Aakash Maker DataWind Files For $27.4 mn IPO in Canada

Canadian tablet maker DataWind is looking to raise $27.4 mn through an Initial Public Offering at the Toronto Stock Exchange, valuing the company at about $107 mn.

According to documents filed by DataWind, the company is planning to sell 5.2- 6.3 mn shares priced between $4.34 to $5.26.

Besides a line up of cheap tablets and smartphones, DataWind is pitching its compression technology as a winner, especially in emerging markets where its tablets were first sold.

The company also claims that it has 16 US patents and 4 million unit sales since launch.

In 2013, the company said it had revenues of $21.7 mn. The company is making losses. Financial highlights below

Aakash and DataWind has had its share of trouble in India. For the full filing, go here.