Company: ZCARW
Filing Date: 2025-05-12
Form Type: S-1/A
Source: 0001213900-25-041769
Chunk: 347

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-05-12
Form: S-1/A
Chunk 347
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 | Reverse Stock Split |

| (a) | First Reverse Stock Split |

The Company’s shareholders authorized, and the Board of Directors
approved for a Reverse Stock Split (the “First Reverse Stock Split”), which became effective on October 21, 2024.
Any fractional shares that would have otherwise resulted from the First Reverse Stock Split were rounded up to the nearest whole share.

Every shares of issued and outstanding Common Stock
has been consolidated into share, without affecting the par value. In addition, (i) a proportionate adjustment has been made to the
number of outstanding warrants, per share exercise price and the number of shares issuable upon the exercise of all outstanding stock
options and warrants to purchase shares of common stock as per the terms and conditions of the respective warrant agreements, and (ii)
the number of shares reserved for issuance pursuant to the Company’s equity incentive plans will also be reduced proportionately.

| (b) | Second Reverse Stock Split |

The Company’s shareholders authorized, and the Board
of Directors approved for a 1-for-20 Reverse Stock Split (the “Second Reverse Stock Split”), which became effective on March
21, 2025. Any fractional shares that would have otherwise resulted from the Second Reverse Stock Split were rounded up to the nearest
whole share.

Every shares of issued and
outstanding Common Stock has been consolidated into share, without affecting the par value. In addition, (i) a proportionate adjustment
has been made to the number of outstanding warrants, per share exercise price and the number of shares issuable upon the exercise of all
outstanding stock options and warrants to purchase shares of common stock as per the terms and conditions of the respective warrant agreements,
and (ii) the number of shares reserved for issuance pursuant to the Company’s equity incentive plans will also be reduced proportionately.

Accordingly, all share and per share amounts for all periods
presented in the accompanying consolidated financial statements and notes thereto have been adjusted retroactively, where applicable,
to reflect this First Reverse Stock Split and Second Reverse Stock Split and adjustment of the stock conversion ratios.

(This space has been left intentionally blank) F-79 ZOOMCAR HOLDINGS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

| 5 | Cash                 
 and cash equivalents |

The components of cash and cash equivalents were as follows:

(In USD)

|                           | As 
 at |   |     March 
       31, 
      2024 |     |   |     March 
       31,