# EDGAR Filing Document

**Accession Number:** 0001868640
**File Stem:** 0001493152-25-025352
**Filing Date:** 2025-11
**Character Count:** 44610
**Document Hash:** 25959eb49f1104c3da36a457b6cab54e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001493152-25-025352.hdr.sgml**: 20251128

**ACCESSION NUMBER**: 0001493152-25-025352

**CONFORMED SUBMISSION TYPE**: S-8

**PUBLIC DOCUMENT COUNT**: 19

**FILED AS OF DATE**: 20251128

**DATE AS OF CHANGE**: 20251128

**EFFECTIVENESS DATE**: 20251128

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Roadzen Inc.
- **CENTRAL INDEX KEY:** 0001868640
- **STANDARD INDUSTRIAL CLASSIFICATION:** INSURANCE AGENTS BROKERS & SERVICES [6411]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 981600102
- **STATE OF INCORPORATION:** D8
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** S-8
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-291841
- **FILM NUMBER:** 251534407

**BUSINESS ADDRESS:**
- **STREET 1:** 111 ANZA BLVD., SUITE 109
- **CITY:** BURLINGAME
- **STATE:** CA
- **ZIP:** 94010
- **BUSINESS PHONE:** 650-414-3530

**MAIL ADDRESS:**
- **STREET 1:** 111 ANZA BLVD., SUITE 109
- **CITY:** BURLINGAME
- **STATE:** CA
- **ZIP:** 94010

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Vahanna Tech Edge Acquisition I Corp.
- **DATE OF NAME CHANGE:** 20210621

**As filed with the Securities and Exchange Commission on November 28, 2025**

**Registration No. 333-**

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549**

**FORM S-8**

**REGISTRATION STATEMENT**

***UNDER***

***THE SECURITIES ACT OF 1933***

**ROADZEN INC.**

**(Exact Name of Registrant as Specified in Its Charter)**

---

| | |
|:---|:---|
| **British Virgin Islands** | **98-1600102** |
| **(State or Other Jurisdiction of**<br> **Incorporation or Organization)** | **(I.R.S. Employer**<br> **Identification No.)** |
| **111 Anza Boulevard, Suite 109**<br> **Burlingame, California** <br>| <br>**94010** |
| **(Address of Principal Executive Offices)** | **(Zip Code)** |

---

**Roadzen Inc. 2023 Omnibus Incentive Plan**

**Roadzen Inc. 2023 Employee Stock Purchase Plan**

**(Full Title of the Plans)**

**Rohan Malhotra**

**Chief Executive Officer**

**111 Anza Boulevard, Suite 109**

**Burlingame, California 94010**

**(Name and address of Agent for Service)**

**(650) 414-3530**

**(Telephone Number, Including Area Code, of Agent for Service)**

***Copies to:***

**Jason T. Simon, Esq.**

**Greenberg Traurig, LLP**

**1750 Tysons Boulevard, Suite 1000**

**McLean, VA 22102**

**(703) 749-1300**

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer", "smaller reporting company" and "emerging growth company" in Rule 12b-2 of the Exchange Act.

---

| | | | |
|:---|:---|:---|:---|
| Large accelerated filer | ☐ | Accelerated filer | ☐ |
| Non-accelerated filer | ☒ | Smaller reporting company | ☒ |
|  |  | Emerging growth company | ☒ |

---

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐

**PART I**

**INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS**

The documents containing the information specified in Part I of Form S-8 will be sent or given to participants as specified by Rule 428(b)(1) of the Securities Act of 1933, as amended (the "Securities Act"). These documents and the documents incorporated by reference into this Registration Statement pursuant to Item 3 of Part II of this registration statement, taken together, constitute a prospectus that meets the requirements of Section 10(a) of the Securities Act.

**PART II.**

**INFORMATION REQUIRED IN THE REGISTRATION STATEMENT**

**Item 3.** **Incorporation of Documents by Reference.**

The following documents, which have been filed by the Registrant with the Securities and Exchange Commission (the "Commission"), other than information furnished pursuant to Item 2.02 or Item 7.01, or related exhibits under Item 9.01, of Form 8-K are incorporated by reference in this Registration Statement:

&nbsp;&nbsp;&nbsp;&nbsp;(1) The
 Registrant's Annual Report on [Form 10-K](http://www.sec.gov/Archives/edgar/data/1868640/000164117225016647/form10-k.htm) for the year ended March 31, 2025, as filed
 with the Commission on June 26, 2025 (the "2025 Form 10-K");

(2) The Registrant's Annual Report
 on [Form 10-K/A](https://www.sec.gov/Archives/edgar/data/1868640/000149315225024374/form10-ka.htm) for the year ended March 31, 2025, as filed with the Commission on November 20, 2025 (the "2025 Form 10-K/A");

(3) The Registrant's Quarterly
 Report on [Form 10-Q](https://www.sec.gov/Archives/edgar/data/1868640/000149315225022583/form10-q.htm) , for the quarter ended September 30, 2025, as filed with the Commission on November 14, 2025;

(4) The
 Registrant's Quarterly Report on [Form 10-Q](http://www.sec.gov/Archives/edgar/data/1868640/000164117225023491/form10-q.htm) , for the quarter ended June 30, 2025, as filed with the Commission on August 13, 2025;

(5) The
 Registrant's Current Reports on Form 8-K, as filed with the Commission on [April 1, 2025](https://www.sec.gov/Archives/edgar/data/1868640/000164117225002155/form8-k.htm) , [April 2, 2025](https://www.sec.gov/Archives/edgar/data/1868640/000164117225002387/form8-ka.htm) , [April 3, 2025](https://www.sec.gov/Archives/edgar/data/1868640/000164117225002579/form8-k.htm) , [April 21, 2025](https://www.sec.gov/Archives/edgar/data/1868640/000164117225005571/form8-k.htm) , [June 26, 2025](https://www.sec.gov/Archives/edgar/data/1868640/000164117225016641/form8-k.htm) , [July 30, 2025](https://www.sec.gov/Archives/edgar/data/1868640/000164117225021507/form8-k.htm) , [July 31, 2025](https://www.sec.gov/Archives/edgar/data/1868640/000164117225021773/form8-k.htm) , [August 13, 2025](https://www.sec.gov/Archives/edgar/data/1868640/000164117225023483/form8-k.htm) , [October 29](https://www.sec.gov/Archives/edgar/data/1868640/000149315225020060/form8-k.htm) , [November 4](https://www.sec.gov/Archives/edgar/data/1868640/000149315225020690/form8-k.htm) , [November 14](https://www.sec.gov/Archives/edgar/data/1868640/000149315225022601/form8-k.htm) and [November 20, 2025](https://www.sec.gov/Archives/edgar/data/1868640/000149315225024501/form8-k.htm) ;

(6) The
 prospectus filed by the Registrant with the SEC pursuant to Rule 424(b) under the Securities
 Act, on [August 14, 2023](https://www.sec.gov/Archives/edgar/data/1868640/000119312523211423/d14176ds4a.htm) relating to the registration statement on Form S-4, as amended (Registration
 No. 333-269747); and

(7) The
 description of our capital stock contained in our registration statement on Form 8-A (File No. 001-41094) filed on [November 19, 2021](https://www.sec.gov/Archives/edgar/data/1868640/000119312521334628/d255702d8a12b.htm) ,
 and any amendments or reports filed for the purposes of updating this description

All documents subsequently filed by the Registrant pursuant to Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act prior to the filing of a post-effective amendment to this Registration Statement which indicates that all securities offered hereby have been sold or which deregisters all securities then remaining unsold (other than those furnished pursuant to Item 2.02 or Item 7.01, or related exhibits under Item 9.01, of Form 8-K or other information "furnished" to the Commission), shall be deemed to be incorporated by reference in this Registration Statement and to be a part hereof from the date of filing of such documents.

Any document or any statement contained in a document incorporated or deemed incorporated by reference herein shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained in any other subsequently filed document which also is or is deemed to be incorporated by reference herein modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement. Nothing in this Registration Statement shall be deemed to incorporate information furnished but not filed with the Commission pursuant to Item 2.02 or Item 7.01, or related exhibits under Item 9.01, of Form 8-K.

**Item 4. Description of Securities.**

Not applicable.

**Item 5. Interests of Named Experts and Counsel.**

The validity of the securities registered hereby has been passed upon for the Registrant by Maples & Calder.

**Item 6. Indemnification of Directors and Officers.**

Subject to the provisions of the BVI Companies Act, the Amended and Restated Memorandum and Articles of Association of the Registrant provides that the Registrant may indemnify against all expenses, including legal fees, and against all judgments, fines and amounts paid in settlement and reasonably incurred in connection with legal, administrative or investigative proceedings any person who:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) is or was a party or is threatened to be made a party to any threatened, pending or completed proceedings, whether civil, criminal, administrative or investigative, by reason of the fact that the person is or was a director of the Registrant; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) is or was, at the request of the Registrant, serving as a director of, or in any other capacity is or was acting for, another company or a partnership, joint venture, trust or other enterprise.

Pursuant to the BVI Companies Act, the indemnity applies only to a person who has acted honestly and in good faith and in what he believed to be the best interests of the Registrant and, in the case of criminal proceedings, provided the person had no reasonable cause to believe that his conduct was unlawful. The Registrant shall not indemnify a person who has not so acted, and any indemnity given to such a person is void and of no effect.

The termination of any proceedings by any judgement, order, settlement, conviction or the entering of a nolle prosequi does not, by itself, create a presumption that the person did not act honestly and in good faith and with a view to the best interests of the Registrant or that the person had reasonable cause to believe that his conduct was unlawful.

Expenses, including legal fees, incurred by a director in defending any legal, administrative or investigative proceedings may be paid by the Registrant in advance of the final disposition of such proceedings upon receipt of an undertaking by or on behalf of the director to repay the amount if it shall ultimately be determined that the director is not entitled to be indemnified by the Registrant in accordance with the Amended and Restated Memorandum and Articles of Association.

Expenses, including legal fees, incurred by a former director in defending any legal, administrative or investigative proceedings may be paid by the Registrant in advance of the final disposition of such proceedings upon receipt of an undertaking by or on behalf of the former director to repay the amount if it shall ultimately be determined that the former director is not entitled to be indemnified by the Registrant in accordance with the Amended and Restated Memorandum and Articles of Association and upon such other terms and conditions, if any, as the Registrant deems appropriate.

The indemnification and advancement of expenses provided by, or granted pursuant to, the Amended and Restated Memorandum and Articles of Association is not exclusive of any other rights to which the person seeking indemnification or advancement of expenses may be entitled under any agreement, resolution of members, resolution of disinterested directors or otherwise, both as to acting in the person's official capacity and as to acting in another capacity while serving as a director of the Registrant.

The Registrant may purchase and maintain insurance in relation to any person who is or was a director of the Registrant, or who at the request of the Registrant is or was serving as a director of, or in any other capacity is or was acting for, another body corporate or a partnership, joint venture, trust or other enterprise, against any liability asserted against the person and incurred by the person in that capacity, whether or not the Registrant has or would have had the power to indemnify the person against the liability under the Amended and Restated Memorandum and Articles of Association.

In addition, the Registrant may maintain standard policies of insurance under which coverage is provided to its directors and officers against loss rising from claims made by reason of breach of duty or other wrongful act, and to the Registrant with respect to payments which may be made by the Registrant to such directors and officers pursuant to the above indemnification provision or otherwise as a matter of law.

**Item 8. Exhibits.**

---

| | | |
|:---|:---|:---|
| **Exhibit**<br> **Number** | **Description** | **Method of Filing** |
| 4.1 | [Amended and Restated Memorandum and Articles of Association of Roadzen Inc.](https://www.sec.gov/Archives/edgar/data/1868640/000119312523242523/d537808dex31.htm) | Incorporated by reference to Exhibit 3.1 to the Registrant's Current Report on Form 8-K, filed with the Commission on September 26, 2023. |
| 5.1 | [Opinion of Maples & Calder](ex5-1.htm) | Filed herewith. |
| 10.1 | [Roadzen Inc. 2023 Omnibus Equity Incentive Plan](https://www.sec.gov/Archives/edgar/data/1868640/000119312523242523/d537808dex108.htm) | Incorporated by reference to Exhibit 10.8 to the Registrant's Current Report on Form 8-K, filed with the Commission on September 26, 2023. |
| 10.2 | [Roadzen Inc. 2023 Employee Stock Purchase Plan](https://www.sec.gov/Archives/edgar/data/1868640/000119312523242523/d537808dex109.htm) | Incorporated by reference to Exhibit 10.9 to the Registrant's Current Report on Form 8-K, filed with the Commission on September 26, 2023. |
| 23.1 | [Consent of ASA & Associates LLP](ex23-1.htm) | Filed herewith. |
| 23.2 | [Consent of Maples & Calder (included in Exhibit 5.1 hereto).](ex5-1.htm) | Filed herewith. |
| 24.1 | [Powers of Attorney (included on signature pages hereof)](#a_001) | Filed herewith. |
| 107 | [Filing Fee Table](ex107.htm) | Filed herewith. |

---

**SIGNATURES**

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Burlingame, California, on November 28, 2025.

---

| | |
|:---|:---|
| **ROADZEN INC.** | **ROADZEN INC.** |
| By: | */s/ Rohan Malhotra* |
| Name: | Rohan Malhotra |
| Title: | Chief Executive Officer |

---

**POWER OF ATTORNEY**

**KNOWN TO ALL PERSONS BY THESE PRESENTS,** that each person whose signature appears below constitutes and appoints Rohan Malhotra and Jean-Noël Gallardo his or her attorney-in-fact, with the power of substitution, for him or her in any and all capacities, to sign any amendments to this Registration Statement (including post-effective amendments), and to file the same, with exhibits thereto and other documents in connection therewith, with the Commission, hereby ratifying and confirming all that each said attorney-in-fact, or his substitute or substitutes, may do or cause to be done by virtue hereof.

Pursuant to the requirements of the Securities Act of 1933, as amended, this Registration Statement has been signed below by the following persons in the capacities and on the dates indicated.

---

| | | |
|:---|:---|:---|
| **Signature** | **Title** | **Date** |
| */s/ Rohan Malhotra* | Chief Executive Officer and Director | November 28, 2025 |
| Rohan Malhotra | (Principal Executive Officer) |  |
| */s/ Jean-Noël Gallardo* | Chief Financial Officer | November 28, 2025 |
| Jean-Noël Gallardo | (Principal Financial and Accounting Officer) |  |
| */s/ Steven Carlson* | Chairman and Director | November 28, 2025 |
| Steven Carlson |  |  |
| */s/ Saurav Adhikari* | Director | November 28, 2025 |
| Saurav Adhikari |  |  |
| */s/ Ajay Shah* | Director | November 28, 2025 |
| Ajay Shah |  |  |
| */s/ Supurna VedBrat* | Director | November 28, 2025 |
| Supurna VedBrat |  |  |
| */s/ Zoe Ashcroft* | Director | November 28, 2025 |
| Zoe Ashcroft |  |  |
| */s/ Diane B. Glossman* | Director | November 28, 2025 |
| Diane B. Glossman |  |  |

---

## Exhibit 5.1

**Exhibit 5.1**

![](ex5-1_001.jpg)

Our ref: CHX/787490-000017/41837313v3

Roadzen Inc. Kingston Chambers<br> PO Box 173<br> Road Town<br> Tortola, VG1110 <br> British Virgin Islands

28 November 2025

Dear Sirs

**Roadzen Inc. (the "Company")**

We have acted as counsel as to British Virgin Islands law to the Company and have been asked to provide this legal opinion in connection with the Company's registration statement on Form S-8, including all amendments or supplements thereto (the "**Registration Statement**"), filed with the United States Securities and Exchange Commission (the "**Commission**") under the United States Securities Act of 1933, as amended (the "**SEC Act**") related to the reservation for issuance of up to 16,637,468 ordinary shares with a par value of US$0.0001 each of the Company (the "**Shares**"), authorised for issuance pursuant to the Roadzen Inc. 2023 Equity Incentive Plan (the "**Incentive Plan**") and the Roadzen Inc. 2023 Employee Stock Purchase Plan (the "**ESPP**" and together with the Incentive Plan, the "**Plans**").

---

| | |
|:---|:---|
| **1** | **Documents Reviewed** |

---

We have reviewed originals, copies, drafts or conformed copies of the following documents:

1.1 The
 public records of the Company on file and available for public inspection at the Registry
 of Corporate Affairs in the British Virgin Islands (the "**Registry of Corporate Affairs** ")
 on 28 November 2025, including the Company's Certificate of Incorporation and
 the memorandum and articles of association registered on 20 June 2022 (the "**Memorandum and Articles** ").

1.2 A
 list of the Company's directors provided by the Registry of Corporate Affairs dated
 19 November 2025 (a copy of which is attached as Annexure A) (the "**Registry List of Directors** ").

1.3 The
 records of proceedings available from a search of the electronic records maintained on the
 Judicial Enforcement Management System and the E-Litigation Portal from 1 January 2000 and
 available for inspection on 28 November 2025 at the British Virgin Islands High Court
 Registry (the "**High Court Registry** ").

![](ex5-1_002.jpg)

1.4 The
 written resolutions of the board of directors of the Company dated 28 June 2023, 19 September
 2023, 20 September 2023 and 22 November 2025 (the "**Resolutions** ").

1.5 A
 Certificate of Incumbency dated 19 November 2025, issued by Maples Corporate Services (BVI)
 Limited, the Company's registered agent (the "**Registered Agent's Certificate** ").

1.6 A
 certificate of good standing with respect to the Company issued by the Registrar of Corporate
 Affairs dated 19 November 2025 (the "**Certificate of Good Standing** ").

1.7 A
 certificate from a director of the Company (the "**Director's Certificate** ")
 (a copy of which is appended to this opinion at Appendix A).

1.8 The
 Registration Statement.

1.9 The
 Incentive Plan.

1.10 The
 ESPP.

---

| | |
|:---|:---|
| **2** | **Assumptions** |

---

The following opinions are given only as to, and based on, circumstances and matters of fact existing and known to us on the date of this opinion letter. These opinions only relate to the laws of the British Virgin Islands which are in force on the date of this opinion letter. In giving the following opinions we have relied (without further verification) upon the completeness and accuracy, as at the date of this opinion letter, of the Registry List of Directors, the Registered Agent's Certificate, the Director's Certificate and the Certificate of Good Standing. We have also relied upon the following assumptions, which we have not independently verified:

2.1 The
 Plans have been or will be authorised and, where applicable, duly executed and unconditionally
 delivered by or on behalf of all relevant parties in accordance with all relevant laws (other
 than, with respect to the Company, the laws of the British Virgin Islands).

2.2 The
 Plans are, or will be, legal, valid, binding and enforceable against all relevant parties
 in accordance with their terms under the laws of the State of Delaware (as appropriate) (the
 "**Relevant Law**") and all other relevant laws (other than, with respect
 to the Company, the laws of the British Virgin Islands).

2.3 The
 choice of the Relevant Law as the governing law of the Plans has been made in good faith
 and would be regarded as a valid and binding selection which will be upheld by the courts
 of the State of Delaware and any other relevant jurisdiction (other than the British Virgin
 Islands) as a matter of the Relevant Law and all other relevant laws (other than the laws
 of the British Virgin Islands).

2.4 Each
 written agreement, contract or other instrument or document evidencing any award granted
 under a Plan (the "**Plan Documents**") incorporates or will incorporate the
 terms of such Plan and has been or will be authorised and, where applicable, duly executed
 and unconditionally delivered by or on behalf of all relevant parties and such Plan Documents
 are or will be valid, binding and enforceable against all relevant parties in accordance
 with all relevant laws.

2.5 Where
 the Plan Documents have been provided to us in draft or undated form, they will be duly executed,
 dated and unconditionally delivered by all parties thereto in materially the same form as
 the last version provided to us.

2.6 Copies
 of documents, conformed copies or drafts of documents provided to us are true and complete
 copies of, or in the final forms of, the originals, and translations of documents provided
 to us are complete and accurate.

2.7 All
 signatures, initials and seals are genuine.

2.8 The
 capacity, power, authority and legal right of all parties under all relevant laws and regulations
 (other than, with respect to the Company, the laws and regulations of the British Virgin
 Islands) to enter into, execute, unconditionally deliver and perform their respective obligations
 under the Plans.

2.9 That
 all public records of the Company which we have examined are accurate and that the information
 disclosed by the searches which we conducted against the Company at the Registry of Corporate
 Affairs and the High Court Registry is true and complete and that such information has not
 since then been altered and that such searches did not fail to disclose any information which
 had been delivered for registration but did not appear on the public records at the date
 of our searches.

2.10 No
 monies paid to or for the account of any party under the Transaction Documents represent
 or will represent proceeds of criminal conduct (as defined in the Proceeds of Criminal Conduct
 Act (As Revised)).

2.11 There
 is no contractual or other prohibition or restriction (other than as arising under British
 Virgin Islands law) binding on the Company prohibiting or restricting it from entering into
 and performing its obligations under the Plans.

2.12 There
 is nothing under any law (other than the laws of the British Virgin Islands) which would
 or might affect the opinions set out below. Specifically, we have made no independent investigation
 of the Relevant Law.

2.13 That
 prior to the issue of any of the Shares the issue of such Shares shall be authorised pursuant
 to a resolution of the board of directors of the Company or, where the board of directors
 has established a committee of the board of directors of the Company and duly delegated to
 such committee the power to authorise the issue of Shares pursuant to the Plans, by a resolution
 of such committee of the board of directors of the Company and where the Shares are to be
 issued for a consideration, which is in whole or in part, other than money, the directors
 of the Company shall prior to the issue of such Shares pass a resolution stating: (a) the
 amount to be credited for the issue of such Shares; and (b) that, in the opinion of the directors
 of the Company, the present cash value of the non-money consideration and money consideration,
 if any, is not less than the amount to be credited for the issue of such Shares.

2.14 Prior
 to the issue of any of the Shares, the Company shall receive all necessary consideration
 as required under the Plans for the issue of the Shares and none of the Shares will be issued
 for less than their par value.

Save as aforesaid we have not been instructed to undertake and have not undertaken any further enquiry or due diligence in relation to the transaction the subject of this opinion.

---

| | |
|:---|:---|
| **3** | **Opinions** |

---

Based upon, and subject to, the foregoing assumptions and the qualifications set out below, and having regard to such legal considerations as we deem relevant, we are of the opinion that:

3.1 The
 Company is a company limited by shares incorporated with limited liability under the BVI
 Business Companies Act (As Revised) (the "**Act** "), is in good standing at
 the Registry of Corporate Affairs, is validly existing under the laws of the British Virgin
 Islands and possesses the capacity to sue and be sued in its own name.

3.2 The
 Shares to be offered and issued by the Company pursuant to the provisions of the Plans, have
 been duly authorised for issue, and when issued by the Company pursuant to the provisions
 of the Plans for the consideration fixed thereto and duly registered in the Company's
 register of members, will be validly issued and (assuming that all of the consideration is
 received by the Company) will be fully paid and non-assessable. As a matter of British Virgin
 Islands law, a share is only issued when it has been entered in the register of members.

---

| | |
|:---|:---|
| **4** | **Qualifications** |

---

The opinions expressed above are subject to the following qualifications:

4.1 The
 obligations assumed by the Company under the Plans will not necessarily be enforceable in
 all circumstances in accordance with their terms. In particular:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) enforcement
 may be limited by bankruptcy, insolvency, liquidation, reorganisation, readjustment of debts
 or moratorium or other laws of general application relating to or affecting the rights of
 creditors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) enforcement
 may be limited by general principles of equity. For example, equitable remedies such as specific
 performance may not be available, inter alia, where damages are considered to be an adequate
 remedy;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) some
 claims may become barred under relevant statutes of limitation or may be or become subject
 to defences of set-off, counterclaim, estoppel and similar defences;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) where
 obligations are to be performed in a jurisdiction outside the British Virgin Islands, they
 may not be enforceable in the British Virgin Islands to the extent that performance would
 be illegal under the laws of that jurisdiction;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) the
 courts of the British Virgin Islands have jurisdiction to give judgment in the currency of
 the relevant obligation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) arrangements
 that constitute penalties will not be enforceable;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) enforcement
 may be prevented by reason of fraud, coercion, duress, undue influence, misrepresentation,
 public policy or mistake or limited by the doctrine of frustration of contracts;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) an
 agreement made by a person in the course of carrying on unauthorised financial services business
 is unenforceable against the other party under section 50F of the Financial Services Commission
 Act (As Revised);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) provisions
 imposing confidentiality obligations may be overridden by compulsion of applicable law or
 the requirements of legal and/or regulatory process;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) the
 courts of the British Virgin Islands may decline to exercise jurisdiction in relation to
 substantive proceedings brought under or in relation to the Plan Documents in matters where
 they determine that such proceedings may be tried in a more appropriate forum;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) any
 provision in a Plan Document that is governed by British Virgin Islands law which expresses
 any matter to be determined by future agreement may be void or unenforceable;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) we
 reserve our opinion as to the enforceability of the relevant provisions of the Documents
 to the extent that they purport to grant exclusive jurisdiction as there may be circumstances
 in which the courts of the British Virgin Islands would accept jurisdiction notwithstanding
 such provisions; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) a
 company cannot, by agreement or in its articles of association, restrict the exercise of
 a statutory power and there is doubt as to the enforceability of any provision in the Documents
 whereby the Company covenants to restrict the exercise of powers specifically given to it
 under the Act including, without limitation, the power to increase its maximum number of
 shares, amend its memorandum and articles of association or present a petition to a British
 Virgin Islands court for an order to wind up the Company.

4.2 To
 maintain the Company in good standing with the Registrar of Corporate Affairs under the laws
 of the British Virgin Islands, annual filing fees must be paid, and certain statutory filings
 and returns made to the Registrar of Corporate Affairs within the time frame prescribed by
 law. As a consequence of a failure to pay annual filing fees, or to make certain filings
 or returns, on time, or to demonstrate compliance with certain statutory economic substance
 requirements where relevant, the Company may be liable to be struck off the register of companies
 and dissolved.

4.3 We
 express no opinion as to the application of, or the Company's compliance with, the
 British Virgin Islands economic substance regime.

4.4 We
 express no opinion as to the meaning, validity or effect of any references to foreign (i.e.
 non-British Virgin Islands) statutes, rules, regulations, codes, judicial authority or any
 other promulgations and any references to them in the Plans or the Registration Statement.

4.5 We
 express no view as to the commercial terms of the Plans or the Registration Statement or
 whether such terms represent the intentions of the parties and make no comment with regard
 to warranties or representations that may be made by the Company.

4.6 The
 obligations of the Company may be subject to restrictions pursuant to United Nations and
 United Kingdom sanctions extended to the British Virgin Islands by Orders in Council and/or
 sanctions imposed by governmental or regulatory authorities or agencies in the British Virgin
 Islands under British Virgin Islands legislation.

4.7 Under
 British Virgin Islands law, the register of members is *prima facie* evidence of title
 to shares and this register would not record a third party interest in such shares. However,
 there are certain limited circumstances where an application may be made to a British Virgin
 Islands court for a determination on whether the register of members reflects the correct
 legal position. Further, the British Virgin Islands court has the power to order that the
 register of members maintained by a company should be rectified where it considers that the
 register of members does not reflect the correct legal position. For the purposes of the
 opinion given in paragraph 3.2, there are no circumstances or matters of fact known to us
 on the date of this opinion letter which would properly form the basis for an application
 for an order for rectification of the register of members of the Company, but if such an
 application were made in respect of the Shares, then the validity of such shares may be subject
 to re-examination by a British Virgin Islands court.

4.8 Except
 as specifically stated herein, we make no comment with respect to any representations or
 warranties which may be made by or with respect to the Company in any of the documents or
 instruments cited in this opinion letter or otherwise with respect to the commercial terms
 of the transactions the subject of this opinion letter.

4.9 In
 this opinion letter, the phrase "non-assessable" means, with respect to the issuance
 of shares, that a shareholder shall not, in respect of the relevant shares and in the absence
 of a contractual arrangement, or an obligation pursuant to the memorandum and articles of
 association, to the contrary, have any obligation to make further contributions to the Company's
 assets (except in exceptional circumstances, such as involving fraud, the establishment of
 an agency relationship or an illegal or improper purpose or other circumstances in which
 a court may be prepared to pierce or lift the corporate veil).

4.10 The
 search of records of proceedings available at the High Court Registry would not reveal any
 proceeding which has been placed under seal or anonymised (whether by order of the Court
 or pursuant to the practice of the High Court Registry).

The opinions in this opinion are strictly limited to the matters contained in the opinions section above and do not extend to any other matters. We have not been asked to review and we therefore have not reviewed any of the ancillary documents relating to the Plans and express no opinion or observation upon the terms of any such document.

We hereby consent to the filing of this opinion as an exhibit to the Registration Statement. In providing our consent, we do not thereby admit that we are in the category of persons whose consent is required under Section 7 of the SEC Act or the rules and regulations of the Commission thereunder.

This opinion is addressed to you and may be relied upon by you and your counsel. This opinion is limited to the matters detailed herein and is not to be read as an opinion with respect to any other matter.

Yours faithfully

Maples and Calder

**Appendix A**

**Director's Certificate (S8)**

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| | |
|:---|:---|
| To: | Maples and Calder<br> 5<sup>th</sup> Floor, Ritter House<br> PO Box 173<br> Road Town<br> Tortola<br> British Virgin Islands |

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28 November 2025

Dear Sirs

**Roadzen Inc.** (the "**Company**")

I, the undersigned, being a director of the Company, am aware that you are being asked to provide a legal opinion in relation to certain aspects of British Virgin Islands law (the "**Opinion**"). Unless otherwise defined herein, capitalised terms used in this certificate have the meaning given to them in the Opinion. I hereby certify that:

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| | |
|:---|:---|
| 1 | The Memorandum and Articles of Association of the Company registered on 20 September 2023 remain in full force and effect and are unamended. |
| 2 | The written resolutions of the board of directors dated 28 June 2023, 19 September 2023, 20 September 2023 (together, the "**Prior Resolutions**") and 22 November 2025 (the "**Current Resolutions**" and together with the Prior Resolutions, the "**Resolutions**") were signed by all the directors or committee members (as appropriate) in the manner prescribed in the Memorandum and Articles of the Company, including as to the disclosure of any director's or committee members' interests in the Transaction Documents, and have not been amended, varied or revoked in any respect. |
| 3 | Immediately prior to the issue of the Shares, the Company will have sufficient authorised but unissued shares in order for Shares to be issued as contemplated by the Registration Statement. |
| 4 | The shareholders of the Company (the "**Shareholders**") have not restricted or limited the powers of the directors of the Company in any way. |
| 5 | The directors of the Company at the date of the Prior Resolutions were and are as follows: (in respect of the resolutions passed on 28 June 2023 and 19 September 2023) Saurav Adhikari, Diane B. Glossman, Ajay Bhupendra Shah, Abha Kumar and Rangarajan Karakurichi Sundaram and (in respect of the resolutions passed on 20 September 2023) Saurav Adhikari, Diane B. Glossman and Ajay Bhupendra Shah |
| 6 | The directors of the Company at the date of the Current Resolutions and at the date of this certificate were and are as follows: Steven Jack Carlson, Saurav Adhikari, Diane B. Glossman, Ajay Bhupendra Shah, Zoe Jane Ashcroft, Rohan Malhotra and Supurna VedBrat. |
| 7 | The minute book and corporate records of the Company as maintained at its registered office in the British Virgin Islands and on which the Registered Agent's Certificate were prepared are complete and accurate in all material respects, and all minutes and resolutions filed therein represent a complete and accurate record of all meetings of the members and directors (or any committee thereof) (duly convened in accordance with the Memorandum and Articles) and all resolutions passed at the meetings, or passed by written resolution or consent, as the case may be. |

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| | |
|:---|:---|
| 8.0 | The Company has not created any charges over any of its property or assets. |
| 9.0 | Prior to, at the time of, and immediately following the implementation of the Plans the Company was, or will be, able to pay its debts as they fell, or fall, due and has entered, or will enter, into the Plans for proper value and not with an intention to defraud or hinder its creditors or by way of fraudulent preference or wilfully defeat an obligation owed to any creditor and the transactions contemplated thereby do not and will not give any creditor an unfair preference. |
| 10.0 | Neither the Company nor any of its subsidiaries (if any) has an interest in any land in the British Virgin Islands. |
| 11.0 | Each director of the Company considers the transactions contemplated by the Plans and the Plan Documents to be of commercial benefit to the Company and has acted in good faith in the best interests of the Company, and for a proper purpose of the Company, in relation to the transactions which are the subject of the Opinion. |
| 12.0 | No invitation has been or will be made by or on behalf of the Company to the public in the British Virgin Islands to subscribe for any of the Shares. |
| 13.0 | The Company is not a sovereign entity of any state and is not a subsidiary, direct or indirect of any sovereign entity or state. |
| 14.0 | To the best of my knowledge and belief, having made due inquiry, the Company is not the subject of legal, arbitral, administrative or other proceedings in any jurisdiction. Nor have the Directors and/or the Member taken any steps to have the Company struck off or placed in liquidation, nor have any steps been taken to wind up the Company. Nor has any receiver been appointed over any of the Company's property or assets. |
| 15.0 | The Company has at no time had employees. |
| 16.0 | To the best of my knowledge and belief, having made due inquiry, there are no circumstances or matters of fact existing which may properly form the basis for an application for an order for rectification of the register of members of the Company. |
| 17.0 | The Registration Statement has been, or will be, authorised and duly executed and delivered by or on behalf of all relevant parties in accordance with all relevant laws. |
| 18.0 | The Shares to be issued pursuant to the Registration Statement have been, or will be, duly registered, and will continue to be registered, in the Company's register of members. |
| 19.0 | The Company is not a central bank, monetary authority or other sovereign entity of any state and is not a subsidiary, direct or indirect, of any sovereign entity or state. |

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I confirm that you may continue to rely on this certificate as being true and correct on the day that you issue the Opinion, unless I shall have previously notified you in writing personally to the contrary.

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| | |
|:---|:---|
| Signature: | */s/ Rohan Malhotra* |
| Name: | Rohan Malhotra |
| Title: | Director |

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## Exhibit 23.1

**Exhibit 23.1**

![](ex23-1_001.jpg)

**CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**

We hereby consent to the incorporation by reference in the Registration Statements of Roadzen Inc. on Form S-8 of Roadzen Inc. of our report (which contains explanatory paragraph relating to the Company's ability to continue as a going concern as described in Note 2(b) to the consolidated financial statements) dated June 26, 2025, on our audits of the consolidated financial statements as of March 31, 2025 and 2024 and for each of the years then ended, which is included in the Annual Report on Form 10-K/A of Roadzen Inc. for the year ended March 31, 2025.

![](ex23-1_002.jpg)

**ASA & Associates LLP**

Gurugram, India

November 28, 2025

![](ex23-1_003.jpg)

## Ex-Filing

?xml version='1.0' encoding='ASCII'?

**Exhibit 107**

**Calculation of Filing Fee Tables**

**Form S-8**

(Form Type)

**Roadzen Inc.**

(Exact Name of Registrant as Specified in its Charter)

Table 1: Newly Registered Securities

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Security Type | Security Class Title | Fee Calculation<br> or Carry Forward Rule | Amount Registered<sup>(1)</sup> |  | Proposed Maximum Offering<br> Price Per Unit<sup>(2)</sup> | Maximum Aggregate Offering Price | Fee Rate | Amount of Registration Fee |
| **Fees to be Paid** | Equity | Ordinary Shares, $0.0001 par value | 457(h) | 13864557 | (3) | $1.50 | $20796835.50 | .00013810 | $2872.04 |
|  | Equity | Ordinary Shares, $0.0001 par value | 457(h) | 2772911 | (4) | $1.50 | $4159366.50 | .00013810 | $574.41 |
|  |  | Total Offering Amounts |  | 16637468 |  |  | $24956202.00 | .00013810 | $3446.45 |
|  |  | Total Fees Offsets |  |  |  |  |  |  | $0.00 |
|  |  | Net Fee Due |  |  |  |  |  |  | $3446.45 |

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(1) Pursuant
 to Rule 416(a) of the Securities Act of 1933, as amended, this registration statement (this "Registration Statement")
 shall also cover an indeterminate number of additional ordinary shares ("Ordinary Shares"), par value $0.0001 per share,
 of Roadzen Inc. (the "Registrant") that become issuable under Roadzen Inc. 2023 Omnibus Incentive Plan (the "Incentive
 Plan") and Roadzen Inc. 2023 Employee Stock Purchase Plan (the "ESPP") by reason of any stock dividend, stock split,
 recapitalization or other similar transaction effected without receipt of consideration.

(2) Calculated
 pursuant to Rule 457(c) and 457(h) under the Securities Act, solely for the purposes of calculating the registration fee, based on
 the average of the high and low prices of the Ordinary Shares as reported on the Nasdaq Global Market on November 25, 2025.

(3) Represents
 Ordinary Shares issuable under the Incentive Plan, including 1) 6,844,082 Ordinary Shares available for issuance following the consummation
 of the business combination by and among the Registrant, Roadzen, Inc., a Delaware corporation, and Vahanna Merger Sub Corp., a Delaware
 corporation, on September 20, 2023 (the "Business Combination"); 2) 3,422,041 Ordinary Shares available for issuance
 beginning with calendar year 2024; and 3) 3,598,434 Ordinary Shares available for issuance beginning with calendar year 2025.

(4) Represents
 Ordinary Shares issuable under the ESPP, including 1) 1,368,816 Ordinary Shares available for issuance following the consummation
 of the Business Combination; 2) 684,408 Ordinary Shares available for issuance beginning with calendar year 2024; and 3) 719,687
 Ordinary Shares available for issuance beginning with calendar year 2025.