DataWind reportedly files for an IPO expecting to raise $27.41 million in funds


The Aakash tablet maker DataWind has reportedly filed for an IPO, and is planning to raise funds of $27.41 million through its IPO on the Toronto Stock Exchange. According to Reuters, the documents filed with regulators indicate that the company has been valued at about $107 million on the Toronto Stock Exchange.

DataWind, which is based out of Ontario and has earlier been in news for its Aakash tablet project in India, has reportedly filed documents with Canadian securities regulators. The documents highlight that the company is planning to sell between 5.2 million and 6.3 million of its shares at a price ranging from $4.34 to $5.26 per share.

According to the report, the company is expected to raise $27.4 million and up to $31.5 million in case the book-runners would choose the over-allotment options on the offering. And if the over-allotment option is exercised in full, DataWind will have 22.22 million shares outstanding after completion of the offering. In such a case it will be valued on paper at almost $107 million.

As per the report, the DataWind IPO has been underwritten by a syndicate which is led by Canaccord Genuity, which is the sole lead book-runner for the company. The syndicate comprises of National