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DEBT SECURITIES ISSUED | 6 Months Ended
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Sep. 30, 2025
Debt Securities [Abstract] |
DEBT SECURITIES ISSUED | DEBT SECURITIES ISSUED As of September 30, 2025, and March 31, 2025, outstanding debt securities issued by the Group included the following:
Debt securities issued by: |  | Principal Amount as of September 30, 2025 |  | Principal Amount as of March 31, 2025 |  | Interest rate |  | Issue date |  | Maturity date |  | Denominated Currency
Freedom SPC bonds due 2026 |  | $ | 200,860 |  |  | $ | 201,311 |  |  | 10.5% |  | September, 2024 |  | September, 2026 |  | USD
Freedom SPC bonds due 2027 |  | 200,551 |  |  | — |  |  | 10.0% |  | May, 2025 |  | May, 2027 |  | USD
Freedom SPC bonds due 2028 |  | 200,263 |  |  | 200,305 |  |  | 1-2 years: 12% 3-5 years: EFFR + 6.5% |  | December, 2023 |  | December, 2028 |  | USD
Freedom SPC bonds due 2027 |  | 68,875 |  |  | — |  |  | 8.0% |  | May, 2025 |  | May, 2027 |  | EUR
Freedom SPC bonds due 2026 |  | 64,930 |  |  | 64,801 |  |  | 5.5% |  | October, 2021 |  | October, 2026 |  | USD
Freedom SPC bonds due 2027 |  | 1,779 |  |  | — |  |  | 9.0% |  | May, 2025 |  | May, 2027 |  | CNY
Accrued interest |  | 5,516 |  |  | 3,134 |  |  |  |  |  |  |  |  |
Total debt securities issued |  | $ | 742,774 |  |  | $ | 469,551 |  |  |  |  |  |  |  |  |
The Freedom SPC bonds are denominated in U.S. dollars, euros, Chinese yuans and were issued under Astana International Financial Centre ("AIFC") law and trade on the AIX. The Group is a guarantor of the Freedom SPC bonds. The Freedom SPC bonds due 2026 bear interest at an annual rate of 5.5% and 10.5%. The maturity dates for those bonds are in October and September 2026. Interest payments are due to be made semi-annually in April and October, and on a quarterly basis. For the first two years of Freedom SPC bonds due 2028, the annual interest rate is 12% and for subsequent years the interest rate will be fixed and set as the sum of Effective Federal Funds Rate (EFFR) as of December 10, 2025 and a margin of 6.5%. Interest is paid on a monthly basis. The bondholders have a right of early redemption after two years at nominal value plus accrued interest. After two years, following the issue date, the issuer has the option to redeem the bonds in full or in part at nominal value plus accrued interest. The Freedom SPC bonds due 2027 bear interest at an annual rate of 8%, 9% and 10% and maturity date in May 2027. Interest is paid on a quarterly basis. Debt securities issued are initially recognized at the fair value of the consideration received, less directly attributable transaction costs. The Group has no financial covenants to comply with under the terms of its debt securities.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 8A -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-8A Reference 2: http://www.xbrl.org/2003/role/disclosureRef 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