DataWind, maker of low-cost Aakash tablets, has raised Rs.168 crore (Canadian $30 million) through an IPO (initial public offer), and listed the company shares on the Toronto Stock Exchange.
Datawind said it would use the IPO proceeds to expand business across emerging markets.
“Our IPO (initial public offer) on the TSX (Toronto Stock Exchange) represents a major milestone for Datawind, and gives us the resources to implement the next stage of our vision to bring the internet to billions of unconnected people in the developing world,” Datawind President and CEO Suneet Singh Tuli said in a statement.
DataWind has been recognised by the MIT Technology Review in its 2014 list of the world’s 50 smartest companies, as the company is acknowledged for its ability to break the affordability barrier with tablet computers.
Datawind is now focusing on developing solutions that can facilitate access to internet services at affordable prices. — PTI
