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v3.24.1.u1

Borrowings (Tables) | 9 Months Ended | 12 Months Ended
--- | --- | ---
Dec. 31, 2023 | Mar. 31, 2023
Debt Disclosure [Abstract] |  |
Schedule of Long Term Borrowings | A. Long-term borrowings consist of the following:
|  | As of December 31, 2023 |  |  | As of March 31, 2023 |
Secured debentures (note a) |  |  | 2,260,838 |  |  |  | 3,198,569 |
Loans from banks (note b) |  |  | 337,561 |  |  |  | 307,228 |
Convertible debenture (note c) |  |  | 403,167 |  |  |  | — |
Less: current portion of long-term borrowings |  |  | (2,393,383 | ) |  |  | (2,852,528 | )
|  |  | 608,183 |  |  |  | 653,269 |
|  | As of March 31, 2023 |  |  | As of March 31, 2022 |
A Long term borrowings consist of the following: |  |  |  |  |  |
Convertible notes (note a) |  |  | — |  |  |  | 23,032,002 |
Secured debentures (note b) |  |  | 3,198,569 |  |  |  | — |
Loans from banks (note c) |  |  | 307,228 |  |  |  | 159,951 |
Less: current portion of long-term borrowings |  |  | (2,852,528 | ) |  |  | (63,983 | )
|  |  | 653,269 |  |  |  | 23,127,970 |
Schedule of Convertible Notes Measured at Fair Value |  | As of March 31, 2022, the Company’s convertible notes, which have been measured at fair value, consisted of the following:
Particulars |  | As of March 31, 2023 |  |  | As of March 31, 2022 |
Convertible Note 2019 |  |  | — |  |  |  | 5,379,110 |
Convertible Note 2020 |  |  | — |  |  |  | 17,652,892 |
|  |  | — |  |  |  | 23,032,002 |
Schedule of Secured Debentures | a. Secured debentures:
Particulars |  | Interest rate |  |  | Maturity date |  | Amount outstanding |
Secured debentures |  |  | 19.50 | % |  | 31-May-24 |  |  | 597,282 |
|  |  | 19.50 | % |  | 31-Jul-24 |  |  | 337,951 |
|  |  | 19.25 | % |  | 31-May-24 |  |  | 424,509 |
|  |  | 20.00 | % |  | 31-Jan-24 |  |  | 901,096 |
|  |  |  |  |  |  |  | 2,260,838 |
| b. Secured debentures:
Particulars |  | Interest rate |  |  | Maturity date |  | Amount outstanding |
|  |  | 19.50 | % |  | 31-May-24 |  |  | 1,494,126 |
|  |  | 19.25 | % |  | 31-May-24 |  |  | 792,145 |
Secured debentures |  |  | 20.00 | % |  | 31-Jan-24 |  |  | 912,298 |
|  |  |  |  |  |  |  | 3,198,569 |
Schedule of Loans from Banks | b. Loans from banks:
Particulars |  | Interest rate |  |  | Maturity date |  | Amount outstanding |
Long-term borrowings from banks |  |  |  |  |  |  |  |
|  |  | 16.00 | % |  | 5-Mar-24 |  |  | 2,321 |
|  |  | 16.50 | % |  | 5-Mar-24 |  |  | 2,906 |
|  |  | 15.50 | % |  | 6-Sep-25 |  |  | 19,179 |
|  |  | 18.00 | % |  | 5-Sep-25 |  |  | 19,438 |
|  |  | 16.00 | % |  | 9-Apr-24 |  |  | 10,005 |
|  |  | 18.50 | % |  | 2-Nov-25 |  |  | 16,095 |
|  |  | 19.50 | % |  | 2-Oct-25 |  |  | 12,288 |
|  |  | 15.50 | % |  | 6-Sep-25 |  |  | 19,179 |
|  |  | 14.75 | % |  | 5-Jun-24 |  |  | 7,627 |
|  |  | 17.00 | % |  | 5-Oct-24 |  |  | 13,637 |
|  |  | 15.85 | % |  | 4-May-26 |  |  | 44,373 |
|  |  | 8.75 | % |  | 10-Aug-30 |  |  | 115,619 |
|  |  | 15.75 | % |  | 5-Aug-26 |  |  | 54,894 |
|  |  |  |  |  |  |  | 337,561 |
| c. Loan from banks:
Particulars |  | Interest rate |  |  | Maturity date |  | Amount outstanding |
|  |  | 18.00 | % |  | 5-Sep-25 |  |  | 26,403 |
|  |  | 16.00 | % |  | 5-Mar-24 |  |  | 9,295 |
|  |  | 16.50 | % |  | 5-Mar-24 |  |  | 11,639 |
|  |  | 15.50 | % |  | 6-Sep-25 |  |  | 26,265 |
|  |  | 13.50 | % |  | 5-Oct-25 |  |  | 54,063 |
|  |  | 16.00 | % |  | 9-Apr-24 |  |  | 19,120 |
Long term borrowings from banks |  |  | 18.50 | % |  | 2-Nov-25 |  |  | 21,265 |
|  |  | 19.50 | % |  | 2-Oct-25 |  |  | 16,387 |
|  |  | 15.50 | % |  | 6-Sep-25 |  |  | 26,265 |
|  |  | 14.75 | % |  | 5-Jun-24 |  |  | 18,294 |
|  |  | 17.00 | % |  | 5-Oct-24 |  |  | 24,786 |
|  |  | 15.85 | % |  | 23-Feb-26 |  |  | 53,446 |
|  |  |  |  |  |  |  | 307,228 |
Schedule of Maturities of Long-term Borrowings Excluding Convertible Notes | As of December 31, 2023, the aggregate maturities of long-term borrowings (excluding convertible notes) are as follows:
Period ending March 31, 2024 |  |  | 2,298,943 |
Period ending March 31, 2025 |  |  | 117,270 |
Period ending March 31, 2026 and onwards |  |  | 585,353 |
|  |  | 3,001,566 |
| As of March 31, 2023, the aggregate maturities of long-term borrowings (excluding convertible notes) are as follows:
Period ending March 31, 2024 |  |  | 2,852,528 |
Period ending March 31, 2025 |  |  | 588,439 |
Period ending March 31, 2026 |  |  | 61,232 |
|  |  | 3,502,199 |
Schedule of Short Term Borrowings | B. Short-term borrowings
|  | As of December 31, 2023 |  |  | As of March 31, 2023 |
Loans from banks (note a) |  |  | 1,901,497 |  |  |  | 84,587 |
Loans from related parties |  |  | 299,031 |  |  |  | 485,747 |
Loans from others (note b) |  |  | 12,965,327 |  |  |  | 4,305,467 |
|  |  | 15,165,855 |  |  |  | 4,875,801 |
|  | As of March 31, 2023 |  |  | As of March 31, 2022 |
B Short term borrowings |  |  |  |  |  |
Loan from banks (note a) |  |  | 84,587 |  |  |  | 107,528 |
Loan from related parties |  |  | 485,747 |  |  |  | 156,215 |
Loan from others (note a) |  |  | 4,305,467 |  |  |  | 267,297 |
|  |  | 4,875,801 |  |  |  | 531,040 |
Summary of Loans from Banks and Others | a) Loans from banks and others
Particulars |  | Weighted average borrowing rate |
Short-term borrowings from banks and others |  |  | 12.73 | %
| a) Loan from banks and others
Particulars |  | Weighted average borrowing rate |
Short term borrowings from banks and others |  |  | 16.40 | %
Summary of Estimated Fair Value of Working Capital Loan | Since the Warrants are listed under ticker symbol RDZNW, the market price method was used to compute the fair market value of the warrants resulting from the conversion of the convertible promissory note on the reporting date. A comparison of the assumptions used in calculating estimated fair value of working capital loan as of December 31, 2023 is as follows:
Closing price |  | $ | 0.07 |
Open price |  | $ | 0.07 |
High |  | $ | 0.07 |
Low |  | $ | 0.07 |

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