Company: ZCARW
Filing Date: 2025-05-12
Form Type: S-1/A
Source: 0001213900-25-041769
Chunk: 292

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-05-12
Form: S-1/A
Chunk 292
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”). Along with a cash fee, the Company has issued to the placement agent, warrants to purchase
% of the shares of Common Stock and shares of Common Stock underlying the Pre-funded Warrants*; Series A Warrants equal to % of the
Series A Warrants sold at closing and Series B Warrants equal to % of the Series B Warrants issued at or following the Reset Date.

After considering the impact of Second Reverse Stock Split,
common shares, Pre-Funded Warrants and Series A warrants have been issued during the December 2024 Offering.

| * | 17,624 (351,593 prior to Second Reverse Stock Split) warrants                                                                          
 to the placement agent as a part of compensation for services rendered in connection with the December 2024 offering. These warrants   
 are each exercisable at an exercise price of $39.00 ($1.95 prior to Second Reverse Stock Split) per share and are classified as equity 
 instruments.                                                                                                                           |

The common units and pre-funded units are issued at
a price of $ ($ prior to Second Reverse Stock Split) and $ ($ prior to Second Reverse Stock Split) respectively.
Pre-funded warrants can be exercised at any time. The exercise price for the pre-funded warrants is $ ($ prior to Second Reverse
Stock Split), which is to be paid by the warrant holder at the time of exercise of these warrants.

The holders of Common Stock are entitled
to vote per share on all matters submitted to the stockholders for their vote or approval. On all matters to be voted upon, holders
of Common Stock and holders of Preferred Stock will vote together as a single class. They are entitled to receive dividends at the discretion
of the Board of Directors. In the event of liquidation, after paying debts and any preferential amounts to Preferred Stockholders, Common
Stockholders are entitled to share in the remaining assets ratably.

(This space has been left intentionally blank) F-34 ZOOMCAR HOLDINGS, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

| 22 | Derivative financial instruments |

The following is a summary of the Company’s derivative
financial instruments as of December 31, 2024 and March 31, 2024:

| (In USD)                       
 As at                          |     | Fair Value Outstanding 
 December 31,           
 2024                   |           |     | March 31, 
 2024      |   |
|:-------------------------------|:----|:-----------------------