Company: ZCARW
Filing Date: 2025-03-28
Form Type: DRS
Source: 0001013762-25-003498
Chunk: 114

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-28
Form: DRS
Chunk 114
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 and commissions.

The actual allocation of
proceeds realized from this offering will depend upon our operating revenue, cash position, our working capital requirements. Therefore,
as of the date of this prospectus, we cannot specify with certainty all of the particular uses for the net proceeds to be received upon
the completion of this offering. Accordingly, we will have discretion in the application of the net proceeds, and investors will be relying
on our judgment regarding the application of the proceeds of this offering. Pending our use of the net proceeds from this offering, we
intend to invest the net proceeds in a variety of capital preservation investments, including short-term, investment-grade, interest-bearing
instruments and U.S. government securities.

<div align='center'>58

CAPITALIZATION</div>

The following table sets
forth our cash and cash equivalents and consolidated capitalization as of December 31, 2024:

| ● | On an actual basis;                                                                                                                                                                                                                                                                                                                                  |
| ● | On a pro forma basis, giving effect to                                                    ; and                                                                                                                                                                                                                                                      |
| ● | On a pro forma as adjusted basis to give effect to reflect the issuance and sale by us of $25,000,000 in units in this offering at the assumed public offering price of $         per unit, after deducting underwriting discounts and commissions and estimated offering expenses payable by us and the receipt by us of the proceeds of such sale. |

The pro forma as adjusted
information in the balance sheet data below is illustrative only. You should read this table together with the section entitled “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and our unaudited interim condensed consolidated financial
statements and related notes as of December 31, 2024, which are included elsewhere in this prospectus.

|                                                                                                                                                                                                                |     | As of December 31, 2024 |     |           |     |             |
|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:----|:------------------------|:----|:----------|:----|:------------|
|                                                                                                                                                                                                                |     | Unaudited,              
 Actual                  |     | Pro Forma |     | Unaudited,  
 Pro Forma   
 As Adjusted |
| Cash and cash equivalents                                                                                                                                                                                      |     | $                       |     |           |     |             |
| Total Current Liabilities                                                                                                                                                                                      |     |                         |     |           |     |             |
| Stockholders’ Equity:                                                                                                                                                                                          |     |                         |     |           |     |             |
| Common