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Non-marketable securities
12 Months Ended
Mar. 31, 2026
Non-marketable Securities  
Non-marketable securities

6 Non-marketable securities 

 

a) Moonshot - Internet SAS (“Moonshot”)

 

Roadzen (DE) invested $2,410,000 representing a 6.68% equity stake in Moonshot - Internet SAS, a simplified Joint Stock Company existing under the laws of France, which is a subsidiary of Societe Generale. Moonshot is an InsurTech company, registered as an insurance broker, which specializes in usage-based insurance products and services dedicated to E-Commerce. Roadzen (DE) has a representative on the board of directors of Moonshot, however the investment of 6.68% does not give Roadzen (DE) the ability to significantly influence the operating and financial policies of Moonshot, since majority ownership of Moonshot is concentrated with a single shareholder. Therefore, Roadzen (DE) uses the measurement alternative for equity investments without readily determinable fair values for its investment in Moonshot. The Company carries this investment at cost, less impairment.

 

During the fiscal year ended March 31, 2026, Moonshot was wound up and ceased operations. The Company therefore determined the carrying value of its investment was no longer recoverable and recognized a full impairment charge of $269,470. Following the impairment, the carrying value of the investment was fully eliminated.