Roadzen Inc. (RDZN) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

High Risk
Significant dilution risk
Last updated: May 05, 2026

Risk Assessment Details

Potential Dilution: 104.88% of current shares
Recent Dilution: 29.34% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
79M
Potential Supply
83M
Additional shares possible
Splits
None
Past 2 years

Summary

RDZN currently has 79.5M outstanding shares. with significant dilution risk as 83.4M authorized shares could dilute existing holders by 104.9%. The company has significantly diluted shareholders by 29.34% over the past 2 years, indicating aggressive capital raising.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
May 05, 2026

8-K filing: Roadzen Inc. completed an offering of 4,705,870 ordinary shares at $1.70 per share, resulting in gross proceeds of $7,999,979 before deducting fees and expenses. ($8.0M proceeds)

79M 83M
Dec 31, 2025

S-3 filing: This prospectus relates to the issuance by us of an aggregate of up to 19,157,081 ordinary shares issuable upon the exercise of warrants, which consists of (a) up to 9,152,087 Ordinary Shares issuable from the exercise of 9,152,087 warrants held by Vahanna and certain transferees, and (b) up to 10,004,994 Ordinary Shares issuable from the exercise of 10,004,994 public warrants of the Company and also relates to the resale by the selling securityholders of up to an aggregate of 9,152,087 Private Warrants and 10,300,961 Ordinary Shares of the Company.

79M 83M
Nov 28, 2025

S-3 filing: This prospectus relates to the resale by the selling securityholders of up to an aggregate of 7,946,634 ordinary shares of Roadzen Inc.

79M 34M
Nov 14, 2025

10-Q filing | 75.7M shares outstanding

76M 27M
Aug 13, 2025

10-Q filing | 74.3M shares outstanding

74M 27M
Jul 31, 2025

8-K filing: Roadzen Inc. completed a best efforts offering of 1,730,769 ordinary shares at $1.30 per share, resulting in gross proceeds of $2,249,999.70 before deducting fees and expenses. ($2.25M proceeds)

70M 27M
Jul 30, 2025

8-K filing: Roadzen Inc. sold 1,803,134 ordinary shares at $1.25 per share to institutional investors, including 104,000 shares to Avacara PTE Ltd., for total proceeds of approximately $2,253,917. ($2.38M proceeds)

70M 27M
Jun 26, 2025

10-K filing | 69.9M shares outstanding

70M 27M
Mar 05, 2025

8-K filing: Roadzen Inc. amended its Senior Secured Note Purchase Agreement, extended the maturity date of its notes, and issued an amended warrant to purchase up to 1,537,083 Ordinary Shares at an exercise price of $0.001 per share.

74M 27M
Feb 20, 2025

S-3/A filing: This S-3/A filing relates to the resale by selling securityholders of up to 3,470,079 ordinary shares of Roadzen Inc.

74M 27M
Feb 12, 2025

10-Q filing | 68.9M shares outstanding

69M 27M
Feb 05, 2025

S-3 filing: This S-3 filing relates to the resale of up to 3,470,079 ordinary shares by selling securityholders.

74M 27M
Jan 06, 2025

8-K filing: Roadzen Inc. completed an offering of 2,222,300 ordinary shares at $2.25 per share, resulting in gross proceeds of $5,000,175 before deducting fees. ($5.0M proceeds)

68M 23M
Jan 02, 2025

8-K filing: Roadzen Inc. issued 1,227,867 ordinary shares to Marco Polo Securities, Inc. and Avacara PTE Ltd. in exchange for the cancellation of approximately $3.5 million in aggregate liabilities. ($3.5M proceeds)

68M 23M
Dec 17, 2024

8-K filing: Roadzen Inc. completed a public offering of 1,900,000 ordinary shares and pre-funded warrants to purchase 400,000 ordinary shares, with an additional 300,000 shares sold upon full exercise of the underwriter's option, for net proceeds of approximately $2.5 million.

68M 23M
Nov 13, 2024

10-Q filing | 68.4M shares outstanding

68M 23M
Nov 01, 2024

S-3 filing: Roadzen Inc. is offering ordinary shares, preference shares, warrants, subscription rights, and debt securities for total gross proceeds of up to $100,000,000.

68M 23M
Aug 13, 2024

10-Q filing | 68.4M shares outstanding

68M 23M
Jul 01, 2024

10-K filing | 68.4M shares outstanding

68M 23M
Apr 26, 2024

8-K filing: Roadzen Inc. issued warrants to purchase 50,000 Ordinary Shares to Krishnan-Shah Family Partners, LP on April 22, 2024, and expects to issue warrants to purchase such number of Ordinary Shares to Ms. VedBrat in the near future, pursuant to a Securities Purchase Agreement.

68M 23M
Apr 16, 2024

S-1 filing: Roadzen Inc. is offering ordinary shares through a reasonable best efforts offering, intending to use the net proceeds for general corporate purposes, including working capital, organic expansion, paying off certain indebtedness, and the funding of potential acquisitions.

68M 23M
Apr 04, 2024

8-K filing: Roadzen Inc. entered into a Securities Purchase Agreement to issue up to $2 million in senior secured notes and warrants to purchase Ordinary Shares to Supurna VedBrat and Krishnan-Shah Family Partners, LP, with each purchasing $500,000 in notes initially.

68M 23M
Feb 12, 2024

10-Q filing | 68.4M shares outstanding

68M 23M
Nov 13, 2023

10-Q filing | 68.4M shares outstanding

68M 23M
Aug 16, 2023

10-Q filing | 20.0M shares outstanding

20M 23M
May 19, 2023

10-Q filing | 20.0M shares outstanding

20M 23M
Apr 14, 2023

10-K filing | 20.0M shares outstanding

20M 23M
Nov 14, 2022

10-Q filing | 20.0M shares outstanding

20M 23M
Aug 15, 2022

10-Q filing | 20.0M shares outstanding

20M 23M
May 16, 2022

10-Q filing | 20.0M shares outstanding

20M 23M
Nov 04, 2021

S-1 filing: Vahanna Tech Edge Acquisition I Corp. is offering 15,000,000 units, each consisting of one Class A ordinary share and one-half of one redeemable warrant, at $10.00 per unit in an initial public offering.

N/A 23M
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