Company: ZCARW
Filing Date: 2025-03-28
Form Type: DRS
Source: 0001013762-25-003498
Chunk: 2

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-28
Form: DRS
Chunk 2
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 to sell these securities and we are not soliciting an offer to buy these securities in any state or jurisdiction where the offer or sale is not permitted.

<div align='center'>Preliminary Prospectus

SUBJECT TO COMPLETION, DATED MARCH 27, 2025

ZOOMCAR HOLDINGS, INC.

$25,000,000

Up to Units, Each Unit Consisting of One Common Share and One Series A Warrant

Up to Pre-Funded Units, Each Pre-Funded Units Consisting of One Pre-Funded Warrant and One Series A Warrant

Up to Common Shares Underlying the Pre-Funded Warrants

Up to Common Shares Underlying Series A Warrants*</div>

This is a firm commitment
public offering of units of Zoomcar Holdings, Inc. (the “Company,” “ZCAR,”
the “registrant,” “we,” “our” or “us”). We are offering units (the “Units”),
each Unit consisting of: (i) one common share; and (ii) one Series A Warrant to purchase one common share for cash or otherwise acquire
such greater number of common shares as determined in accordance with the provisions of the Series A Warrant upon an alternate cashless
exercise option (the “Series A Warrants”). Each Series A Warrant is exercisable at an initial exercise price of $ per share
(150% of the public offering price per Unit). The Series A Warrants will be exercisable from issuance and will expire two and one-half
(2.5) years after issuance. See “Description of Our Securities.” We are offering each Unit at an assumed public offering
price of $ per Unit.

*Under the alternate cashless
exercise option of the Series A Warrants, during the period of 90 calendar days following the issue date of the Series A Warrants, a holder
of the Series A Warrant has the right to receive, without payment of any additional cash to the Company, an aggregate number of shares
equal to the product of (x) the aggregate number of common shares that would be issuable upon a cash exercise of the Series A Warrant
and (y) two and a half (2.5). Accordingly, we believe it is highly unlikely that a holder of the Series A Warrants would pay an exercise
price in cash to receive one common share when the holder could instead choose the alternate cashless exercise option and pay no cash
to receive 2.5 common shares.