Company: ZCARW
Filing Date: 2025-05-05
Form Type: S-1
Source: 0001213900-25-039778
Chunk: 373

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-05-05
Form: S-1
Chunk 373
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 was not accreted to redemption value because then it was not probable that the non-controlling interest will become redeemable.

The Company did not attributed the pro rata share of the Indian subsidiary’s loss to the redeemable non-controlling interests because these shares were entitled to a liquidation preference and therefore did not participate in losses that would cause their interest to be below the liquidation preference. Upon liquidation, these preferred stocks were entitled to the greater of either (i) the Original issue price for such series plus any dividend declared but unpaid thereon, or (ii) such amount per share as would have been payable had all shares of such series been converted into common stock immediately prior to such liquidation, dissolution, winding up or deemed liquidation event.

There was no further issue of preferred stock in the Indian subsidiary after initial issuance and on the close of the Reverse Recapitalization, these Redeemable non-controlling interests have been converted into Common Stock of the Company at the Exchange Ratio of 0.0284.

| 25 | Revenue |

The components of revenue, net were as follows:

| (In USD)                   |     | March 
 31,   
 2024  |           |     | March 
 31,   
 2023  |           |
|:---------------------------|:----|:------|----------:|:----|:------|----------:|
| Income from rentals        |     |       |           |     |       |           |
| Self-drive rentals         |     | $     |         - |     | $     |   165,834 |
| Revenues from services     |     |       |           |     |       |           |
| Facilitation revenue (net) |     |       | 9,836,434 |     |       | 8,586,785 |
| Other                      
 operating revenues         |     |       |    60,799 |     |       |    73,587 |
| Total                      |     |       | 9,897,233 |     |       | 8,826,206 |

| Revenue                  
 by geographical location |     |   |     March 
       31, 
      2024 |     |   |     March 
       31, 
      2023 |
|:-------------------------|:----|:--|----------:|:----|:--|----------:|
| India                    |     | $ | 9,759,318 |     | $ |