Company: ZCARW
Filing Date: 2025-03-28
Form Type: DRS
Source: 0001013762-25-003498
Chunk: 253

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-28
Form: DRS
Chunk 253
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 common share immediately after this offering.

Our net tangible book value
is determined by dividing our total tangible assets, less total liabilities, by the number of our common shares outstanding as of December
31, 2024. Our net tangible book value as of December 31, 2024, was $[ ], or negative $[ ]
per common share. Dilution in net tangible book value per share represents the difference between the amount per share paid by purchasers
of units in this offering and the net tangible book value per share of our common shares immediately after this offering. On a pro forma
basis, giving effect to the issuance of an aggregate of common shares after December 31, 2024 and as of the date of this filing, in connection
with .

After giving effect to the
offering and our sale of the units at an assumed public offering price of $ per unit, and after
deduction of underwriting discounts and commissions from gross proceeds raised in the offering and estimated offering expenses payable
by us, our pro forma, as adjusted net tangible book value as of December 31, 2024, would have been approximately $
, or approximately negative $ per common share. This represents an immediate increase in net
tangible book value of approximately $ per common share to our existing security holders and
an immediate dilution in as adjusted net tangible book value of approximately $ per share to
purchasers of our securities in this offering, as illustrated by the following table:

| Offering price per unit                                                                                                                                 
 Net tangible book value per share as of December 31, 2024                                                                                               
 Increase in net tangible book value per common share attributable to existing shareholders due to the issuance of common shares after December 31, 2024 |
|:--------------------------------------------------------------------------------------------------------------------------------------------------------|
| Pro forma net tangible book value per common share before this offering (as of December 31, 2024)                                                       |
| Increase in net tangible book value per share attributable to this offering                                                                             |
| Pro forma, as adjusted net tangible book value per share as of December 31, 2024, after giving effect to this offering                                  |
| Dilution in pro forma, as adjusted net tangible book value per share to investors participating in this offering                                        |

A $1.00 increase or decrease
in the assumed public offering price of $ per Unit would correspondingly increase or decrease
the pro forma, as adjusted net tangible book value per share by $ , and the dilution in pro
forma, as adjusted net tangible book value per share