]
Roadzen (DE) Common stock	606,425
Ordinary Shares issued to shareholders of Roadzen (DE)	16,501,984

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Cash, Cash Equivalents and Restricted Cash (Tables)

9 Months Ended

Dec. 31, 2023

Cash and Cash Equivalents [Abstract]

Schedule of Cash, Cash Equivalents and Restricted Cash


	As of December 31, 2023		As of March 31, 2023
Balances with banks
In current accounts		9,402,795		588,347
Cash in hand		3,902		993
		9,406,697		589,340

Restricted cash and cash equivalents (non - current)		427,697		542,490

Accounts Payable and Accrued Expenses

9 Months Ended

Dec. 31, 2023

Payables and Accruals [Abstract]

Accounts Payable and Accrued Expenses

11. Accounts payable and accrued expenses


	As of December 31, 2023		As of March 31, 2023
Accounts payable		24,313,674		2,008,731
Accrued expenses		5,240,132		3,575,445
Amounts due to employees		1,029,049		656,890
		30,582,855		6,241,066

As the accounting acquirer, Roadzen (DE) is deemed to have assumed certain accounts payables obtained in connection with the Business Combination amounting to $17,630,434 due to transaction costs in consummating the Business Combination.

Amount due to employees consists of reimbursements and salaries payable. The total includes related parties balance of $91,879 and $45,162 as of December 31, 2023 and as of March 31, 2023, respectively.

Revenue

9 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

Revenue

18. Revenue

The following table summarizes revenue by the Company's service offerings:


	For the three months ended December 31, 2023		For the three months ended December 31, 2022		For the nine months ended December 31, 2023		For the nine months ended December 31, 2022
Revenue from services
Commission and Distribution Income		8,157,336		2,785,167		17,617,282		6,804,247
Income from Insurance as a Service		7,484,105		531,478		19,105,650		1,750,146
		15,641,441		3,316,645		36,722,932		8,554,393

There was one customer that individually represented 33% of the Company’s revenue for the three months ended December 31, 2023 and one customer that individually represented 30% of the Company’s revenue for the three months ended December 31, 2022

Contract balances

The following table provides information about receivables and contract liabilities from contracts with customers:


	As of December 31, 2023		As of March 31, 2023
Contract liabilities
Deferred revenue		1,423,827		108,442
Total contract liabilities		1,423,827		108,442
Contract assets
Unbilled revenue		2,134,765		868,382
Total contract assets		2,134,765		868,382

The Company records deferred revenue when cash payments are received or due in advance of Company's performance. Deferred revenue primarily relate to commission and distribution income and insurance as a service. The amount of revenue recognized for the period ended December 31, 2023 that was included in the deferred revenue balance as of March 31, 2023 was $108,442. The amount of revenue recognized in the year ended March 31, 2023 that was included in the deferred revenue balance as of March 31, 2022 was $292,031. The Company's remaining performance obligations in contracts with customers will be completed within 12 months from the reporting date.

Contract assets represent a conditional right to consideration for satisfied performance obligations that become a receivable when the conditions are satisfied. Contract assets are generated when contractual billing schedules differ from the timing of revenue recognition or cash collection and are included in "prepayments and other current assets" in the consolidated balance sheets which will be billed in the month subsequent to the period in which performance obligations were satisfied.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org//606/tableOfContent

+ Details

Other Current Liabilities (Tables)

9 Months Ended

Dec. 31, 2023

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Schedule of Other Current Liabilities

Other current liabilities consist of the following:


	As of December 31, 2023		As of March 31, 2023
Statutory liabilities		1,499,260		1,417,751
Deferred revenue		1,423,827		108,442
Advances from customers		188,383		52,227
Provision for income tax		83,079		83,054
Retirement benefits		3,008		3,008
Other payables		5,539,707		839,411
		8,737,264		2,503,893

Summary Of Obliged To Issue Warrants Shares

As per the agreement entered into, if the principal and interest payments are not made as per the repayment schedule, the Company is obliged to issue warrants in the following sequence:


Milestone (days past due)	Warrants Shares based on fully diluted Ordinary Shares of the Company as of the issuance date
180 days		1.00	%
210 days		1.17	%
240 days		1.33	%
270 days		1.50	%
300 days		1.67	%
330 days		1.83	%
360 days		2.50	%

Schedule of Assumptions Used In Calculating Estimated Fair Value Of Warrants Due

Assumptions used in calculating estimated fair value of Forward Purchase Agreement as of December 31, 2023 is as follows:


Volatility		62.80	%
Risk-free rate		3.88	%
Dividend yield		0.00	%
Strike price	10.77
Remaining term (years)	1.25 years

Warrants

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Schedule of Assumptions Used In Calculating Estimated Fair Value Of Warrants Due

A comparison of the assumptions used in calculating estimated fair value of warrants due as of December 31, 2023 is as follows:



Closing price	$	5.09
Risk Free rate		3.87	%
Dividend Yield		0	%
Volatility		41.55	%
Expected Life of the option	5 years

Borrowings - Schedule of Short Term Borrowings (Details) - USD ($)	Dec. 31, 2023	Mar. 31, 2023
Debt Disclosure [Abstract]
Loans from banks (note a)	$ 1,901,497	$ 84,587
Loans from related parties	299,031	485,747
Loans from others (note b)	12,965,327	4,305,467
Short term borrowings	$ 15,165,855	$ 4,875,801

Other Current Liabilities - Schedule of Other Current Liabilities (Details) - USD ($)	Dec. 31, 2023	Mar. 31, 2023
Other Liabilities, Current [Abstract]
Statutory liabilities	$ 1,499,260	$ 1,417,751
Deferred revenue	1,423,827	108,442
Advance from customers	188,383	52,227
Provision for income tax	83,079	83,054
Retirements benefits	3,008	3,008
Other payables	5,539,707	839,411
Other current liabilities	$ 8,737,264	$ 2,503,893

Business Combinations - Schedule of Purchase Price Allocated to Intangible Assets Acquired (Details) - USD ($)	Jul. 01, 2023	Jun. 30, 2023	Jun. 06, 2023
Global Insurance Management Limited
Business Acquisition [Line Items]
Acquired customer contracts, Amount		$ 1,157,920
Acquired customer contracts, Weighted average life		3 years
National Automobile Club
Business Acquisition [Line Items]
Acquired customer contracts, Amount			$ 870,027
Acquired customer contracts, Weighted average life			3 years
FA Premium Insurance Broking Private Limited \| Distribution network
Business Acquisition [Line Items]
Acquired customer contracts, Amount	$ 814,365
Acquired customer contracts, Weighted average life	3 years
FA Premium Insurance Broking Private Limited \| Customer contracts
Business Acquisition [Line Items]
Acquired customer contracts, Amount	$ 20,345
Acquired customer contracts, Weighted average life	3 years

Prepayments and Other Current Assets - Schedule of Prepayments and Other Current Assets (Parenthetical) (Details) - USD ($)	Dec. 31, 2023	Mar. 31, 2023
Prepaid Expense And Other Assets Current [Line Item]
Net of doubtful advances	$ 229,229	$ 225,495
Advances to suppliers	2,733,380	826,057
Advances to suppliers include related party	76,507	0
Advances to employees	144,252	55,753
Advances to employees include related party	9,798	28,516
Loans and advances to related parties	$ 344,914	$ 0

Revenue - Additional Information (Details)			3 Months Ended
Revenue - Additional Information (Details)	Mar. 31, 2023 USD ($)	Mar. 31, 2022 USD ($)	Dec. 31, 2023 Customer	Dec. 31, 2022 Customer
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Number of customers with more than threshold revenue percentage \| Customer			1	1
Revenue recognized \| $	$ 108,442	$ 292,031
Customer One [Member] \| Customer Concentration [Member] \| Revenue [Member]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Company revenue percentage			33.00%	30.00%

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income after deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References + Details

Net Loss Per Share - Schedule of Computation of Basic Net Loss Per Share Attributable to Ordinary Shareholders and Preferred Stock Holders (Details) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Numerator:
Net loss	$ (30,569,619)	$ 477,429	$ (65,690,663)	$ (9,529,872)
Less: dividend attributable to preferred stockholders for the current year		27,742		53,956
Net income (loss) attributable to Roadzen, Inc. ordinary shareholders	$ (30,569,619)	$ 449,687	$ (65,690,663)	$ (9,583,828)
Denominator:
Weighted-average shares used in computing net loss per share attributable to Roadzen, Inc. ordinary shareholders - basic	68,440,829	16,501,984	36,144,311	16,501,984
Weighted-average shares used in computing net loss per share attributable to Roadzen, Inc. ordinary shareholders - diluted	68,440,829	16,501,984	36,144,311	16,501,984
Net loss per share attributable to Roadzen, Inc. ordinary shareholders - basic	$ (0.45)	$ 0.03	$ (1.82)	$ (0.58)
Net loss per share attributable to Roadzen, Inc. ordinary shareholders - diluted	$ (0.45)	$ 0.03	$ (1.82)	$ (0.58)

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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-Paragraph 1
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-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

+ Details

- Definition

Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
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-URI https://asc.fasb.org//1943274/2147483443/250-10-50-3

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147482689/260-10-45-11

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-60B

+ Details

Property and Equipment, Net (Tables)

9 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Schedule of Property Plant and Equipment, Net

The components of property and equipment, net were as follows:


	As of December 31, 2023			As of March 31, 2023
Computers		648,120			370,516
Office equipment		440,230			153,432
Furniture & fixtures		198,364			69,338
Electrical equipment		30,983			6,312
Leasehold improvements		31,772			21,381
Total		1,349,469			620,979
Less: accumulated depreciation		(824,985	)		(388,486	)
Property and equipment, net		524,484			232,493

Intangible Assets, Net - Additional Information (Details)	12 Months Ended
	Mar. 31, 2023 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Impairment charge	$ 254,614
CTA impact	$ 9,915

Stock Based Compensation - Schedule of Stock Option Activity (Details)	9 Months Ended
	Dec. 31, 2023 shares
Share-Based Payment Arrangement [Abstract]
Granted	9,903,480
Closing unvested units	9,903,480

Accounts Receivables, Net - Summary of Accounts Receivables (Details) - USD ($)	Dec. 31, 2023	Sep. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022
Receivables [Abstract]
Accounts receivable		$ 7,405,068	$ 1,549,711
Less: allowance for credit losses	$ (262,444)	(262,444)	(13,726)	$ (13,726)	$ (14,884)
Accounts receivable, net		$ 7,142,624	$ 1,535,985

Other Long-Term Liabilities (Tables)

9 Months Ended

Dec. 31, 2023

Other Liabilities Disclosure [Abstract]

Summary of Other Long-Term Liabilities


	As of December 31, 2023		As of March 31, 2023
Retirement benefits		399,510		294,301
Deferred tax liability		523,462		—
		922,972		294,301

Borrowings - Schedule of Long Term Borrowings (Details) - USD ($)	Dec. 31, 2023	Mar. 31, 2023
Debt Disclosure [Abstract]
Secured debentures (note a)	$ 2,260,838	$ 3,198,569
Loans from banks (note b)	337,561	307,228
Convertible debenture (note c)	403,167	0
Less: current portion of long-term borrowings	(2,393,383)	(2,852,528)
Long term borrowings	$ 608,183	$ 653,269

Borrowings - Summary of Loans from Banks and Others (Details)	Dec. 31, 2023
Debt Disclosure [Abstract]
Short term borrowings from banks and others, weighted average borrowing rate	12.73%

Consolidated Statements of Cash Flow - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
Consolidated Statements of Cash Flow - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Mar. 31, 2023
Cash flows from operating activities
Net loss including non controlling interest	$ (30,610,414)	$ 394,507	$ (65,798,667)	$ (9,691,963)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	451,773	521,544	1,232,626	1,293,803
Stock based compensation			30,779,664	0
Deferred income taxes			36,283	(42,729)
Unrealised foreign exchange loss/(profit)			628,435	8,417
Fair value losses in financial instruments carried at fair value			22,369,638	1,009,374
Gain on fair valuation of investments			(1,812)	0
Gain on sale of property and equipment			0	(495)
Expected credit loss (net of reversal)			208,264	0
Lease equalisation reserve			0	14,676
Balances written off/(back)			0	209
Changes in assets and liabilities, net of assets acquired and liabilities assumed from acquisitions:
Inventories			30,013	(29,079)
Income taxes, net			19,286	109,680
Accounts receivables, net			2,412,838	(170,992)
Prepayments and other assets			(24,935,177)	(1,290,384)
Accounts payable and accrued expenses and other current liabilities			19,656,629	1,730,544
Other liabilities			(1,219,411)	87,564
Net cash used in operating activities			(14,581,391)	(6,971,375)
Cash flows from investing activities
Purchase of property and equipment, intangible assets and goodwill			(423,575)	(326,972)
Proceeds from sale of property, plant and equipment			0	1,096
Acquisition of businesses			(5,749,202)	0
Investment in mutual funds			(500,000)	0
Net cash used in investing activities			(6,672,777)	(325,876)
Cash flows from financing activities
Proceeds from business combination			32,770	0
Proceeds from issue of preferred stock			6,079,409	0
Proceeds from long-term borrowings			2,806,638	4,357,544
Repayments of long-term borrowings			(1,025,884)	(685,659)
Net proceeds/(payments) from short-term borrowings			10,702,721	4,573,698
Net cash generated from financing activities			18,595,654	8,245,583
Effect of exchange rate changes on cash and cash equivalents			108,532	(109,747)
Net (decrease)/increase in cash and cash equivalents (including restricted cash)			(2,549,982)	838,585
Cash acquired in business combination			11,252,546	0
Cash and cash equivalents at the beginning of the period (including restricted cash)			1,131,830	1,086,418	$ 1,086,418
Cash and cash equivalents at the end of the period (including restricted cash)	9,834,394	1,925,003	9,834,394	1,925,003	1,131,830
Reconciliation of cash and cash equivalents
Cash and cash equivalents	9,406,697	1,283,615	9,406,697	1,283,615	589,340
Restricted cash	427,697	641,388	427,697	641,388	542,490
Total cash and cash equivalents	$ 9,834,394	$ 1,925,003	9,834,394	1,925,003	$ 1,131,830
Supplemental disclosure of cash flow information
Cash paid for interest, net of amounts capitalized			174,934	281,944
Cash paid for income taxes, net of refunds			0	22,115
Non-cash investing and financing activities
Convertible preferred stock issued on conversion of convertible notes			0	6,441,014
Consideration payable in connection with acquisitions			1,850,384	602,093
Interest accrued on borrowings			$ 451,805	$ 0

Accounts Payable and Accrued Expenses (Tables)

9 Months Ended

Dec. 31, 2023

Payables and Accruals [Abstract]

Schedule of Accounts Payable and Accrued Expenses


	As of December 31, 2023		As of March 31, 2023
Accounts payable		24,313,674		2,008,731
Accrued expenses		5,240,132		3,575,445
Amounts due to employees		1,029,049		656,890
		30,582,855		6,241,066

Property and Equipment, Net

9 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Property and Equipment, Net

8. Property and equipment, net

The components of property and equipment, net were as follows:


	As of December 31, 2023			As of March 31, 2023
Computers		648,120			370,516
Office equipment		440,230			153,432
Furniture & fixtures		198,364			69,338
Electrical equipment		30,983			6,312
Leasehold improvements		31,772			21,381
Total		1,349,469			620,979
Less: accumulated depreciation		(824,985	)		(388,486	)
Property and equipment, net		524,484			232,493

The Company capitalized $728,490 (net of disposal and CTA impact of $0 and $(1,478), respectively) and $59,568 (net of disposal and CTA impact of $137,230 and $43,496, respectively) for the periods ended December 31, 2023 and as of March 31, 2023, respectively out of which $396,123 is related to acquisitions of FA Premium Insurance Broking Pvt. Ltd., Global Insurance Management Limited and National Automobile Club. The Company capitalized $20,463 and $115,383 towards computers for the periods ended December 31, 2023 and March 31, 2023, respectively. Depreciation expense relating to property and equipment amounted to $171,268 and $145,614 for the periods ended December 31, 2023 and for March 31, 2023 respectively out of which $45,392 and $97,996 relate to computer for the periods ended December 31, 2023 and March 31, 2023, respectively.

Other Long-Term Assets - Schedule of Other Long-Term Assets (Details) - USD ($)	Dec. 31, 2023	Mar. 31, 2023
Other Assets, Noncurrent [Abstract]
Deposits	$ 21,993	$ 25,890
Advances	140,055
Interest accrued	13,591	9,249
Deferred tax assets (refer note 25)	160,309	82,345
Total	$ 335,948	$ 117,484

Intangible Assets, Net (Tables)

6 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Finite-Lived Intangible Assets


	As of December 31, 2023			As of March 31, 2023
Software for internal use		9,407,431			7,292,101
Customer contracts - (refer note 19)		2,728,118			682,399
Distribution network - (refer note 19)		802,730			-
Intangible assets under development		344,577			196,174
Intellectual property		110,799			112,176
Trademark		54			55
Total		13,393,709			8,282,905
Less: accumulated depreciation and amortization		(8,654,379	)		(5,569,048	)
Less: impairment loss		(241,694	)		(244,699	)
Intangible assets, net		4,497,636			2,469,158

Schedule of Estimated Amortization of The Company's Intangible Assets for Future Periods

The estimated amortization schedule for the Company’s intangible assets for future periods is set out below:


For Period Ended December 31:	Amount
2024		1,546,500
2025		1,268,848
2026		952,276
2027		385,435

Property and Equipment, Net - Additional Information (Details) - USD ($)	9 Months Ended		12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Mar. 31, 2023
Property, Plant and Equipment [Line Items]
Capitalized amount	$ 728,490		$ 59,568
Cumulative translation adjustment of captilized asset	0	$ (1,478)	43,496
Company capitalized towards computer	20,463		115,383
Capitalized computer net of disposal			137,230
Property, Plant and Equipment [Member]
Property, Plant and Equipment [Line Items]
Depreciation expenses	171,268		145,614
FA Premium Insurance Broking Pvt. Ltd [Member]
Property, Plant and Equipment [Line Items]
Company capitalized towards computer	396,123
Computers [Member]
Property, Plant and Equipment [Line Items]
Depreciation expenses	$ 45,392		$ 97,996

Other Current Liabilities - Schedule of Assumptions Used In Calculating Estimated Fair Value Of Warrants Due (Details)	Dec. 31, 2023
Closing price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants and Rights Outstanding, Measurement Input	5.09
Risk-free rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants and Rights Outstanding, Measurement Input	3.87
Dividend yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants and Rights Outstanding, Measurement Input	0
Volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants and Rights Outstanding, Measurement Input	41.55
Expected Life of the option
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants and Rights Outstanding, Term	5 years

Warrants

9 Months Ended

Dec. 31, 2023

Warrant Liability [Abstract]

Warrants

17. Warrants

Vahanna's 10,004,994 Public Warrants and 9,152,087 Private Placement Warrants remained outstanding and became warrants to purchase Ordinary Shares in the Company upon the close of the Business Combination.

As of December 31, 2023, there were 10,004,994 Public Warrants outstanding. No fractional shares will be issued upon exercise of the Public Warrants. Each whole warrant entitles the registered holder to purchase one Ordinary Share at a price of $11.50 per share. The Public Warrants became exercisable as of October 20, 2023. The Public Warrants will expire five years from the consummation of the Business Combination or earlier upon redemption or liquidation.

The Company may redeem the outstanding warrants:

•

at a price of $0.01 per warrant;

•

upon not less than 30 days’ prior written notice of redemption given after the warrants become exercisable (the “30-day redemption period”) to each warrant holder; and

•

if, and only if, the reported last sale price of the Ordinary Shares equals or exceeds $18.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within a 30-trading day period commencing once the warrants become exercisable and ending three business days before the Company sends the notice of redemption to the warrant holders.

If the Company calls the Public Warrants for redemption, as described above, its management will have the option to require any holder that wishes to exercise the Public Warrants to do so on a “cashless basis,” as described in the warrant agreement. The exercise price and number of Ordinary Shares issuable upon exercise of the Public Warrants may be adjusted in certain circumstances including in the event of a share dividend, extraordinary dividend or recapitalization, reorganization, merger or consolidation. However, except as described below, the Public Warrants will not be adjusted for issuances of Ordinary Shares at a price below its exercise price. Additionally, in no event will the Company be required to net cash settle the Public Warrants.

As of December 31, 2023, there were 9,152,087 Private Placement Warrants outstanding. The Private Placement Warrants are identical to the Public Warrants, except that the Private Placement Warrants and the Ordinary Shares issuable upon the exercise of the Private Placement Warrants were not transferable, assignable or saleable until 30 days after the completion of the Business Combination, subject to certain limited exceptions.

Borrowings - Schedule of Secured Debentures (Details) - USD ($)	9 Months Ended
	Dec. 31, 2023	Mar. 31, 2023
Debt Instrument [Line Items]
Amount outstanding	$ 2,260,838	$ 3,198,569
19.50% due on 31-May-24
Debt Instrument [Line Items]
Interest rate	19.50%
Maturity date	May 31, 2024
Amount outstanding	$ 597,282
19.50% due on 31-Jul-24
Debt Instrument [Line Items]
Interest rate	19.50%
Maturity date	Jul. 31, 2024
Amount outstanding	$ 337,951
19.25% due on 31-May-24
Debt Instrument [Line Items]
Interest rate	19.25%
Maturity date	May 31, 2024
Amount outstanding	$ 424,509
20.00% due on 31-Jan-24
Debt Instrument [Line Items]
Interest rate	20.00%
Maturity date	Jan. 31, 2024
Amount outstanding	$ 901,096

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482900/835-30-50-1

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1E
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

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-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

Borrowings (Tables)

9 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Schedule of Long Term Borrowings

Long-term borrowings consist of the following:


	As of December 31, 2023			As of March 31, 2023
Secured debentures (note a)		2,260,838			3,198,569
Loans from banks (note b)		337,561			307,228
Convertible debenture (note c)		403,167			-
Less: current portion of long-term borrowings		(2,393,383	)		(2,852,528	)
		608,183			653,269

Schedule of Secured Debentures

Secured debentures:


Particulars	Interest rate			Maturity date	Amount outstanding
Secured debentures		19.50	%	31-May-24		597,282
		19.50	%	31-Jul-24		337,951
		19.25	%	31-May-24		424,509
		20.00	%	31-Jan-24		901,096
						2,260,838

Schedule of Loans from Banks

Loans from banks:


Particulars	Interest rate	Maturity date	Amount outstanding
Long-term borrowings from banks
	16.00%	5-Mar-24		2,321
	16.50%	5-Mar-24		2,906
	15.50%	6-Sep-25		19,179
	18.00%	5-Sep-25		19,438
	16.00%	9-Apr-24		10,005
	18.50%	2-Nov-25		16,095
	19.50%	2-Oct-25		12,288
	15.50%	6-Sep-25		19,179
	14.75%	5-Jun-24		7,627
	17.00%	5-Oct-24		13,637
	15.85%	4-May-26		44,373
	8.75%	10-Aug-30		115,619
	15.75%	5-Aug-26		54,894
				337,561

Schedule of Maturities of Long-term Borrowings Excluding Convertible Notes

As of December 31, 2023, the aggregate maturities of long-term borrowings (excluding convertible notes) are as follows:


Period ending March 31, 2024								2,298,943
Period ending March 31, 2025								117,270
Period ending March 31, 2026 and onwards								585,353
								3,001,566

Schedule of Short Term Borrowings

Short-term borrowings


	As of December 31, 2023		As of March 31, 2023
Loans from banks (note a)		1,901,497		84,587
Loans from related parties		299,031		485,747
Loans from others (note b)		12,965,327		4,305,467
		15,165,855		4,875,801

Summary of Loans from Banks and Others

Loans from banks and others


Particulars	Weighted average borrowing rate
Short-term borrowings from banks and others		12.73	%

Summary of Estimated Fair Value of Working Capital Loan

Since the Warrants are listed under ticker symbol RDZNW, the market price method was used to compute the fair market value of the warrants resulting from the conversion of the convertible promissory note on the reporting date. A comparison of the assumptions used in calculating estimated fair value of working capital loan as of December 31, 2023 is as follows:



Closing price	$	0.07
Open price	$	0.07
High	$	0.07
Low	$	0.07

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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+ Details

Prepayments and Other Current Assets

9 Months Ended

Dec. 31, 2023

Prepaid Expense and Other Assets, Current [Abstract]

Prepayments and Other Current Assets

6. Prepayments and other current assets


	As of December 31, 2023		As of March 31, 2023

Balance with statutory authorities		1,239,594		1,189,787
Unbilled revenue		2,134,765		868,382
Advances given (net of doubtful advances of $229,229 as of December 31, 2023 and $225,495 as of March 31, 2023)		3,246,326		922,380
Other receivables		2,918,159		126,928
Prepayments		1,771,555		22,091
Forward purchase agreement		24,462,103		—
Deposits		74,953		52,368
		35,847,455		3,181,936

i) Advances given include:

$2,733,380 and $826,057 of advances to suppliers as of December 31, 2023 and March 31, 2023, respectively. Advances to suppliers include related party balance of $76,507 and $0 as of December 31, 2023 and March 31, 2023 respectively.

$144,252 and $55,753 of advances to employees as of December 31, 2023 and March 31, 2023, respectively. Advances to employees include related party balances of $9,798 and $28,516 as of December 31, 2023 and as of March 31, 2023.

$344,914 and $0 of loans and advances to related parties as of December 31, 2023 and March 31, 2023, respectively.

ii) 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.

The Forward Purchase Agreement represents the recognition of the cash payments to the Seller of $46.1 million (including prepayment of $46 million and the reimbursable transaction cost of $0.1 million) and the Forward Purchase Agreement with regard to 4,297,745 shares (recycled shares) and 702,255 shares (FPA subscription shares). The fair value of the Forward Purchase Agreement is comprised of the Prepayment Amount ($46.1 million) and is reduced by the economics of the downside provided to the Sellers ($23.5 million) and the estimated consideration payment at the Cash Settlement Payment Date ($22.6 million). The Forward Purchase Agreement will be remeasured at fair value with changes in earnings in the future periods. Forward Purchase Agreements are treated as a Financial Instrument and revalued at each reporting date with the corresponding earnings (loss) reflected in the consolidated statements of operations as a change in fair value of Forward Purchase Agreement.

During the three months ended December 31, 2023, an amount of $2,290,633 was received from the Seller and accordingly the value of Forward Purchase Agreement was adjusted. Further, on account of fair valuation of the Forward Purchase Asset as of December 31, 2023, a gain of $4,152,541 was recorded.

Assumptions used in calculating estimated fair value of Forward Purchase Agreement as of December 31, 2023 is as follows:


Volatility		62.80	%
Risk-free rate		3.88	%
Dividend yield		0.00	%
Strike price	10.77
Remaining term (years)	1.25 years

Mezzanine Equity - Additional Information (Details) - shares	Dec. 31, 2023	Mar. 31, 2023
Temporary Equity [Line Items]
Redeemable convertible preferred stock, Shares issued		1,465,100
Redeemable convertible preferred stock, Shares outstanding		1,465,100
Ordinary Shares
Temporary Equity [Line Items]
Convertible Preferred Stock, Shares Issued upon Conversion	41,894,536
Redeemable convertible preferred stock
Temporary Equity [Line Items]
Redeemable convertible preferred stock, Shares issued	1,539,566
Redeemable convertible preferred stock, Shares outstanding	1,539,566
Convertible Preferred Stock
Temporary Equity [Line Items]
Redeemable convertible preferred stock, Shares outstanding	0

Intangible Assets, Net

9 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets, Net

9. Intangible assets, net


	As of December 31, 2023			As of March 31, 2023
Software for internal use		9,407,431			7,292,101
Customer contracts - (refer note 19)		2,728,118			682,399
Distribution network - (refer note 19)		802,730			-
Intangible assets under development		344,577			196,174
Intellectual property		110,799			112,176
Trademark		54			55
Total		13,393,709			8,282,905
Less: accumulated depreciation and amortization		(8,654,379	)		(5,569,048	)
Less: impairment loss		(241,694	)		(244,699	)
Intangible assets, net		4,497,636			2,469,158

In the coming years, the Company has decided to shift its focus more on insurance distribution services rather than engaging into insurance support services. Due to the change in the business strategy, it was more likely than not that the carrying value of the distribution entities exceeded its fair value. As a result, the Company performed an impairment assessment by comparing the fair value of the affected entities (FA Events and Media Private Limited, Peoplebay Consultancy Services Private Limited, Kintsugi Innovation Labs Private Limited) to its carrying value. Fair value was determined by using DCF (discounted cashflow method) which is a level 3 measurement. The carrying value of the affected entities exceeded its fair value and as a result, an impairment charge of $254,614 (including CTA impact of $9,915) was recorded in consolidated statements of operations under the head "Impairment of goodwill and intangibles with definite life" for the year ended March 31, 2023.

The Company performed qualitative assessement for other intangible assets and indicated that it was more likely than not that the fair value of the acquired entities exceeded its carrying value, therefore, did not result in an impairment.

The estimated amortization schedule for the Company’s intangible assets for future periods is set out below:


For Period Ended December 31:	Amount
2024		1,546,500
2025		1,268,848
2026		952,276
2027		385,435

Mezzanine Equity - Summary of Redeemable Convertible Preferred Stock (Details)	Mar. 31, 2023 USD ($) $ / shares shares
Temporary Equity [Line Items]
Redeemable convertible preferred stock, Shares issued \| shares	1,465,100
Redeemable convertible preferred stock, Shares outstanding \| shares	1,465,100
Redeemable convertible preferred stock, Aggregate conversion amount \| $	$ 1,997,650
Redeemable convertible preferred stock, Carrying value \| $	$ 48,274,279
Series A
Temporary Equity [Line Items]
Redeemable convertible preferred stock, Shares issued \| shares	200,000
Redeemable convertible preferred stock, Shares outstanding \| shares	200,000
Redeemable convertible preferred stock, Per share original issue price \| $ / shares	$ 0.5
Redeemable convertible preferred stock, Aggregate conversion amount \| $	$ 100,000
Redeemable convertible preferred stock, Carrying value \| $	$ 100,000
Series A1
Temporary Equity [Line Items]
Redeemable convertible preferred stock, Shares issued \| shares	1,265,100
Redeemable convertible preferred stock, Shares outstanding \| shares	1,265,100
Redeemable convertible preferred stock, Per share original issue price \| $ / shares	$ 1.5
Redeemable convertible preferred stock, Aggregate conversion amount \| $	$ 1,897,650
Redeemable convertible preferred stock, Carrying value \| $	$ 48,174,279

- Definition

Carrying amount, attributable to parent, of an entity's issued and outstanding stock which is not included within permanent equity. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. Includes stock with a put option held by an ESOP and stock redeemable by a holder only in the event of a change in control of the issuer.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(23)(a)(1))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479440/944-210-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 14.E.Q2)
-Publisher FASB
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (SX 210.13-02(a)(5))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

+ Details

Accounts Receivables, Net (Tables)

9 Months Ended

Dec. 31, 2023

Receivables [Abstract]

Summary of Accounts Receivables


	As of December 31, 2023			As of March 31, 2023
Accounts receivable		7,405,068			1,549,711
Less: allowance for credit losses		(262,444	)		(13,726	)
Accounts receivable, net		7,142,624			1,535,985

Summary of Account Receivables, Allowance for Credit Accounts

The following table provides details of the Company's allowance for credit accounts:


Balance, beginning of period	13,726		14,884
Additions charged	232,866		—
Existing allowance in acquired entities	49,810		—
Reversal of existing allowance	(19,759	)	—
Bad debts written off	-		—
Effect of exchange rate changes	(14,199	)	(1,158	)
Balance, end of period	262,444		13,726

Revenue - Schedule of Summarizes Revenue By The Company's Service (Details) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Revenue from services	$ 15,641,441	$ 3,316,645	$ 36,722,932	$ 8,554,393
Commission and Distribution Income [Member]
Disaggregation of Revenue [Line Items]
Revenue from services	8,157,336	2,785,167	17,617,282	6,804,247
Income from Insurance as a Service [Member]
Disaggregation of Revenue [Line Items]
Revenue from services	$ 7,484,105	$ 531,478	$ 19,105,650	$ 1,750,146

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
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-URI https://asc.fasb.org//1943274/2147479806/606-10-50-4

+ Details

Borrowings - Schedule of Loans from Banks (Details) - USD ($)	9 Months Ended
	Dec. 31, 2023	Mar. 31, 2023
Debt Instrument [Line Items]
Amount outstanding	$ 337,561	$ 307,228
16.00% due on 5-Mar-24
Debt Instrument [Line Items]
Interest rate	16.00%
Maturity date	Mar. 05, 2024
Amount outstanding	$ 2,321
16.50% due on 5-Mar-24
Debt Instrument [Line Items]
Interest rate	16.50%
Maturity date	Mar. 05, 2024
Amount outstanding	$ 2,906
15.50% due on 6-Sep-25
Debt Instrument [Line Items]
Interest rate	15.50%
Maturity date	Sep. 06, 2025
Amount outstanding	$ 19,179
18.00% due on 5-Sep-25
Debt Instrument [Line Items]
Interest rate	18.00%
Maturity date	Sep. 05, 2025
Amount outstanding	$ 19,438
16.00% due on 9-Apr-24
Debt Instrument [Line Items]
Interest rate	16.00%
Maturity date	Apr. 09, 2024
Amount outstanding	$ 10,005
18.50% due on 02-Nov-25
Debt Instrument [Line Items]
Interest rate	18.50%
Maturity date	Nov. 02, 2025
Amount outstanding	$ 16,095
19.50% due on 02-Oct-25
Debt Instrument [Line Items]
Interest rate	19.50%
Maturity date	Oct. 02, 2025
Amount outstanding	$ 12,288
15.50% due on 6-Sep-25
Debt Instrument [Line Items]
Interest rate	15.50%
Maturity date	Sep. 06, 2025
Amount outstanding	$ 19,179
14.75% due on 5-June-24
Debt Instrument [Line Items]
Interest rate	14.75%
Maturity date	Jun. 05, 2024
Amount outstanding	$ 7,627
17.00% due on 5-Oct-24
Debt Instrument [Line Items]
Interest rate	17.00%
Maturity date	Oct. 05, 2024
Amount outstanding	$ 13,637
15.85% due on 4-May-26
Debt Instrument [Line Items]
Interest rate	15.85%
Maturity date	May 04, 2026
Amount outstanding	$ 44,373
8.75% due on 10-Aug-30
Debt Instrument [Line Items]
Interest rate	8.75%
Maturity date	Aug. 10, 2030
Amount outstanding	$ 115,619
15.75% due on 5-Aug-26
Debt Instrument [Line Items]
Interest rate	15.75%
Maturity date	Aug. 05, 2026
Amount outstanding	$ 54,894

Going Concern

9 Months Ended

Dec. 31, 2023

Going Concern [Abstract]

Going Concern

27. Going Concern

The Company has experienced operating losses in current and preceding years. In addition, as of December 31, 2023 and 2022, the Company had negative operating cash flows and negative working capital position. On the Closing Date, the Company received $46.2 million combined gross proceeds from the Business Combination and the FPA (See Note 3 for further information). Management believes that the funds available through the above mentioned arrangements will be sufficient to alleviate the substantial doubt about the Company's ability to continue as a going concern for next 12 months from the date of authorization of these financial statements. These financial statements have been prepared on a going concern basis, which assumes that the Company will continue to operate for the foreseeable future and will be able to realize its assets and discharge its liabilities in the normal course of business. Further the Company is confident that they will be able to procure sufficient funds through its existing and potential investors to meet its financial commitments for the next 12 months.

Other Current Liabilities

9 Months Ended

Dec. 31, 2023

Other Liabilities Disclosure [Abstract]

Other Current Liabilities

12. Other current liabilities

Other current liabilities consist of the following:


	As of December 31, 2023		As of March 31, 2023
Statutory liabilities		1,499,260		1,417,751
Deferred revenue		1,423,827		108,442
Advances from customers		188,383		52,227
Provision for income tax		83,079		83,054
Retirement benefits		3,008		3,008
Other payables		5,539,707		839,411
		8,737,264		2,503,893

Other Payables includes the following:

a. Consideration payable on the acquisitions of FA Premium Insurance Broking Private Limited, National Automobile Club, Peoplebay Consultancy Services Private Limited and FA Events and Media Private Limited amounting to $1,850,384 for the period ended December 31, 2023 and consideration payable on the acquisitions of Peoplebay Consultancy Services Private Limited and FA Events and Media Private Limited amounting to $243,036 for the year ended March 31, 2023.

b. Fair valuation of warrants issued or to be issued to lenders as a part of a senior secured note agreement entered into between Roadzen (DE) and Mizuho Securities USA LLC ("Mizuho") as administrative agent amounting to $2,932,180. Each warrant will grant the holder the right to purchase one Ordinary Share of the Company at an exercise price of $0.001 with a cashless settlement option where the difference between the exercise price and the market price would be paid to the warrant holder in the form of Ordinary Shares. Since the Company has Warrants traded under the symbol RDZNW, market price method was used to compute the fair market value on the reporting date. As per the agreement entered into, if the principal and interest payments are not made as per the repayment schedule, the Company is obliged to issue warrants in the following sequence:


Milestone (days past due)	Warrants Shares based on fully diluted Ordinary Shares of the Company as of the issuance date
180 days		1.00	%
210 days		1.17	%
240 days		1.33	%
270 days		1.50	%
300 days		1.67	%
330 days		1.83	%
360 days		2.50	%

A comparison of the assumptions used in calculating estimated fair value of warrants due as of December 31, 2023 is as follows:



Closing price	$	5.09
Risk Free rate		3.87	%
Dividend Yield		0	%
Volatility		41.55	%
Expected Life of the option	5 years

Summary of Significant Accounting Policies

9 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

2. Summary of significant accounting policies

Basis of presentation and consolidation

Use of estimates

Revenue

Revenues consist primarily of revenue from:


	‑	insurance policy distribution in the form of commissions, brokerage, underwriting and other fees; and
	‑	insurance support services comprised of pre-inspection and risk assessment, roadside assistance, extended warranty, and claim processing using the Company’s IaaS platform.

Income from distribution of insurance policies

Insurance policy distribution and brokerage income:

Distribution fee from underwriting and pricing:

IaaS platform enabled services:

Roadside assistance and extended warranty income:

Inspection income:

Administration fee from insurance support and service plan administration:

Contract assets and liabilities

Cost of services

The cost of services for the Company's distribution business includes commissions paid to channel partners, employee related expenses and other direct expenses related to facilities.

Cost of services are recognized as they are incurred.

Cash and cash equivalents

Restricted cash and cash equivalents


		December 31, 2023		March 31, 2023
Cash and cash equivalents	$	9,406,697	$	589,340
Restricted cash and cash equivalents—current		—		—
Restricted cash and cash equivalents—non-current		427,697		542,490

Concentration of credit risk

Accounts receivable, net

Property and equipment

using declining balance method over the assets’ estimated useful lives as follows:


Assets		Useful lives
Office and electrical equipment		3-5 years
Computers		3 years
Furniture and fixtures		10 years

Leasehold improvements related to office facilities are depreciated over the shorter of the lease term or the estimated useful life of the improvement.

The Company reviews property and equipment for impairment when events or circumstances indicate the carrying amount may not be recoverable.

Intangible assets, net (including intangibles under development)

Internal-use software is amortized on a straight-line basis over its estimated useful life, which is generally three years and up to eleven.

Leases

Fair value measurements and financial instruments


	Level 1 inputs:	Unadjusted quoted prices in active markets for identical assets or liabilities accessible to the reporting entity at the measurement date.

	Level 2 inputs:	Other than quoted prices included in Level 1 inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the asset or liability.

	Level 3 inputs:	Unobservable inputs for the asset or liability used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at measurement date.

Business combination

Goodwill

Foreign currency

Employee benefit plans

Inventories

Inventories are stated at the lower of cost and net realizable value. Cost is determined using the first-in, first-out method (FIFO) for all inventories.

Income taxes

Income/loss per share attributable to common shareholders

Investments

Equity securities

Commitments and contingencies

Expenses

Set forth below is a brief description of the components of the Company’s expenses:

Sales, marketing and business development expense

ii.

General and administrative expenses

iii.

Research and development expense

Recently issued accounting pronouncements and not yet adopted

ii.

Recent Accounting Pronouncements - Accounting Standards Adopted

Prepayments and Other Current Assets - Schedule of Prepayments and Other Current Assets (Details) - USD ($)	Dec. 31, 2023	Mar. 31, 2023
Prepaid Expense And Other Assets Current [Line Item]
Balance with statutory authorities	$ 1,239,594	$ 1,189,787
Unbilled revenue	2,134,765	868,382
Advances given (net of doubtful advances of $229,229 as of December 31, 2023 and $225,495 as of March 31, 2023)	3,246,326	922,380
Other receivables	2,918,159	126,928
Prepayments	1,771,555	22,091
Forward purchase agreement	24,462,103	0
Deposits	74,953	52,368
Prepayments and other current assets	$ 35,847,455	$ 3,181,936

Financial Instruments - Additional Information (Details)	9 Months Ended	12 Months Ended
	Dec. 31, 2023 USD ($)	Mar. 31, 2023 USD ($)
Fair Value Disclosures [Abstract]
Realized gains or losses non-marketable equity securities	$ 0	$ 0
Foreign currency exchange rate	10

Recapitalization - Summary of Number of Ordinary Shares Issued Immediately Following the Consummation of the Business Combination (Details) - shares	9 Months Ended
	Dec. 31, 2023	Mar. 31, 2023
Restructuring Cost and Reserve [Line Items]
Common stock, outstanding prior to the Business Combination	68,440,829	16,501,984
Ordinary shares immediately after the Business Combination	68,440,829
Roadzen (DE) Common stock [Member]
Restructuring Cost and Reserve [Line Items]
Ordinary shares immediately after the Business Combination	58,396,520
FPA [Member]
Restructuring Cost and Reserve [Line Items]
Ordinary shares immediately after the Business Combination	702,255
Unvested Restricted Stock Units [Member]
Restructuring Cost and Reserve [Line Items]
Ordinary shares immediately after the Business Combination	9,903,480
Common Class A [Member]
Restructuring Cost and Reserve [Line Items]
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

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Ordinary Shares

9 Months Ended

Dec. 31, 2023

Equity [Abstract]

Ordinary Shares

16. Ordinary Shares

As of December 31, 2023, the Company was authorized to issue 220,000,000 Ordinary Shares, $0.0001 par value.

As a result of the Business Combination, all of Vahanna's Class A common stock and Class B common stock was converted into 10,044,309 Ordinary Shares of the Company on a one-for-one basis and issued and outstanding shares of Roadzen (DE)'s common stock were converted into 58,396,520 Ordinary Shares of the Company at the conversion ratio.

The holders of Ordinary Shares are entitled to receive dividends as declared from time to time and are entitled to one vote per share at meetings of the Company. In the event of liquidation, the holders of Ordinary Shares are eligible to receive an equal share in the distribution of the surplus assets of the Company based on their percent of ownership.

As of December 31, 2023 and March 31, 2023, 68,440,829 and 16,501,984 Ordinary Shares were issued and outstanding, respectively.

The following table summarizes the Company’s Ordinary Shares reserved for future issuance on an as-converted basis:


	As of December 31, 2023		As of March 31, 2023
Conversion of outstanding redeemable convertible instruments		40,317		25,743,890
Remaining shares available for future issuance under the Company's equity incentive plan		9,903,480		—
Warrants		20,762,635		—

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481004/946-505-50-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480237/815-40-50-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 16
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-16

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

+ Details

Recapitalization

9 Months Ended

Dec. 31, 2023

Restructuring and Related Activities [Abstract]

Recapitalization

3. Recapitalization

As discussed in Note 1, “Reorganization and Description of Business”, following the Closing of Business Combination, Roadzen (DE) was deemed the accounting acquirer of the Parent Company and the transition was accounted for as a reverse recapitalization.

Transaction Proceeds

Upon the Closing, the Company received gross proceeds of $32,770. 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 shareholders’ equity (deficit) for the period ended December 31, 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 FPA)	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

The number of Ordinary Shares 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	9,903,480

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

Public and private placement warrants

In connection with Vahanna's initial public offering in 2021, 10,004,994 public warrants were issued (the “Public Warrants”) and 9,152,087 warrants were issued in a private placement (the “Private Placement Warrants"; and the Private Placement Warrants together with the Public Warrants, collectively the "Warrants") all of which warrants remained outstanding and became warrants for the Ordinary Shares in the Company.

Redemption

Prior to the closing of the Business Combination, certain Vahanna public shareholders exercised their right to redeem certain of their outstanding shares for cash, resulting in the redemption of 15,670,446 shares of Vahanna Class A ordinary shares for an aggregate payment of $168,466,546 (the "Redemption").

Mezzanine Equity

9 Months Ended

Dec. 31, 2023

Temporary Equity Disclosure [Abstract]

Mezzanine Equity

15. Mezzanine equity

The Company has retroactively adjusted the issued and outstanding equity of Roadzen (DE) prior to the Business Combination to give effect to the conversion ratio to determine the number of Ordinary Shares into which the convertible preferred stock of Roadzen (DE) were converted.

As of March 31,2023, the redeemable convertible preferred stock consisted of the following:


	Shares issued and outstanding		Per share original issue price	Aggregate conversion amount		Carrying value
Series A		200,000	0.5		100,000		100,000
Series A1		1,265,100	1.5		1,897,650		48,174,279
		1,465,100			1,997,650		48,274,279

Upon the Closing of the Business Combination, 1,539,566 shares of redeemable convertible preferred stock issued and outstanding in Roadzen (DE) were converted into 41,894,536 Ordinary Shares of the Parent Company at the conversion ratio.

As of December 31, 2023, no shares of convertible preferred stock of Roadzen (DE) were outstanding.

Accounts Payable and Accrued Expenses - Schedule of Accounts Payable and Accrued Expenses (Details) - USD ($)	Dec. 31, 2023	Mar. 31, 2023
Payables and Accruals [Abstract]
Accounts payable	$ 24,313,674	$ 2,008,731
Accrued expenses	5,240,132	3,575,445
Amounts due to employees	1,029,049	656,890
Accounts payable and accrued expenses	$ 30,582,855	$ 6,241,066

Net Loss Per Share - Schedule of Potential Ordinary Shares Equivalents Excluded From the Computation of Diluted Net Loss Per Share (Details) - shares	9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	30,121,998	39,045,322
Share warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	20,211,506	51,893
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	9,903,480
Convertible instruments
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	7,012	10,524,888
Preferred stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount		28,468,541

Accounts Payable and Accrued Expenses - Schedule of Accounts Payable and Accrued Expenses (Parenthetical) (Details) - USD ($)	Dec. 31, 2023	Mar. 31, 2023
Accounts Payable And Accrued Expenses [Line Items]
Business combination transaction cost payable	$ 17,630,434
Amounts due to employees	1,029,049	$ 656,890
Related Party [Member]
Accounts Payable And Accrued Expenses [Line Items]
Amounts due to employees	$ 91,879	$ 45,162

Net Loss Per Share

9 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

Net Loss Per Share

24. Net loss per share

Basic net loss per share attributable to ordinary shareholders is computed by dividing the net loss by the number of weighted-average outstanding Ordinary Shares. Diluted net loss per share attributable to ordinary shareholders is determined by giving effect to all potential common equivalents during the reporting period, unless including them yields an antidilutive result. The Company considers its preferred stocks, convertible notes and share warrants as potential common equivalents, but excluded them from the computation of diluted net loss per share attributable to ordinary shareholders in the periods presented, as their effect was antidilutive.

The following table sets forth the computation of basic net loss per share attributable to ordinary shareholders and preferred stock holders:


Particulars	For the three months ended December 31, 2023			For the three months ended December 31, 2022		For the nine months ended December 31, 2023			For the nine months ended December 31, 2022
Numerator:
Net loss		(30,569,619	)		477,429		(65,690,663	)		(9,529,872	)
Less: dividend attributable to preferred stockholders for the current year		-			27,742		-			53,956
Net loss attributable to Roadzen Inc. ordinary shareholders		(30,569,619	)		449,687		(65,690,663	)		(9,583,828	)
Denominator:
Weighted-average shares used in computing net loss per share attributable to Roadzen Inc. ordinary shareholders - basic and diluted		68,440,829			16,501,984		36,144,311			16,501,984
Net loss per share attributable to Roadzen Inc. ordinary shareholders - basic and diluted		(0.45	)		0.03		(1.82	)		(0.58	)


Particulars	For the nine months ended December 31, 2023		For the nine months ended December 31, 2022
Share warrants		20,211,506		51,893
Restricted stock units		9,903,480		-
Convertible instruments		7,012		10,524,888
Preferred stock		—		28,468,541
Total		30,121,998		39,045,322

Financial Instruments

9 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

Financial Instruments

20. Financial instruments

The Company measures its convertible promissory notes and Forward Purchase Agreement asset at fair value. The Company’s convertible promissory notes are categorized as Level 1 because they are measured based on observable listed prices of such instruments. The Forward Purchase Agreement is categorized as Level 3 because of unobservable inputs and other estimation techniques due to the absence of quoted market prices, inherent lack of liquidity and the tenure of such financial instruments.

Financial instruments measured at fair value on a 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 Company uses a third-party valuation specialist to assist management in its determination of the fair value of its Level 1 classified convertible promissory notes. The fair value of these financial instruments is based on the volatility of its ordinary share warrants, based on implied volatility from the Company’s traded warrants and from historical volatility of select peer company’s Ordinary Share that matches the expected remaining life of the warrants. For key aspects of valuation refer note 13 (B) (3).

The Company uses a third party valuation specialist to assist management in its determination of the fair value of its Level 3 classified Forward Purchase Agreement. The instrument was fair valued using a Monte Carlo simulation model utilizing assumptions related to the contractual term of the instruments and current interest rates. For key aspect of the valuation inputs refer note 6 (c).

Assets measured at Fair Value on a non-recurring basis

The Company’s non-financial assets, such as goodwill, intangible assets and property and equipment are adjusted to fair value when an impairment charge is recognized. Such fair value measurements are based predominately on Level 3 inputs.

Non-Marketable Equity Securities

The Company measures its non-marketable equity securities that do not have readily determinable fair values under the measurement alternative at cost less impairment, adjusted by price changes from observable transactions recorded within "Other income/(expense) net" in the consolidated statements of operations. The Company’s non-marketable equity securities are investments in privately held companies without readily determinable fair values and primarily relate to its investment in Daokang and Moonshot. The Company did not record any realized gains or losses for the Company’s non-marketable equity securities during the period ended December 31, 2023 and the year ended March 31, 2023.

Management of risks

Interest rate risk - Interest rate risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate due to change to market interest rates. The Company is exposed to interest rate risk for its long-term debts where the interest rates are variable according to the market conditions.

Foreign currency risk - The Company monitors its foreign currency exposures on a regular basis. The operations are primarily denominated in United States Dollars, Pounds Sterling, Indian Rupees and Euros. For the purpose of analyzing foreign currency exchange risk, the Company considered the historical trends in foreign currency exchange rates. Based on a sensitivity analysis the Company performed as of December 31, 2023, an adverse 10% foreign currency exchange rate change applied to total monetary assets and liabilities denominated in currencies other than the United States Dollar would not have a material effect on the Company's financial statements.

Business Combinations - Schedule of Goodwill (Details) - USD ($)	9 Months Ended	12 Months Ended
	Dec. 31, 2023	Mar. 31, 2023
Business Combinations [Abstract]
Opening balance	$ 996,441	$ 1,725,292
Goodwill relating to acquisitions consummated during the year	1,337,685
Less: Impairment recognized on goodwill during the year		(664,903)
Effect of exchange rate changes	(191,348)	(63,948)
Closing balance	$ 2,142,778	$ 996,441

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

Income Taxes - Schedule of Income before Income Tax Domestic and Foreign (Details) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Domestic	$ (28,679,087)	$ 2,796,117	$ (61,637,236)	$ (5,806,071)
Foreign	(2,058,059)	(2,450,329)	(4,254,813)	(3,932,603)
(Loss)/Income before income tax expense	$ (30,737,146)	$ 345,788	$ (65,892,049)	$ (9,738,674)

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(11))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479557/942-235-S99-1

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 25
-Paragraph 1
-SubTopic 20
-Topic 940
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481913/940-20-25-1

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(10))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

+ Details

Business Combinations

9 Months Ended

Dec. 31, 2023

Business Combinations [Abstract]

Business combinations

19. Business combinations

Global Insurance Management Limited

During the period ended June 30, 2023, Roadzen (DE) (on June 30, 2023) acquired 100% of the equity interests in Global Insurance Management Limited for a cash consideration of $3,998,000. Global Insurance Management Limited was incorporated in the United Kingdom and is engaged in the business of underwriting, pricing and distribution of Insurance products. As of December 31, 2023, the Company has transferred the entire consideration, however, Roadzen (DE) has exercised board control over Global Insurance Management from June 30, 2023. The financial results of Global Insurance Management have been included in the Company's consolidated financial statements from June 30, 2023 as the Company has possessed the power to direct the relevant activities of Global Insurance Management from the share purchase agreement date.

The major classes of assets and liabilities to which we have allocated the purchase price were as follows:



Cash and cash equivalents	10,997,974
Acquired customer contract (Refer Note 9)	1,157,920
Other assets	7,157,343
Other liabilities	(15,947,363	)
Net assets	3,365,874
Purchase consideration	3,998,000
Goodwill (Refer Note 19(d))	632,126

The excess of purchase consideration over the fair value of net tangible and identifiable intangible assets acquired was recorded as goodwill and is primarily attributed to the synergies expected from marketing expertise and penetration which the acquiree possesses.

Following are details of the purchase price allocated to the intangible assets acquired:


	Amount		Weighted average life
Acquired customer contracts		1,157,920	3 years

National Automobile Club

During the period ended June 30, 2023, Roadzen (DE) (on June 06, 2023) acquired 100% of the equity interests in National Automobile Club for a cash consideration of $2,100,000. National Automobile Club was incorporated in the state of California and is engaged in the business of roadside assistance services. As of December 31, 2023, Roadzen (DE) has transferred a consideration amounting to $1,750,000, however, Roadzen (DE) has exercised board control over National Automobile Club from June 06, 2023. The financial results of National Automobile Club have been included in the Company's consolidated financial statements from June 06, 2023 as the Company has possessed the power to direct the relevant activities of National Automobile Club from the share purchase agreement date.

The major classes of assets and liabilities to which we have allocated the purchase price were as follows:



Cash and cash equivalents	182,713
Intangible assets	13,384
Acquired customer contract (Refer Note 9)	870,027
Other assets	1,947,606
Other liabilities	(1,215,247	)
Net assets	1,798,483
Purchase consideration	2,100,000
Goodwill (Refer Note 19(d))	301,517

Following are details of the purchase price allocated to the intangible assets acquired:


	Amount		Weighted average life
Acquired customer contracts		870,027	3 years

FA Premium Insurance Broking Private Limited

During the period ended September 30, 2023, Roadzen (DE) (on July 01, 2023) acquired 100% of the equity interests in FA Premium Insurance Broking Private Limited for a consideration of $1,279,820. FA Premium Insurance Broking Private Limited was incorporated in India and is engaged in the business of broking services. As of December 31, 2023, Roadzen (DE) has transferred a consideration amounting to $1,204, however, Roadzen (DE) exercises board control over FA Premium Insurance Broking Private Limited from July 01, 2023. The Share transfer is pending due approval of the Insurance Regulatory and Development Authority of India (the "IRDA"), which is an administrative process. Once the approval is received, share transfer will be affected. In the meantime, the Company has management control over the investee accordingly it has been consolidated with effect from July 01, 2023.

The major classes of assets and liabilities to which we have allocated the purchase price were as follows:



Cash and cash equivalents	72,430
Intangible assets	34,754
Acquired customer contract (Refer Note 9)	20,345
Acquired distribution network (Refer Note 9)	814,365
Other assets	670,182
Other liabilities	(736,298	)
Net assets	875,778
Purchase consideration	1,279,820
Goodwill (Refer Note 19(d))	404,042

Following are details of the purchase price allocated to the intangible assets acquired:


	Amount		Weighted average life
Acquired distribution network		814,365	3 years
Acquired customer contracts		20,345	3 years

Goodwill


	As of December 31, 2023			As of March 31, 2023
Opening balance		996,441			1,725,292
Goodwill relating to acquisitions consummated during the year (Refer Note 19 (a), (b) & (c))		1,337,685			—
Less: Impairment recognized on goodwill during the year		—			(664,903	)
Effect of exchange rate changes		(191,348	)		(63,948	)
Closing balance		2,142,778			996,441

In the coming years, the Company has decided to shift its focus more on insurance distribution services rather than engaging into insurance support services. Due to the change in the business strategy, it is more likely than not that the carrying value of the distribution and marketing entities exceeded its fair value. As a result, the Company performed a goodwill impairment assessment during the year ended March 31, 2023, by comparing the fair value of the affected entities (FA Events and Media Private Limited, Peoplebay Consultancy Services Private Limited, Kintsugi Innovation Labs Private Limited) to its carrying value. Fair value was determined by using DCF (discounted cashflow method) which is a level 3 measurement. The carrying value of the affected entities exceeded its fair value and as a result, a goodwill impairment charge of $664,903 (including amount of $24,591 due to foreign exchange fluctuation) was recorded in consolidated statements of operations under the head "Impairment of goodwill and intangibles with definite life" during the year ended March 31, 2023.

The Company performed qualitative assessment for other entities and indicated that it is more likely than not that the fair value of the acquired entities exceeded its carrying value, therefore, the assessment did not result in an impairment.

Segment Reporting - Additional Information (Details)	9 Months Ended
Segment Reporting - Additional Information (Details)	Dec. 31, 2023 Segment
Segment Reporting [Abstract]
Number of reporting segment	1

Financial instruments (Tables)

9 Months Ended

Dec. 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

Ordinary Shares (Tables)

9 Months Ended

Dec. 31, 2023

Equity [Abstract]

Schedule of Ordinary Shares Reserved for Future Issuance

The following table summarizes the Company’s Ordinary Shares reserved for future issuance on an as-converted basis:


	As of December 31, 2023		As of March 31, 2023
Conversion of outstanding redeemable convertible instruments		40,317		25,743,890
Remaining shares available for future issuance under the Company's equity incentive plan		9,903,480		—
Warrants		20,762,635		—

Income Taxes - Schedule of Reconciliation of Statutory Federal Income Tax Rate (Details)	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Federal statutory income tax rate	21.00%	21.00%	21.00%	21.00%
Non deductible expenses	0.03%	26.80%	4.98%	(2.93%)
Valuation allowance	(20.51%)	0.82%	(25.73%)	(19.41%)
Foreign rate differential	(0.16%)	(27.81%)	(0.17%)	1.64%
Share warrants	0.00%	2.01%	0.00%	(0.07%)
Other	0.05%	(36.91%)	0.06%	0.25%
Total provision for income taxes	0.41%	(14.09%)	0.14%	0.48%

Cash, Cash Equivalents and Restricted Cash

9 Months Ended

Dec. 31, 2023

Cash and Cash Equivalents [Abstract]

Cash, Cash Equivalents and Restricted Cash

4. Cash, cash equivalents and restricted cash


	As of December 31, 2023		As of March 31, 2023
Balances with banks
In current accounts		9,402,795		588,347
Cash in hand		3,902		993
		9,406,697		589,340

Restricted cash and cash equivalents (non - current)		427,697		542,490

Cover Page - shares	9 Months Ended
Cover Page - shares	Dec. 31, 2023	Feb. 12, 2024
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Dec. 31, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--03-31
Entity Registrant Name	ROADZEN INC.
Entity Central Index Key	0001868640
Entity Filer Category	Non-accelerated Filer
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Document Transition Report	false
Document Quarterly Report	true
Entity Incorporation, State or Country Code	D8
Entity Address, Address Line One	111 Anza Blvd.
Entity Address, Address Line Two	Suite 109
Entity Address, City or Town	Burlingame
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94010
Entity File Number	001-41094
Entity Tax Identification Number	98-1600102
City Area Code	650
Local Phone Number	414-3530
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		68,440,829
Ordinary Share [Member]
Document Information [Line Items]
Title of 12(b) Security	Ordinary Shares, par value $0.0001 per share
Trading Symbol	RDZN
Security Exchange Name	NASDAQ
Warrants, each warrant exercisable for one Ordinary Share, each at an exercise price of $11.50 per share [Member]
Document Information [Line Items]
Title of 12(b) Security	Warrants, each warrant exercisable for one Ordinary Share, each at an exercise price of $11.50 per share
Trading Symbol	RDZNW
Security Exchange Name	NASDAQ

Summary of Significant Accounting Policies - Additional Information (Details)	9 Months Ended
	Dec. 31, 2023 Unit
Summary of Significant Accounting Policies [Line Items]
Roadside assistance services period	1 year
Number of reporting unit	1
Minimum [Member]
Summary of Significant Accounting Policies [Line Items]
Insurance support services period	1 year
Service plan administration period	1 year
Maximum [Member]
Summary of Significant Accounting Policies [Line Items]
Insurance support services period	7 years
Service plan administration period	7 years

Consolidated Statement of Mezzanine Equity and Shareholders' Deficit - USD ($)	Total	Previously Reported [Member]	Convertible Preferred Stock and Additional Paid In Capital [Member]	Convertible Preferred Stock and Additional Paid In Capital [Member] Previously Reported [Member]	Convertible Preferred Stock and Additional Paid In Capital [Member] Revision of Prior Period, Adjustment [Member]	Ordinary Stock and Additional Paid In Capital [Member]	Ordinary Stock and Additional Paid In Capital [Member] Previously Reported [Member]	Ordinary Stock and Additional Paid In Capital [Member] Revision of Prior Period, Adjustment [Member]	Accumulated Deficit [Member]	Accumulated Deficit [Member] Previously Reported [Member]	Debenture Redemption Reserve [Member]	Debenture Redemption Reserve [Member] Previously Reported [Member]	Stock Based Compensation [Member]	Accumulated Other Comprehensive Loss [Member]	Accumulated Other Comprehensive Loss [Member] Previously Reported [Member]
Mezzanine equity, beginning balance at Mar. 31, 2022			$ 23,696,228	$ 23,696,228
Mezzanine equity, beginning balance (in shares) at Mar. 31, 2022			25,774,117	947,163	24,826,954
Beginning balance at Mar. 31, 2022	$ (36,878,068)	$ (36,878,068)				$ 303,213	$ 303,213		$ (37,057,245)	$ (37,057,245)				$ (124,036)	$ (124,036)
Beginning Balance (in shares) at Mar. 31, 2022						16,501,984	606,425	15,895,559
Issuance of Series A1 stock during the period through conversion of loan			$ 9,133,631
Issuance of Series A1 stock during the period through conversion of loan, Shares			3,797,667
Net profit attributable to ordinary shareholders	(9,529,872)								(9,529,872)
Impact of issuance/repayment of debenture									(390,856)		$ 390,856
Other comprehensive income	11,365													11,365
Mezzanine equity, ending balance at Dec. 31, 2022			$ 32,829,859
Mezzanine equity, ending balance (in shares) at Dec. 31, 2022			29,571,784
Ending Balance (in shares) at Dec. 31, 2022						16,501,984
Ending Balance at Dec. 31, 2022	(46,396,575)					$ 303,213			(46,977,973)		390,856			(112,671)
Mezzanine equity, beginning balance at Sep. 30, 2022			$ 32,717,915	$ 32,717,915
Mezzanine equity, beginning balance (in shares) at Sep. 30, 2022			29,050,404	1,067,562	27,982,842
Beginning balance at Sep. 30, 2022	(46,995,797)	(46,995,797)				$ 303,213	$ 303,213		(47,257,034)	(47,257,034)	192,488	$ 192,488		(234,464)	(234,464)
Beginning Balance (in shares) at Sep. 30, 2022						16,501,984	606,425	15,895,559
Issuance of convertible preferred stock on conversion of convertible notes			$ 111,944
Issuance of convertible preferred stock on conversion of convertible notes, Shares			521,380
Net profit attributable to ordinary shareholders	477,429								477,429
Impact of issuance/repayment of debenture									(198,368)		198,368
Other comprehensive income	121,793													121,793
Mezzanine equity, ending balance at Dec. 31, 2022			$ 32,829,859
Mezzanine equity, ending balance (in shares) at Dec. 31, 2022			29,571,784
Ending Balance (in shares) at Dec. 31, 2022						16,501,984
Ending Balance at Dec. 31, 2022	(46,396,575)					$ 303,213			(46,977,973)		390,856			(112,671)
Mezzanine equity, beginning balance at Mar. 31, 2023	$ 48,274,279		$ 48,274,279	$ 48,274,279
Mezzanine equity, beginning balance (in shares) at Mar. 31, 2023	1,465,100		39,868,173	1,465,100	38,403,073
Beginning balance at Mar. 31, 2023	$ (50,845,203)	$ (50,845,203)				$ 303,213	$ 303,213		(51,448,299)	$ (51,448,299)	366,786	$ 366,786		(66,903)	$ (66,903)
Beginning Balance (in shares) at Mar. 31, 2023						16,501,984	606,425	15,895,559
Issuance of Series A1 stock during the period through rights issue			$ 8,879,409
Issuance of Series A1 stock during the period through rights issue, Shares			1,558,916
Issuance of Series A1 stock during the period through conversion of loan			$ 2,662,590
Issuance of Series A1 stock during the period through conversion of loan, Shares			467,446
Net profit attributable to ordinary shareholders	(65,690,663)								(65,690,663)
Movement attributable to stock based Compensation Reserve	30,779,664												$ 30,779,664
Impact of issuance/repayment of debenture									104,304		(104,304)
Other comprehensive income	111,197													111,197
Conversion of redeemable convertible preferred stock into ordinary shares upon Business Combination			$ (59,816,278)
Conversion of redeemable convertible preferred stock into ordinary shares upon Business Combination, shares			(41,894,535)
Conversion of redeemable convertible preferred stock into ordinary shares upon Business Combination	59,816,278					$ 59,816,278
Conversion of redeemable convertible preferred stock into ordinary stock upon Business Combination, Shares						41,894,536
Issuance of ordinary shares upon Business Combination	$ 24,860,834					$ 24,860,834
Issuance of ordinary shares upon Business Combination, Shares						10,044,309
Ending Balance (in shares) at Dec. 31, 2023	2,145,991					68,440,829
Ending Balance at Dec. 31, 2023	$ (967,893)					$ 84,980,325			(117,034,658)		262,482		30,779,664	44,294
Beginning balance at Sep. 30, 2023	2,540,425					$ 84,980,325			(86,524,231)		321,674		3,526,209	236,448
Beginning Balance (in shares) at Sep. 30, 2023						68,440,829
Net profit attributable to ordinary shareholders	(30,569,619)								(30,569,619)
Movement attributable to stock based Compensation Reserve	27,253,455												27,253,455
Impact of issuance/repayment of debenture									59,192		(59,192)
Other comprehensive income	$ (192,154)													(192,154)
Ending Balance (in shares) at Dec. 31, 2023	2,145,991					68,440,829
Ending Balance at Dec. 31, 2023	$ (967,893)					$ 84,980,325			$ (117,034,658)		$ 262,482		$ 30,779,664	$ 44,294

Ordinary Shares - Additional Information (Details) - $ / shares	9 Months Ended
	Dec. 31, 2023	Mar. 31, 2023
Class of Stock [Line Items]
Ordinary shares, authorized	220,000,000	108,840,000
Ordinary shares, par value	$ 0.0001	$ 0.0001
Conversion of Shares	58,396,520
Ordinary shares, conversion basis	one-for-one basis
Ordinary shares, voting rights	one vote
Ordinary shares, issued	68,440,829	16,501,984
Ordinary shares, outstanding	68,440,829	16,501,984
Common Class A [Member]
Class of Stock [Line Items]
Ordinary shares, outstanding	25,012,500
Common Class A and Common Class B [Member]
Class of Stock [Line Items]
Conversion of Shares	10,044,309

Warrants - Additional Information (Details) - $ / shares	9 Months Ended
	Dec. 31, 2023	Sep. 20, 2023
Public Warrants [Member]
Class of Warrant or Right [Line Items]
Number of warrants outstanding	10,004,994	10,004,994
Warrants and rights outstanding term	5 years
Class of warrants or rights redemption price per unit	$ 0.01
Minimum notice period to be given to the holders of warrants	30 days
Public Warrants [Member] \| Ordinary Shares
Class of Warrant or Right [Line Items]
Warrants exercisable price	$ 11.5
Number of consecutive trading days for determining the share price	20 days
Share price	$ 18
Number of trading days for determining the share price	30 days
Private Placement Warrants [Member]
Class of Warrant or Right [Line Items]
Number of warrants outstanding	9,152,087	9,152,087
Private Placement Warrants [Member] \| From The Completion Of The Initial Business Combination [Member]
Class of Warrant or Right [Line Items]
Period after which the warrants are exercisable	30 days

Income Taxes - Schedule of Net Deferred Tax Assets (Details) - USD ($)	Dec. 31, 2023	Mar. 31, 2023	Mar. 31, 2022
Deferred tax assets:
Net operating loss carry forwards	$ 25,134,198	$ 8,480,316	$ 5,742,033
Unabsorbed depreciation carry forwards	107,160	54,438	9,174
Retirement benefits	74,587	56,603	53,656
Depreciation and amortization	124,269	50,918	25,232
Others	241,303	5,965	288,348
Total deferred tax assets	25,681,517	8,648,240
Less: valuation allowance	(25,521,208)	(8,565,895)	(6,052,307)
Deferred tax assets, net of valuation allowance	160,309	82,345
Deferred tax liabilities:
Intangibles on account of business combination	(523,462)	0	(117,729)
Net deferred tax assets		$ 82,345
Net deferred tax liabilities	$ (363,153)		$ (47,626)

Income Taxes - Schedule of Movement in Net Deferred Tax Assets (Details) - USD ($)	9 Months Ended	12 Months Ended
	Dec. 31, 2023	Mar. 31, 2023
Deferred tax assets:
Net operating loss carry forwards, Beginning	$ 8,480,316	$ 5,742,033
Unabsorbed depreciation carry forwards, Beginning	54,438	9,174
Retirement benefits, Beginning	56,603	53,656
Depreciation and amortization, Beginning	50,918	25,232
Fair value changes on convertible notes, Beginning		3,967
Others, Beginning	5,965	288,348
Less: valuation allowance, Beginning	(8,565,895)	(6,052,307)
Net operating loss carry forwards recognized or reversed through statements of operations	16,653,882	2,738,283
Unabsorbed depreciation carry forwards recognized or reversed through statements of operations	52,722	45,264
Retirement benefits recognized or reversed through statements of operations	17,984	2,947
Depreciation and amortization recognized or reversed through statements of operations	73,351	25,686
Fair value changes on convertible notes recognized or reversed through statements of operations		(3,967)
Others recognized or reversed through statements of operations	235,338	(282,383)
Less: valuation allowance recognized or reversed through statements of operations	(16,955,313)	(2,513,588)
Net operating loss carry forwards, Ending	25,134,198	8,480,316
Unabsorbed depreciation carry forwards, Ending	107,160	54,438
Retirement benefits, Ending	74,587	56,603
Depreciation and amortization, Ending	124,269	50,918
Others, Ending	241,303	5,965
Less: valuation allowance, Ending	(25,521,208)	(8,565,895)
Deferred tax liabilities:
Intangibles on account of business combination, Beginning	0	(117,729)
Intangibles on account of business combination recognized or reversed through statements of operations	(523,462)	117,729
Currency translation recognized or reversed through statements of operations	(23,255)	(1,286)
Intangibles on account of business combination, Ending	(523,462)	0
Acquisitions recognized or reversed through statements of operations	606,512
Currency translation of Currency Translation And Acquisitions	23,255	1,286
Acquisitions impact of Currency Translation And Acquisitions	(606,512)
Net deferred tax assets, Beginning	82,345
Net deferred tax liabilities, Beginning		(47,626)
Deferred Tax Assets, Net Recognized Or Reversed Through Statements of Operations, Total	137,759	128,685
Net deferred tax assets/ (liabilities) impact of Currency Translation And Acquisitions	(583,257)	1,286
Net deferred tax assets		$ 82,345
Net deferred tax liabilities	$ (363,153)

Intangible Assets, Net - Schedule of Finite-Lived Intangible Assets (Details) - USD ($)	Dec. 31, 2023	Mar. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Intangible assets, Gross	$ 13,393,709	$ 8,282,905
Less: accumulated depreciation and amortization	(8,654,379)	(5,569,048)
Impairment loss	(241,694)	(244,699)
Intangible assets, net	4,497,636	2,469,158
Software for internal use
Finite-Lived Intangible Assets [Line Items]
Intangible assets, Gross	9,407,431	7,292,101
Customer contracts
Finite-Lived Intangible Assets [Line Items]
Intangible assets, Gross	2,728,118	682,399
Distribution network
Finite-Lived Intangible Assets [Line Items]
Intangible assets, Gross	802,730
Intangible assets under development
Finite-Lived Intangible Assets [Line Items]
Intangible assets, Gross	344,577	196,174
Intellectual property
Finite-Lived Intangible Assets [Line Items]
Intangible assets, Gross	110,799	112,176
Trademark
Finite-Lived Intangible Assets [Line Items]
Intangible assets, Gross	$ 54	$ 55

Intangible Assets, Net - Schedule of Estimated Amortization of the Company's Intangible Assets for Future Periods (Details)	Dec. 31, 2023 USD ($)
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2024	$ 1,546,500
2025	1,268,848
2026	952,276
2027	$ 385,435

Accounts Receivables, Net

9 Months Ended

Dec. 31, 2023

Receivables [Abstract]

Accounts Receivables, Net

5. Accounts receivables, net


	As of December 31, 2023			As of March 31, 2023
Accounts receivable		7,405,068			1,549,711
Less: allowance for credit losses		(262,444	)		(13,726	)
Accounts receivable, net		7,142,624			1,535,985

The following table provides details of the Company's allowance for credit accounts:


Balance, beginning of period	13,726		14,884
Additions charged	232,866		—
Existing allowance in acquired entities	49,810		—
Reversal of existing allowance	(19,759	)	—
Bad debts written off	-		—
Effect of exchange rate changes	(14,199	)	(1,158	)
Balance, end of period	262,444		13,726

Going Concern - Additional Information (Details) $ in Millions	9 Months Ended
	Dec. 31, 2023 USD ($)
Going Concern [Abstract]
Gross proceeds from business combination and PIPE investment	$ 46.2

Recapitalization - Summary of Business Acquisition Elements Reconciled to Consolidated Financial Statements (Details)	9 Months Ended
	Dec. 31, 2023 USD ($)
Restructuring and Related Activities [Abstract]
Cash-trust and cash, net of redemptions	$ 32,770
Less: transaction costs and advisory fees, paid	0
Net proceeds from the Business Combination	32,770
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	$ 24,860,833

Other Current Liabilities - Summary of Obliged to Issue Warrants Shares (Details)	Dec. 31, 2023
180 days
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Warrants Shares based on fully diluted Ordinary Shares of the Company as of the issuance date	1.00%
210 days
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Warrants Shares based on fully diluted Ordinary Shares of the Company as of the issuance date	1.17%
240 days
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Warrants Shares based on fully diluted Ordinary Shares of the Company as of the issuance date	1.33%
270 days
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Warrants Shares based on fully diluted Ordinary Shares of the Company as of the issuance date	1.50%
300 days
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Warrants Shares based on fully diluted Ordinary Shares of the Company as of the issuance date	1.67%
330 days
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Warrants Shares based on fully diluted Ordinary Shares of the Company as of the issuance date	1.83%
360 days
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Warrants Shares based on fully diluted Ordinary Shares of the Company as of the issuance date	2.50%

Summary of Significant Accounting Policies - Schedule of Depreciation Over Assets Estimated Useful Lives (Details)	Dec. 31, 2023
Office and Electrical Equipment [Member] \| Minimum [Member]
Summary of Significant Accounting Policies [Line Items]
Property and equipment, Useful lives (years)	3 years
Office and Electrical Equipment [Member] \| Maximum [Member]
Summary of Significant Accounting Policies [Line Items]
Property and equipment, Useful lives (years)	5 years
Computers [Member]
Summary of Significant Accounting Policies [Line Items]
Property and equipment, Useful lives (years)	3 years
Furniture and Fixtures [Member]
Summary of Significant Accounting Policies [Line Items]
Property and equipment, Useful lives (years)	10 years

Recapitalization - Additional Information (Details) - USD ($)	9 Months Ended
	Dec. 31, 2023	Sep. 20, 2023
Restructuring Cost and Reserve [Line Items]
Gross proceeds	$ 32,770
Class A Ordinary Shares [Member]
Restructuring Cost and Reserve [Line Items]
Shares redemption	15,670,446
Common stock aggregate payment	$ 168,466,546
Public Warrants [Member]
Restructuring Cost and Reserve [Line Items]
Number of warrants outstanding	10,004,994	10,004,994
Private Placement Warrants [Member]
Restructuring Cost and Reserve [Line Items]
Number of warrants outstanding	9,152,087	9,152,087

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Income Taxes - Additional Information (Details) - USD ($)	9 Months Ended	12 Months Ended
	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Increase in valuation allowance	$ 16,955,313	$ 2,515,200
Operating loss carryforwards, Net	$ 85,158,720
Foreign tax credits, expiration	8 years
Unrecognized tax benefits	$ 0		$ 0

Condensed Consolidated Statements of Operations - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Income Statement [Abstract]
Revenue	$ 15,641,441	$ 3,316,645	$ 36,722,932	$ 8,554,393
Costs and expenses:
Cost of services (exclusive of depreciation and amortization shown separately)	6,816,794	1,512,670	15,665,565	4,404,735
Research and development	1,876,839	519,931	3,052,244	1,779,842
Sales and marketing	11,137,159	3,090,890	24,663,562	7,262,861
General and administrative	26,676,170	861,060	34,855,630	1,974,121
Depreciation and amortization	451,773	521,544	1,232,626	1,293,803
Total costs and expenses	46,958,735	6,506,095	79,469,627	16,715,362
Loss from operations	(31,317,294)	(3,189,450)	(42,746,695)	(8,160,969)
Interest income/(expense)	(723,561)	(399,905)	(1,558,985)	(603,643)
Fair value gains/(losses) in financial instruments carried at fair value	1,220,362	4,017,520	(22,369,638)	(1,009,374)
Other income/(expense) net	83,347	(82,377)	783,269	35,312
Total other income/(expense)	580,148	3,535,238	(23,145,354)	(1,577,705)
(Loss)/Income before income tax expense	(30,737,146)	345,788	(65,892,049)	(9,738,674)
Less: income tax (benefit)/expense	(126,732)	(48,719)	(93,382)	(46,711)
Net (loss)/income before non-controlling interest	(30,610,414)	394,507	(65,798,667)	(9,691,963)
Net loss attributable to non-controlling interest, net of tax	(40,795)	(82,922)	(108,004)	(162,091)
Net (loss)/income attributable to Roadzen Inc.	(30,569,619)	477,429	(65,690,663)	(9,529,872)
Net (loss)/income attributable to Roadzen Inc. ordinary shareholders
Net (loss)/income attributable to Roadzen Inc. ordinary shareholders	$ (30,569,619)	$ 477,429	$ (65,690,663)	$ (9,529,872)
Basic net income (loss) per share	$ (0.45)	$ 0.03	$ (1.82)	$ (0.58)
Diluted net income (loss) per share	$ (0.45)	$ 0.03	$ (1.82)	$ (0.58)
Weighted-average number of shares outstanding used to compute net loss per share attributable to Roadzen Inc. ordinary shareholders
Weighted average shares outstanding, Basic	68,440,829	16,501,984	36,144,311	16,501,984
Weighted average shares outstanding, Diluted	68,440,829	16,501,984	36,144,311	16,501,984

Reorganization and Description of Business - Additional Information (Details)	9 Months Ended
	Dec. 31, 2023 $ / shares shares	Sep. 20, 2023 shares	Mar. 31, 2023 $ / shares shares
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Common stock, par value \| $ / shares	$ 0.0001		$ 0.0001
Ordinary shares, outstanding \| shares	68,440,829		16,501,984
Roadzen RSU [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Ratio of conversion	27.21
Roadzen. Inc [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Common stock, par value \| $ / shares	$ 0.0001
Ordinary shares, outstanding \| shares		1
Ordinary Shares
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Ratio of conversion	27.21

Borrowings - Schedule of Maturities of Long-term Borrowings Excluding Convertible Notes (Details)	Dec. 31, 2023 USD ($)
Debt Disclosure [Abstract]
Period ending March 31, 2024	$ 2,298,943
Period ending March 31, 2025	117,270
Period ending March 31, 2026 and onwards	585,353
Long-term borrowings excluding convertible notes	$ 3,001,566

Commitments and Contingencies - Components of Lease Cost (Details)	9 Months Ended
	Dec. 31, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Operating lease cost	$ 54,133
Short-term lease cost	15,356
Total lease cost	$ 69,489

Borrowings - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	9 Months Ended
	Jun. 30, 2023	Dec. 31, 2023
Senior Secured Notes Agreement [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 7,500
Debt Instrument, Maturity Date	Jun. 30, 2024
Interest rate	15.00%
Long-Term Debt, Gross		$ 2,460
Debt Instrument, Basis Spread on Variable Rate		20.00%
Percentage of discount of Obtained to finance transaction costs		10.00%
Business combination, price of per ordinary share		$ 1
Convertible Promissory Note [Member]
Debt Instrument [Line Items]
Long-Term Debt, Gross		$ 1,040
Junior Unsecured Convertible Debentures [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 400
Debt Instrument, Maturity Date		Dec. 15, 2025
Interest rate		13.00%
Conversion price		$ 10

Commitments and Contingencies - Additional Information (Details) - USD ($)	9 Months Ended	12 Months Ended
	Dec. 31, 2023	Mar. 31, 2023
Other Commitments [Line Items]
Temporary equity, shares outstanding		1,465,100
Rent expense for operating leases	$ 69,489
Series A and A1 Preferred Stock [Member]
Other Commitments [Line Items]
Cumulative dividend in respect of preferred stock		$ 477,101
Convertible Preferred Stock [Member]
Other Commitments [Line Items]
Temporary equity, shares outstanding	0

Other Long-Term Liabilities

9 Months Ended

Dec. 31, 2023

Other Liabilities Disclosure [Abstract]

Other Long-Term Liabilities

14. Other long-term liabilities


	As of December 31, 2023		As of March 31, 2023
Retirement benefits		399,510		294,301
Deferred tax liability		523,462		—
		922,972		294,301

Summary of Significant Accounting Policies (Tables)

9 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Schedule of Depreciation Over Assets Estimated Useful Lives

Depreciation is calculated

using declining balance method over the assets’ estimated useful lives as follows:


Assets		Useful lives
Office and electrical equipment		3-5 years
Computers		3 years
Furniture and fixtures		10 years

Non-Marketable Securities - Additional Information (Details)	Dec. 31, 2023 USD ($)
Moonshot - Internet SAS [Member]
Summary of Investment Holdings [Line Items]
Investment at cost	$ 2,410,000
Investment at cost, percentage	6.68%
Daokang (Beijing) Data Science Company Ltd [Member]
Summary of Investment Holdings [Line Items]
Investment at cost	$ 2,500,030
Investment at cost, percentage	34.50%

- Definition

Cost of the investment.

+ References

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- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Investments

9 Months Ended

Dec. 31, 2023

Equity Method Investments and Joint Ventures [Abstract]

Investments

22. Investments

These balances include certain investments in mutual funds that are recorded at fair value. Any changes to the fair value are recorded in "Fair value gains/(losses) in financial instruments carried at fair value" due to the election of the fair value option of accounting for financial instruments.

Ordinary Shares - Schedule of Ordinary Shares Reserved For Future Issuance On An As-converted Basis (Details) - shares	Dec. 31, 2023	Mar. 31, 2023
Conversion of outstanding redeemable convertible instruments
Class of Stock [Line Items]
Ordinary shares reserved for future issuance	40,317	25,743,890
Warrants
Class of Stock [Line Items]
Ordinary shares reserved for future issuance	20,762,635
Remaining shares available for future issuance under the Company's equity incentive plan
Class of Stock [Line Items]
Ordinary shares reserved for future issuance	9,903,480

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(27)(b))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(28))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-03(i)(2))
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-03(i)(2)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479886/946-10-S99-3

+ Details

Mezzanine Equity (Tables)

9 Months Ended

Dec. 31, 2023

Temporary Equity Disclosure [Abstract]

Summary of Redeemable Convertible Preferred Stock

As of March 31,2023, the redeemable convertible preferred stock consisted of the following:


	Shares issued and outstanding		Per share original issue price	Aggregate conversion amount		Carrying value
Series A		200,000	0.5		100,000		100,000
Series A1		1,265,100	1.5		1,897,650		48,174,279
		1,465,100			1,997,650		48,274,279

Borrowings - Summary of Estimated Fair Value of Working Capital Loan (Details)	Dec. 31, 2023 $ / shares
Debt Disclosure [Abstract]
Closing price	$ 0.07
Open price	0.07
High	0.07
Low	$ 0.07

Summary of Significant Accounting Policies - Schedule of Reconciliation of Cash and Cash Equivalents and Restricted Cash and Cash Equivalents (Details) - USD ($)	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022
Cash and Cash Equivalents [Abstract]
Cash and cash equivalents	$ 9,406,697	$ 589,340	$ 1,283,615
Restricted cash and cash equivalents-current	0	0
Restricted cash and cash equivalents-non-current	$ 427,697	$ 542,490	$ 641,388

Income Taxes - Schedule of Components of Provision for Income Taxes (Details) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Current:
Domestic	$ 0	$ 0	$ 0	$ 0
Foreign	(27,700)	17,214	44,377	22,115
Total	(27,700)	17,214	44,377	22,115
Deferred:
Domestic
Foreign	(99,032)	(65,933)	(137,759)	(68,826)
Total	(99,032)	(65,933)	(137,759)	(68,826)
Provision for income taxes	$ (126,732)	$ (48,719)	$ (93,382)	$ (46,711)

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Business Combinations - Schedule of Major Classes of Assets and Liabilities Allocated to Purchase Price (Details) - USD ($)				9 Months Ended
	Jul. 01, 2023	Jun. 30, 2023	Jun. 06, 2023	Dec. 31, 2023	Dec. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
Business Acquisition [Line Items]
Purchase consideration				$ 1,850,384	$ 602,093
Goodwill				$ 2,142,778		$ 996,441	$ 1,725,292
Global Insurance Management Limited
Business Acquisition [Line Items]
Cash and cash equivalents		$ 10,997,974
Acquired Customer Contract		1,157,920
Other assets		7,157,343
Other liabilities		(15,947,363)
Net assets		3,365,874
Purchase consideration		3,998,000
Goodwill		632,126
National Automobile Club
Business Acquisition [Line Items]
Cash and cash equivalents			$ 182,713
Intangible assets			13,384
Acquired Customer Contract			870,027
Other assets			1,947,606
Other liabilities			(1,215,247)
Net assets			1,798,483
Purchase consideration		$ 2,100,000	2,100,000
Goodwill			$ 301,517
FA Premium Insurance Broking Private Limited
Business Acquisition [Line Items]
Cash and cash equivalents	$ 72,430
Intangible assets	34,754
Other assets	670,182
Other liabilities	(736,298)
Net assets	875,778
Purchase consideration	1,279,820
Goodwill	404,042
FA Premium Insurance Broking Private Limited \| Customer contracts
Business Acquisition [Line Items]
Acquired Customer Contract	20,345
FA Premium Insurance Broking Private Limited \| Distribution network
Business Acquisition [Line Items]
Acquired Customer Contract	$ 814,365

Commitments and Contingencies - Schedule of Maturities of Lease Liabilities (Details)	Dec. 31, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2024	$ 436,030
2025	122,249
2026	124,193
2027	67,548
2028	12,472
Thereafter	33,577
Total Lease Payments	796,069
Less: Imputed Interest	(125,616)
Total	$ 670,453

Condensed Consolidated Statements of Comprehensive Loss - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (30,569,619)	$ 477,429	$ (65,690,663)	$ (9,529,872)
Other comprehensive income, net of tax:
Changes in foreign currency translation reserve	(191,457)	105,059	111,943	298
Less: changes in foreign currency translation reserve attributable to non-controlling interest	697	(16,734)	746	(11,068)
Other comprehensive income (loss) attributable to Roadzen Inc. ordinary shareholders	(192,154)	121,793	111,197	11,366
Total comprehensive loss attributable to Roadzen Inc. ordinary shareholders	$ (30,761,773)	$ 599,222	$ (65,579,466)	$ (9,518,506)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Business Combinations (Tables)

9 Months Ended

Dec. 31, 2023

Business Acquisition [Line Items]

Schedule of Goodwill

Goodwill


	As of December 31, 2023			As of March 31, 2023
Opening balance		996,441			1,725,292
Goodwill relating to acquisitions consummated during the year (Refer Note 19 (a), (b) & (c))		1,337,685			—
Less: Impairment recognized on goodwill during the year		—			(664,903	)
Effect of exchange rate changes		(191,348	)		(63,948	)
Closing balance		2,142,778			996,441

Global Insurance Management Limited

Business Acquisition [Line Items]

Schedule of Major Classes of Assets and Liabilities Allocated to Purchase Price

The major classes of assets and liabilities to which we have allocated the purchase price were as follows:



Cash and cash equivalents	10,997,974
Acquired customer contract (Refer Note 9)	1,157,920
Other assets	7,157,343
Other liabilities	(15,947,363	)
Net assets	3,365,874
Purchase consideration	3,998,000
Goodwill (Refer Note 19(d))	632,126

Schedule of Purchase Price Allocated to Intangible Assets Acquired

Following are details of the purchase price allocated to the intangible assets acquired:


	Amount		Weighted average life
Acquired customer contracts		1,157,920	3 years

National Automobile Club

Business Acquisition [Line Items]

Schedule of Major Classes of Assets and Liabilities Allocated to Purchase Price

The major classes of assets and liabilities to which we have allocated the purchase price were as follows:



Cash and cash equivalents	182,713
Intangible assets	13,384
Acquired customer contract (Refer Note 9)	870,027
Other assets	1,947,606
Other liabilities	(1,215,247	)
Net assets	1,798,483
Purchase consideration	2,100,000
Goodwill (Refer Note 19(d))	301,517

Schedule of Purchase Price Allocated to Intangible Assets Acquired

Following are details of the purchase price allocated to the intangible assets acquired:


	Amount		Weighted average life
Acquired customer contracts		870,027	3 years

FA Premium Insurance Broking Private Limited

Business Acquisition [Line Items]

Schedule of Major Classes of Assets and Liabilities Allocated to Purchase Price

The major classes of assets and liabilities to which we have allocated the purchase price were as follows:



Cash and cash equivalents	72,430
Intangible assets	34,754
Acquired customer contract (Refer Note 9)	20,345
Acquired distribution network (Refer Note 9)	814,365
Other assets	670,182
Other liabilities	(736,298	)
Net assets	875,778
Purchase consideration	1,279,820
Goodwill (Refer Note 19(d))	404,042

Schedule of Purchase Price Allocated to Intangible Assets Acquired

Following are details of the purchase price allocated to the intangible assets acquired:


	Amount		Weighted average life
Acquired distribution network		814,365	3 years
Acquired customer contracts		20,345	3 years

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-Name Accounting Standards Codification
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-Paragraph 1
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-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
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Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
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-Section 50
-Paragraph 1
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-Name Accounting Standards Codification
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-Paragraph 1A
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-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-2

+ Details

Commitments and Contingencies (Tables)

9 Months Ended

Dec. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

Components of Lease Cost

The following tables presents the various components of lease costs:

Schedule of Supplemental Cash Flow Information Related to Leases and Non Cash Flows Arising From Lease Transactions

ii)

The following table presents supplemental information relating to the cash flow and non cash flows arising from lease transactions. Cash payments related to short-term leases are not included in the measurement of operating liabilities, and, as such, are excluded from the amounts below.

        Particulars

        For the
period ended
December 31,
2023

        Cash paid for amounts included in the measurement of lease liabilities:

Operating cash flows from operating leases

59,437

        Right-of-use assets obtained in exchange for lease obligations:

Operating Assets

557,117

Schedule of Balance Sheet Information Related to Leases

iii)

Balance sheet information related to leases is as follows:


Particulars	As of December 31, 2023
Operating Leases:
Operating Lease ROU Asset, net		868,391
		—
Short term liabilities		423,710
Long term liabilities		246,743
Total operating lease liabilities		670,453

Summary of Weighted Average Remaining Lease Terms and Discount Rates

iv)

Weighted Average Remaining Lease Term (In years)

         
        As of
December 31,
2023

Operating leases

5.20

Weighted Average Discount Rate


	As of December 31, 2023
Operating leases		12.72	%

Schedule of Maturities of Lease Liabilities

vi)

Maturities of lease liabilities were as follows:


Particulars	Lease Liabilities (USD)*
For Period Ended December 31 2023
2024		436,030
2025		122,249
2026		124,193
2027		67,548
2028		12,472
Thereafter		33,577
Total Lease Payments		796,069
Less: Imputed Interest		(125,616	)
Total		670,453

* The lease liabilities are translated into U.S. Dollars using the closing rate for the period ended December 31, 2023

Sum Due to Insurer

9 Months Ended

Dec. 31, 2023

Sum Due To Insurer [Abstract]

Sum Due to Insurer

21. Sum due to insurer

Represents the net amounts of premium due to insurer based on the respective contract with each insurer. The net amount due is equal to the gross written premium less the Company’s commission for policies that have reached their effective date. Sum due to insurer includes $8,866,766 as of December 31, 2023, which represents funds from the insurer to meet working capital requirements/contingencies arising out of claim settlement.

Stock Based Compensation (Tables)

9 Months Ended

Dec. 31, 2023

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Summary of Restricted Stock Units Activity

        Stock option activity

        As of
December 31,
2023

        Opening unvested units

Granted

9,903,480

Exercised

-

Cancelled

-

Closing unvested units

9,903,480

Restricted Stock Units (RSUs)

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Schedule of Option Value and Assumption


	As of December 31, 2023
Fair value per share (as of grant date)	$	10.83
Exercise price	$	0
Assumptions:
Volatility		30.82	%
Expected dividends		0.00	%
Expected term (in years)	1.5
Risk free rate		5.24	%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Commitments and Contingencies

9 Months Ended

Dec. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

23. Commitments and contingencies

Commitments

Dividend on preferred stock

As of December 31, 2023, no shares of convertible preferred stock were outstanding. In view of losses, cumulative dividend of $477,101 in respect of Preferred stock of Roadzen (DE) (Series A and A1 stock) was not provided as of March 31, 2023.

Leases - Accounted as per ASC 842 for the Period Ended December 31, 2023

Operating leases

The Company leases office space under non-cancelable operating lease agreements, which expire on various dates through April 2031. Some property leases contain extension options exercisable by the Company. The lease agreements do not contain any material residual value guarantees or material restrictive covenants. Rent expenses for operating leases for the period ended December 31, 2023 was $69,489. The components of lease cost for the period ended December 31, 2023 are summarized below:

The following tables presents the various components of lease costs:

ii)

        Particulars

        For the
period ended
December 31,
2023

        Cash paid for amounts included in the measurement of lease liabilities:

Operating cash flows from operating leases

59,437

        Right-of-use assets obtained in exchange for lease obligations:

Operating Assets

557,117

iii)

Balance sheet information related to leases is as follows:


Particulars	As of December 31, 2023
Operating Leases:
Operating Lease ROU Asset, net		868,391
		—
Short term liabilities		423,710
Long term liabilities		246,743
Total operating lease liabilities		670,453

iv)

Weighted Average Remaining Lease Term (In years)

         
        As of
December 31,
2023

Operating leases

5.20

Weighted Average Discount Rate


	As of December 31, 2023
Operating leases		12.72	%

vi)

Maturities of lease liabilities were as follows:


Particulars	Lease Liabilities (USD)*
For Period Ended December 31 2023
2024		436,030
2025		122,249
2026		124,193
2027		67,548
2028		12,472
Thereafter		33,577
Total Lease Payments		796,069
Less: Imputed Interest		(125,616	)
Total		670,453

* The lease liabilities are translated into U.S. Dollars using the closing rate for the period ended December 31, 2023

Litigation and loss contingencies

From time to time, the Company may be subject to other legal proceedings, claims, investigations, and government inquiries (collectively, "Legal Proceedings") in the ordinary course of business. It may receive claims from third parties asserting, among other things, infringement of their intellectual property rights, defamation, labor and employment rights, privacy, and contractual rights. There are no currently pending Legal Proceedings that the Company believes will have a material adverse impact on the business or consolidated financial statements.

Indemnifications

In the ordinary course of business, the Company enters into contractual arrangements under which the Company agrees to provide indemnification of varying scope and terms to customers, business partners, and other parties with respect to certain matters, including losses arising out of intellectual property infringement claims made by third parties, if the Company has violated applicable laws, if the Company is negligent or commits acts of willful misconduct, and other liabilities with respect to its products and services and its business. In these circumstances, payment is typically conditional on the other party making a claim pursuant to the procedures specified in the particular contract. To date, the Company has not incurred any material costs as a result of such indemnifications and has not accrued any liabilities related to such obligations in its consolidated financial statements.

Commitments and Contingencies - Schedule of Balance Sheet Information Related to Leases (Details) - USD ($)	Dec. 31, 2023	Mar. 31, 2023
Other Commitments [Line Items]
Operating Lease ROU Asset, net	$ 868,391	$ 545,988
Operating Lease, Liability	670,453
Short Term Liabilities [Member]
Other Commitments [Line Items]
Operating Lease, Liability	423,710
Long Term Liabilities [Member]
Other Commitments [Line Items]
Operating Lease, Liability	$ 246,743

Stock Based Compensation

9 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Stock Based Compensation

28. Stock based compensation

The share-based compensation awards issued under the Company’s 2023 Omnibus Incentive Plan to the Company’s employees, officers, directors, are all equity-classified instruments. Restricted stock units ("RSUs") outstanding as of December 31, 2023 have service vesting conditions of one year. Compensation expenses are based on the grant-date fair value of the awards and recognized over the requisite service period using a straight-line method for stock options and a graded vesting method for RSUs. The Company has elected to account for forfeitures of employee stock awards as they occur.

Share-based compensation is in the form of restricted stock units (RSUs). The fair value per RSU is calculated using the Black-Scholes option valuation model.

Option value and assumption


	As of December 31, 2023
Fair value per share (as of grant date)	$	10.83
Exercise price	$	0
Assumptions:
Volatility		30.82	%
Expected dividends		0.00	%
Expected term (in years)	1.5
Risk free rate		5.24	%

        Stock option activity

        As of
December 31,
2023

        Opening unvested units

Granted

9,903,480

Exercised

-

Cancelled

-

Closing unvested units

9,903,480

Stock-based compensation expense related to RSUs granted to employees was $27,253,455 for three months ended December 31, 2023. As of December 31, 2023, the unrecognized compensation expense related to unvested RSUs was approximately $76,777,946 which is expected to be recognized over a weighted-average period of approximately 9 months.

Segment Reporting

9 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Segment Reporting

26. Segment reporting

Operating segments are defined as components of an entity where discrete financial information is evaluated regularly by the chief operating decision maker (“CODM”) in deciding how to allocate resources and in assessing performance. The Company’s CODM reviews financial information presented on a consolidated basis for the purposes of making operating decisions, allocating resources and evaluating financial performance. Accordingly, the Company has determined that it operates in a single reporting segment.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-26

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

+ Details

Prepayments and Other Current Assets (Tables)

9 Months Ended

Dec. 31, 2023

Prepaid Expense and Other Assets, Current [Abstract]

Schedule of Prepayments and Other Current Assets


	As of December 31, 2023		As of March 31, 2023

Balance with statutory authorities		1,239,594		1,189,787
Unbilled revenue		2,134,765		868,382
Advances given (net of doubtful advances of $229,229 as of December 31, 2023 and $225,495 as of March 31, 2023)		3,246,326		922,380
Other receivables		2,918,159		126,928
Prepayments		1,771,555		22,091
Forward purchase agreement		24,462,103		—
Deposits		74,953		52,368
		35,847,455		3,181,936

i) Advances given include:

$344,914 and $0 of loans and advances to related parties as of December 31, 2023 and March 31, 2023, respectively.

ii) Forward purchase agreement

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 December 31, 2023 is as follows:


Volatility		62.80	%
Risk-free rate		3.88	%
Dividend yield		0.00	%
Strike price	10.77
Remaining term (years)	1.25 years

Borrowings

9 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Borrowings

13. Borrowings

Long-term borrowings consist of the following:


	As of December 31, 2023			As of March 31, 2023
Secured debentures (note a)		2,260,838			3,198,569
Loans from banks (note b)		337,561			307,228
Convertible debenture (note c)		403,167			-
Less: current portion of long-term borrowings		(2,393,383	)		(2,852,528	)
		608,183			653,269

Secured debentures:


Particulars	Interest rate			Maturity date	Amount outstanding
Secured debentures		19.50	%	31-May-24		597,282
		19.50	%	31-Jul-24		337,951
		19.25	%	31-May-24		424,509
		20.00	%	31-Jan-24		901,096
						2,260,838

The debentures are secured by a subordinated lien on intellectual property, current assets and movable property and equipment of certain material foreign subsidiaries.

Loans from banks:


Particulars	Interest rate	Maturity date	Amount outstanding
Long-term borrowings from banks
	16.00%	5-Mar-24		2,321
	16.50%	5-Mar-24		2,906
	15.50%	6-Sep-25		19,179
	18.00%	5-Sep-25		19,438
	16.00%	9-Apr-24		10,005
	18.50%	2-Nov-25		16,095
	19.50%	2-Oct-25		12,288
	15.50%	6-Sep-25		19,179
	14.75%	5-Jun-24		7,627
	17.00%	5-Oct-24		13,637
	15.85%	4-May-26		44,373
	8.75%	10-Aug-30		115,619
	15.75%	5-Aug-26		54,894
				337,561

As of December 31, 2023, the aggregate maturities of long-term borrowings (excluding convertible notes) are as follows:


Period ending March 31, 2024								2,298,943
Period ending March 31, 2025								117,270
Period ending March 31, 2026 and onwards								585,353
								3,001,566

c. Convertible debenture

During the quarter ended December 31, 2023, the Company issued a $0.4 million junior unsecured convertible debentures which has maturity date of December 15, 2025. The instrument bears an interest of 13% per annum. Further, the holder of the debenture has the right to convert all or a portion of the unpaid principal amount, together with accrued interest, into fully paid Ordinary Shares at an agreed conversion price of $10.00 per Ordinary Share (subject to adjustments under certain circumstances). The debenture provides the Company with the right to pay interest, at the option of the Company, in cash or in kind.

Short-term borrowings


	As of December 31, 2023		As of March 31, 2023
Loans from banks (note a)		1,901,497		84,587
Loans from related parties		299,031		485,747
Loans from others (note b)		12,965,327		4,305,467
		15,165,855		4,875,801

Loans from banks and others


Particulars	Weighted average borrowing rate
Short-term borrowings from banks and others		12.73	%

b) Loans from others

During the quarter ended June 30, 2023, Roadzen (DE) entered into a $7.5 million senior secured notes agreement with a syndicate of lenders and Mizuho as administrative agent which has a maturity date of June 30, 2024. The secured notes accrue interest of 15% per annum. The syndicate of lenders are entitled to receive a warrant to purchase an agreed number of Ordinary Shares if the loan is not fully repaid by the Roadzen (DE) within six months from the issue date.

As the accounting acquirer Roadzen (DE) is deemed to have assumed the promissory note amounting to $2.46 million at a discount of 10% which was obtained to finance transaction costs in connection with the Business Combination. The promissory note is not

convertible and accrues interest at 20% per annum and is due and payable upon the earlier of the date on which the Company consummates its initial Business Combination or the date of the liquidation of the Company.

As the accounting acquirer, Roadzen (DE) is deemed to have assumed a convertible promissory note amounting to $1.04 million which was obtained to finance transaction costs in connection with a Business Combination. The Convertible Promissory Note is a non-interest bearing instrument and payable upon the consummation of a Business Combination or may be convertible into warrants to purchase Ordinary Shares of the Company at a price of $1.00 per Ordinary Share at the option of the holder. The warrants would be identical to the Private Placement Warrants described in note 17.



Closing price	$	0.07
Open price	$	0.07
High	$	0.07
Low	$	0.07

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

Property and Equipment, Net - Schedule of Property Plant and Equipment, Net (Details) - USD ($)	Dec. 31, 2023	Mar. 31, 2023
Property, Plant and Equipment [Line Items]
Total	$ 1,349,469	$ 620,979
Less: accumulated depreciation	(824,985)	(388,486)
Property and equipment, net	524,484	232,493
Computers [Member]
Property, Plant and Equipment [Line Items]
Total	648,120	370,516
Office equipment
Property, Plant and Equipment [Line Items]
Total	440,230	153,432
Furniture & fixtures
Property, Plant and Equipment [Line Items]
Total	198,364	69,338
Electrical equipment
Property, Plant and Equipment [Line Items]
Total	30,983	6,312
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total	$ 31,772	$ 21,381

Condensed Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2023	Mar. 31, 2023
Temporary equity, shares outstanding		1,465,100
Temporary equity, shares issued		1,465,100
Temporary equity, shares authorized		81,635,738
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	60,000,000	0
Preferred stock, shares issued	0	0
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	220,000,000	108,840,000
Common stock, shares issued	68,440,829	16,501,984
Common stock, shares outstanding	68,440,829	16,501,984
Series A Preferred Stock [Member]
Temporary equity, shares outstanding		39,868,173
Temporary equity, shares issued	0	39,868,173
Temporary equity, par or stated value per share	$ 0.0001
Temporary equity, shares authorized	0	5,442,383
Series A1 Preferred Stock [Member]
Temporary equity, shares outstanding		39,868,173
Temporary equity, shares issued	0	39,868,173
Temporary equity, par or stated value per share	$ 0.0001
Temporary equity, shares authorized	0	76,193,356

Business Combinations - Additional Information (Details) - USD ($)				9 Months Ended		12 Months Ended
	Jul. 01, 2023	Jun. 30, 2023	Jun. 06, 2023	Dec. 31, 2023	Dec. 31, 2022	Mar. 31, 2023
Business Acquisition [Line Items]
Business acquisition, aggregate cash consideration payable				$ 1,850,384	$ 602,093
Business acquisition, cash consideration transferred				5,749,202	$ 0
Goodwill impairment charge						$ 664,903
Foreign Exchange Fluctuation
Business Acquisition [Line Items]
Goodwill impairment charge						$ 24,591
Global Insurance Management Limited
Business Acquisition [Line Items]
Business acquisition, effective date		Jun. 30, 2023
Business acquisition, percentage of equity interests acquired		100.00%
Business acquisition, aggregate cash consideration payable		$ 3,998,000
National Automobile Club
Business Acquisition [Line Items]
Business acquisition, effective date			Jun. 06, 2023
Business acquisition, percentage of equity interests acquired			100.00%
Business acquisition, aggregate cash consideration payable		$ 2,100,000	$ 2,100,000
Business acquisition, cash consideration transferred				1,750,000
FA Premium Insurance Broking Private Limited
Business Acquisition [Line Items]
Business acquisition, effective date	Jul. 01, 2023
Business acquisition, percentage of equity interests acquired	100.00%
Business acquisition, aggregate cash consideration payable	$ 1,279,820
Business acquisition, cash consideration transferred				$ 1,204

Prepayments and Other Current Assets - Schedule of Assumptions Used In Calculating Estimated Fair Value Of Forward Purchase Agreement (Details)	9 Months Ended
	Dec. 31, 2023
Prepaid Expense And Other Assets Current [Line Item]
Remaining term (years)	1 year 3 months
Forward Purchase Agreement Asset [Member] \| Volatility
Prepaid Expense And Other Assets Current [Line Item]
Fair value of forward purchase agreement asset	62.8
Forward Purchase Agreement Asset [Member] \| Risk-free rate
Prepaid Expense And Other Assets Current [Line Item]
Fair value of forward purchase agreement asset	3.88
Forward Purchase Agreement Asset [Member] \| Dividend yield
Prepaid Expense And Other Assets Current [Line Item]
Fair value of forward purchase agreement asset	0
Forward Purchase Agreement Asset [Member] \| Strike price
Prepaid Expense And Other Assets Current [Line Item]
Fair value of forward purchase agreement asset	10.77

Other Long Term Assets (Tables)

9 Months Ended

Dec. 31, 2023

Other Assets, Noncurrent [Abstract]

Schedule of Other Long Term Assets


	As of December 31, 2023		As of March 31, 2023
Deposits		21,993		25,890
Advances		140,055		-
Interest accrued		13,591		9,249
Deferred tax assets (refer note 25)		160,309		82,345
		335,948		117,484

Other Long Term Liabilities - Summary of Other Long Term Liabilities (Details) - USD ($)	Dec. 31, 2023	Mar. 31, 2023	Mar. 31, 2022
Other Liabilities Disclosure [Abstract]
Retirement benefits	$ 399,510	$ 294,301
Deferred tax liability	363,153		$ 47,626
Deferred tax liability	523,462
Total	$ 922,972	$ 294,301

Reorganization and Description of Business

9 Months Ended

Dec. 31, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Reorganization and Description of Business

1. Reorganization and description of business

Roadzen Inc., a British Virgin Islands business company (the “Parent Company”, formerly known as Vahanna Tech Edge Acquisition I Corp; and sometimes referred to in this filing as "Vahanna") has subsidiaries located in India, the United States and the United Kingdom. The Company is a leading Insurtech platform and provides solutions in relation to insurance products, including distribution, pre-inspection assistance, telematics, claims submission and administration, and roadside assistance. The consolidated financial statements include the accounts of Roadzen Inc. and its subsidiaries (collectively, "Roadzen" or the "Company”).

Merger agreement

On September 20, 2023 (the “Closing Date”), Vahanna, Roadzen, Inc., a Delaware corporation (“Roadzen (DE)”), and Vahanna Merger Sub Corp., a Delaware corporation and a direct, wholly owned subsidiary of Vahanna (“Merger Sub”), consummated the previously announced Business Combination (as defined below) pursuant to the Agreement and Plan of Merger, dated February 10, 2023, by and among Vahanna, Roadzen (DE) and Merger Sub (the “Initial Merger Agreement”), as amended by the First Amendment to the Agreement and Plan of Merger, dated June 29, 2023 (the “Merger Agreement Amendment;” the Initial Merger Agreement as amended by the Merger Agreement Amendment, the “Merger Agreement”). Pursuant to the terms of the Merger Agreement, Merger Sub merged with and into Roadzen (DE), with Roadzen (DE) surviving the merger as a wholly owned subsidiary of Vahanna (the “Merger,” and together with the other transactions contemplated by the Merger Agreement and the other agreements contemplated thereby, the “Business Combination”).

In connection with the Closing (as defined below), and pursuant to the terms of the Merger Agreement, equity interests in Vahanna and Roadzen (DE) were converted into ordinary shares of Parent Company, $0.0001 par value ("Ordinary Shares") as follows: (i) each outstanding share of common stock of Roadzen (DE) including shares of common stock issued upon conversion of each outstanding share of Roadzen (DE)’s convertible preferred stock, was cancelled and converted into 27.21 Ordinary Shares, (ii) each restricted stock unit of Roadzen (DE) (“Roadzen (DE) RSU”) was assumed and converted into the right to receive 27.21 restricted stock units of the Parent Company (each, a “RDZN RSU”) and were assumed as Substitute Awards under the Roadzen Inc. 2023 Omnibus Incentive Plan, (iii) each equity security of Roadzen (DE) other than Roadzen (DE) common stock and Roadzen (DE) RSUs (each, a “Roadzen (DE) Additional Security”) was assumed and converted into the right to receive equity interests that may vest, settle, convert or be exercised into 27.21 Ordinary Shares, (iv) each share of common stock of Merger Sub issued and outstanding immediately prior to the Closing was cancelled, retired and ceased to exist, and (v) each ordinary share of Vahanna (each, a “Vahanna Ordinary Share”) issued and outstanding immediately prior to the Closing and not redeemed in connection with the Redemption (as defined below) remained outstanding and is now one Ordinary Share.

Further, in connection with the consummation of the Business Combination (the “Closing”), Vahanna changed its name to “Roadzen Inc.”. Beginning on September 22, 2023, the Company’s Ordinary Shares and warrants trade on the Nasdaq Global Market and Nasdaq Capital Market under the ticker symbol “RDZN” and “RDZNW” respectively.

The Company determined that Roadzen (DE) was the accounting acquirer in the Business Combination based on an analysis of the criteria outlined in Accounting Standards Codification 805. The determination was primarily based on the following facts:

- Roadzen (DE) stockholders having a controlling voting interest in the Company;

- Roadzen (DE) existing management team serving as the initial management team of the Company and holding a majority of the initial board of directors of the Company;

- Roadzen (DE) management continuing to hold executive management roles for the post-combination company and being responsible for the day-to-day operations; and

- Roadzen (DE) operations comprising the ongoing operations of the Company.

Accordingly, for accounting purposes, the Business Combination was treated as the equivalent of Roadzen (DE) issuing stock for the net assets of Vahanna, accompanied by a recapitalization. The primary assets acquired from Vahanna related to cash amounts and a forward purchase agreement ("FPA") that was assumed at fair value upon closing of the Business Combination. No goodwill or other intangible assets were recorded as a result of the Business Combination.

While Vahanna was the legal acquirer in the Business Combination, because Roadzen (DE) was deemed the accounting acquirer, the historical financial statements of Roadzen (DE) became the historical financial statements of the combined company upon the

consummation of the Business Combination. As a result, the financial statements reflect (i) the historical operating results of Roadzen (DE) prior to the Business Combination; (ii) the combined results of Vahanna and Roadzen (DE) following the closing of the Business Combination; (iii) the assets and liabilities of Roadzen (DE) at their historical cost; and (iv) the Company’s equity structure for all periods presented.

In accordance with guidance applicable to these circumstances, the equity structure has been retroactively restated in all comparative periods up to the Closing Date, to reflect the number of Ordinary Shares issued to Roadzen (DE) common shareholders, Roadzen (DE) convertible preferred shareholders and holders of Vahanna ordinary shares not redeemed in connection with the Redemption. As such, the shares and corresponding capital amounts and earnings per share related to Roadzen (DE) convertible preferred stock, the common stock of Roadzen (DE) and Vahanna Ordinary Shares not redeemed in connection with the Redemption prior to the Business Combination have been retroactively restated as shares reflecting the exchange ratio established in the Business Combination.

Financial instruments - Schedule of Financial Instruments Measured at Fair Value on Recurring Basis (Details) - Recurring [Member]	Dec. 31, 2023 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	$ 1,029,374
Financial assets	24,462,103
Convertible Promissory Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	1,029,374
Forward Purchase Agreement [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	24,462,103
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	1,029,374
Level 1 [Member] \| Convertible Promissory Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	1,029,374
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	24,462,103
Level 3 [Member] \| Forward Purchase Agreement [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	$ 24,462,103

Recapitalization (Tables)

9 Months Ended

Dec. 31, 2023

Restructuring and Related Activities [Abstract]

Summary of Business Acquisition Elements Reconciled to Consolidated Financial Statements


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 FPA)	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 Ordinary Shares Issued Immediately Following the Consummation of the Business Combination

The number of Ordinary Shares 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	9,903,480

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

Stock Based Compensation - Schedule of Option Value and Assumption (Details) - Restricted Stock Units (RSUs) - 2023 Omnibus Incentive Plan	9 Months Ended
	Dec. 31, 2023 $ / shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Fair value per share (as of grant date)	$ 10.83
Exercise price	$ 0
Volatility	30.82%
Expected dividends	0.00%
Expected term (in years)	1 year 6 months
Risk free rate	5.24%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Commitments and Contingencies - Schedule of Supplemental Cash Flow Information Related to Leases and Non Cash Flows Arising From Lease Transactions (Details)	9 Months Ended
	Dec. 31, 2023 USD ($)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 59,437
Right-of-use assets obtained in exchange for lease obligations:
Operating Assets	$ 557,117

Condensed Balance Sheets - USD ($)	Dec. 31, 2023	Mar. 31, 2023
Current assets:
Cash and cash equivalents	$ 9,406,697	$ 589,340
Accounts receivable, net	7,142,624	1,535,985
Inventories	29,333	59,897
Prepayments and other current assets	35,847,455	3,181,936
Investments	501,812
Total current assets	52,927,921	5,367,158
Restricted cash	427,697	542,490
Non marketable securities	4,910,030	4,910,030
Property and equipment, net	524,484	232,493
Goodwill	2,142,778	996,441
Operating lease right-of-use assets	868,391	545,988
Intangible assets, net	4,497,636	2,469,158
Other long term assets	335,948	117,484
Total Assets	66,634,885	15,181,242
Current Liabilities:
Current portion of long-term borrowings	2,393,383	2,852,528
Short term borrowings	15,165,855	4,875,801
Due to insurer	8,866,766
Accounts payable and accrued expenses	30,582,855	6,241,066
Short-term operating lease liabilities	423,710	208,697
Other current liabilities	8,737,264	2,503,893
Total Current Liabilities	66,169,833	16,681,985
Long term borrowings	608,183	653,269
Long-term operating lease liabilities	246,743	360,306
Other long term liabilities	922,972	294,301
Total Liabilities	67,947,731	17,989,861
Commitments and contingencies (refer note 23)
None authorized or issued as of December 31, 2023; Series A and A1 Preferred stock and additional paid in capital, $0.0001 par value per share, 81,635,738 shares authorized (Series A 5,442,383 and Series A1 76,193,356); 39,868,173 shares issued and outstanding as on March 31, 2023.		48,274,279
Shareholders' Deficit:
Preference shares, $0.0001 par value per share, 60,000,000 shares authorized and none issued as of December 31, 2023 and none authorized or issued as of March 31, 2023
Ordinary Shares Value	84,980,325	303,213
Accumulated deficit	(117,034,658)	(51,448,299)
Accumulated other comprehensive income/(loss)	44,294	(66,903)
Other components of equity	31,042,146	366,786
Total shareholders' deficit	(967,893)	(50,845,203)
Non controlling interest	(344,953)	(237,695)
Total deficit	(1,312,846)	(51,082,898)
Total liabilities, Mezzanine equity and Shareholders' deficit, Non-controlling interest	$ 66,634,885	$ 15,181,242

Commitments and Contingencies - Summary of Weighted Average Remaining Lease Terms and Discount Rates (Details)	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Weighted-average remaining lease term - operating leases	5 years 2 months 12 days
Weighted-average discount rate - operating leases	12.72%

Income Taxes

9 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Income Taxes

25. Income taxes

The Company's net loss before provision for income taxes for the three months and nine months periods ended December 31, 2023 and December 31, 2022 was as follows:


Particulars	For the three months ended December 31, 2023			For the three months ended December 31, 2022			For the nine months ended December 31, 2023			For the nine months ended December 31, 2022
Domestic		(28,679,087	)		2,796,117			(61,637,236	)		(5,806,071	)
Foreign		(2,058,059	)		(2,450,329	)		(4,254,813	)		(3,932,603	)
Total		(30,737,146	)		345,788			(65,892,049	)		(9,738,674	)

The components of the provision for income taxes for the three months and nine months periods ended December 31, 2023 and December 31, 2022 were as follows:


Particulars	For the three months ended December 31, 2023			For the three months ended December 31, 2022			For the nine months ended December 31, 2023			For the nine months ended December 31, 2022
Current:
Domestic		—			—			—			—
Foreign		(27,700	)		17,214			44,377			22,115
		(27,700	)		17,214			44,377			22,115
Deferred:
Domestic		—			—			—			—
Foreign		(99,032	)		(65,933	)		(137,759	)		(68,826	)
		(99,032	)		(65,933	)		(137,759	)		(68,826	)

Total provision for income taxes		(126,732	)		(48,719	)		(93,382	)		(46,711	)


Particulars	For the three months ended December 31, 2023			For the three months ended December 31, 2022			For the nine months ended December 31, 2023			For the nine months ended December 31, 2022
Federal statutory income tax rate		21.00	%		21.00	%		21.00	%		21.00	%
Non deductible expenses		0.03	%		26.80	%		4.98	%		(2.93	%)
Valuation allowance		(20.51	%)		0.82	%		(25.73	%)		(19.41	%)
Foreign rate differential		(0.16	%)		(27.81	%)		(0.17	%)		1.64	%
Share warrants		0.00	%		2.01	%		0.00	%		(0.07	%)
Other		0.05	%		(36.91	%)		0.06	%		0.25	%
Total provision for income taxes		0.41	%		(14.09	%)		0.14	%		0.48	%

The components of the Company’s net deferred tax assets as of the nine months period ended December 31, 2023 and year ended March 31, 2023 were as follows:


Particulars	As of December 31, 2023			As of March 31, 2023
Deferred tax assets:
Net operating loss carry forwards		25,134,198			8,480,316
Unabsorbed depreciation carry forwards		107,160			54,438
Retirement benefits		74,587			56,603
Depreciation and amortization		124,269			50,918
Others		241,303			5,965
Total deferred tax assets		25,681,517			8,648,240
Less: valuation allowance		(25,521,208	)		(8,565,895	)
Deferred tax assets, net of valuation allowance		160,309			82,345
Deferred tax liabilities:
Intangibles on account of business combination		(523,462	)		—
Net deferred tax assets/ (liabilities)		(363,153	)		82,345

Movement in net deferred tax assets:


	As of March 31, 2023			Recognized/ reversed through statements of operations			Impact of currency translation and acquisitions			As of December 31, 2023
Deferred tax assets:
Net operating loss carry forwards		8,480,316			16,653,882			—			25,134,198
Unabsorbed depreciation carry forwards		54,438			52,722			—			107,160
Retirement benefits		56,603			17,984			—			74,587
Depreciation and amortization		50,918			73,351			—			124,269
Fair value changes on convertible notes		—			—			—			—
Others		5,965			235,338			—			241,303
Less: valuation allowance		(8,565,895	)		(16,955,313	)		—			(25,521,208	)
Deferred tax liabilities:
Intangibles on account of business combination		—			(523,462	)		—			(523,462	)
Acquisitions		—			606,512			(606,512	)		—
Currency translation		—			(23,255	)		23,255			—
Net deferred tax assets/ (liabilities)		82,345			137,759			(583,257	)		(363,153	)


Particulars	As of March 31, 2022			Recognized/ reversed through statements of operations			Impact of currency translation and acquisitions		As of March 31, 2023
Deferred tax assets:
Net operating loss carry forwards		5,742,033			2,738,283			—		8,480,316
Unabsorbed depreciation carry forwards		9,174			45,264			—		54,438
Retirement benefits		53,656			2,947			—		56,603
Depreciation and amortization		25,232			25,686			—		50,918
Fair value changes on convertible notes		3,967			(3,967	)		—		—
Others		288,348			(282,383	)		—		5,965
Less: valuation allowance		(6,052,307	)		(2,513,588	)		—		(8,565,895	)
Deferred tax liabilities:
Intangibles on account of business combination		(117,729	)		117,729			—		—
Currency translation		—			(1,286	)		1,286		—
		(47,626	)		128,685			1,286		82,345

The Company regularly reviews its deferred tax assets for recoverability based on historical taxable income, projected future taxable income, the expected timing of the reversals of existing taxable temporary differences and tax planning strategies. The Company's judgement regarding future profitability may change due to many factors, including future market conditions and the ability to successfully execute the business plans and/or tax planning strategies. Should there be a change in the ability to recover deferred tax assets, the Company's income tax provision would increase or decrease in the period in which the assessment is changed. The Company's valuation allowance increased by $16,955,313 during the nine months ended December 31, 2023 and $2,515,200 during the year ended March 31, 2023.

The Company has not provided U.S. income taxes and foreign withholding taxes on undistributed earnings of foreign subsidiaries because the Company intends to permanently reinvest such earnings outside the U.S.

Net operating loss and credit carry forwards

As of December 31, 2023, the Company has U.S. federal net operating loss carry forwards of approximately $85,158,720, of which none are subject to limitation under Internal Revenue Code Section 382 (IRC Section 382). The federal net operating loss carry forwards that were generated prior to the 2018 tax year will begin to expire in 2030 if not utilized. For net operating loss carry forwards arising in tax years beginning after December 31, 2017, the tax act limits the Company's ability to utilize carryforwards to 80% of taxable income, however, these operating losses may be carried forward indefinitely. The state (Delaware) net operating loss carry forwards will begin to expire in 2032 if not utilized. The Company has foreign tax credits which will expire at the end of 8 years from the end of the assessment year in which these tax credits were originated.

Utilization of the net operating loss carry forwards may be subject to a substantial annual limitation due to the ownership change provisions of IRC Section 382 and similar state provisions. The annual limitation may result in the inability to fully offset future annual

taxable income and could result in the expiration of net operating loss carryforwards before utilization. The Company continually reviews the impact to net operating losses of any ownership changes.

Unrecognized tax benefits

The Company has adopted authoritative guidance which prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of uncertain tax positions taken or expected to be taken in the Company’s income tax return, and also provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition. The Company did not have any unrecognized tax benefits with a significant impact on its financial statements as of December 31, 2023 and 2022.

The Company's major tax jurisdictions are India, the United Kingdom and the U.S. The U.S. federal, state and foreign jurisdictions have statutes of limitations that generally range from three to six years. Due to the Company's net losses, substantially all of its federal and state income tax returns are subject to examination for federal and state purposes.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

Non-Marketable Securities

9 Months Ended

Dec. 31, 2023

Equity Method Investments and Joint Ventures [Abstract]

Non-Marketable Securities

7. Non-marketable securities

Moonshot - Internet SAS ("Moonshot")

Roadzen (DE) has invested $2,410,000 representing a 6.68% equity stake in Moonshot - Internet SAS, a simplified Joint Stock Company existing under the laws of France, which is a subsidiary of Société Générale. Moonshot is an Insurtech company, registered as an insurance broker, which specializes in usage-based insurance products and services dedicated to E-Commerce. Roadzen (DE) has a representative on the board of directors of Moonshot, however, the investment of 6.68% does not give Roadzen (DE) the ability to significantly influence the operating and financial policies of Moonshot, since majority ownership of Moonshot is concentrated with a single shareholder. Therefore, Roadzen (DE) uses the measurement alternative for equity investments without readily determinable fair values for its investment in Moonshot. The Company carries this investment at cost, less impairment.

Daokang (Beijing) Data Science Company Ltd. ("Daokang")

Roadzen (DE) entered into a joint venture contract with WI Harper VIII LLP and Shangrao Langtai Daokang Information Technology Co. Ltd. and invested an amount of $2,500,030 (representing a 34.5% of equity interest) of Daokang. Despite its significant equity interest in Daokang, Roadzen (DE) has attempted but has not been able to obtain adequate financial information as per U.S. GAAP to apply equity method. Roadzen (DE), therefore, was unable to exercise significant influence over the operating and financial policies of Daokang. Accordingly, Roadzen (DE) used the measurement alternative for equity investments without readily determinable fair values for its investment in Daokang. The Company carries this investment at cost, less impairment.

The Company evaluates its non-marketable equity securities for impairment in each reporting period based on a qualitative assessment that considers various potential impairment indicators. This evaluation consists of several factors including, but not limited to, an assessment of significant adverse change in the economic environment, significant adverse changes in the general market condition of the geographies and industries in which our investees operate, and other available financial information as per the local reporting requirements applicable to the relevant jurisdictions that affects the value of our non-marketable equity securities. Based on such assessment, the Company has concluded that there is no impairment in carrying value of its non-marketable securities.

Accounts Receivables, Net - Summary of Account Receivables, Allowance for Credit Accounts (Details) - USD ($)	9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Receivables [Abstract]
Balance, beginning of period	$ 13,726	$ 14,884
Additions charged	232,866
Existing allowance in acquired entities	49,810
Reversal of existing allowance	(19,759)
Effect of exchange rate changes	(14,199)	(1,158)
Balance, end of period	$ 262,444	$ 13,726

Revenue (Tables)

9 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

Schedule of Summarizes Revenue By The Company's Service

The following table summarizes revenue by the Company's service offerings:


	For the three months ended December 31, 2023		For the three months ended December 31, 2022		For the nine months ended December 31, 2023		For the nine months ended December 31, 2022
Revenue from services
Commission and Distribution Income		8,157,336		2,785,167		17,617,282		6,804,247
Income from Insurance as a Service		7,484,105		531,478		19,105,650		1,750,146
		15,641,441		3,316,645		36,722,932		8,554,393

Summary of Contract Liabilities from Contract with Customers

The following table provides information about receivables and contract liabilities from contracts with customers:


	As of December 31, 2023		As of March 31, 2023
Contract liabilities
Deferred revenue		1,423,827		108,442
Total contract liabilities		1,423,827		108,442
Contract assets
Unbilled revenue		2,134,765		868,382
Total contract assets		2,134,765		868,382