272 - India’ll have 500 Million Tablet Users in 5 Yrs: Datawind CEO - New Indian Express

India’ll have 500 Million Tablet Users in 5 Yrs: Datawind CEO

By Express News Service

Published: 30th June 2014 07:21 AM

• Datawind chief executive officer Suneet Singh Tuli making a point while speaking at a curtain raiser on IIT alumni global conference at Indian School of Business in Hyderabad on Sunday | NEERAJ MURALI 

HYDERABAD: With the growing demand for digital learning across the country, the market for tablet computers is likely to rise exponentially, Suneet Singh Tuli, chief executive officer of Datawind, the maker of low-cost Aakash tablets for government of India, has said.

In the next five years, akin to mobile phone reach to masses in the country, one can witness 500 million tablet users in India, he has projected.

“Currently, 4 million tablet users are being added to the lot of tablet users in the country. That means, in less than five years one can expect 70-time increase in the reach. This scenario is no less than that of mobile phone user base expansion in the country,” he observed.

He was at the Indian School of Business on Sunday to participate in the curtain raiser  on the IIT Global Conference-2014 to be  hosted by IIT-Hyderabad in Hyderabad in December.

“The paltry 5 to 7 percent of Indian students who have access to digital content and the Union government, which promises to promote digital education, should work better for the tablet market in the country,” he said.

“The party at the helm of administration at the Centre has vowed to take steps to expand the digital education tools across the country and mentioned it in its manifesto. So, this augurs well for the tablet market,” he said, adding that one lakh Aakash tablets had been supplied to the government of India.

First Such Meet in Hyderabad

For the first time, IIT Global Conference-2014 will be held in Hyderabad from December 19 to 21. It will be hosted by IIT-Hyderabad.

Last year, the conference was held in Houston city in the United States. The event was announced by the organising committee at the Indian School of Business.  The prestigious global conference which draws IIT alumni from across the world is expected to see a participation of 3,000 IITians, who are currently working in diverse industries, academia and government globally.

With the active support from the Telangana government, the three-day event is likely to host many internationally-acclaimed personalities and focus on promoting entrepreneurship, research and innovation in Telangana and rest of the country. 

An IIT alumnus and managing director of  Talent Sprint Santanu Paul said the conference would help Hyderabad regain its position in drawing investors.

271 - DataWind, makers of Aakash tablet, plans $28 million IPO - IBN Live

DataWind, makers of Aakash tablet, plans $28 million IPO

Toronto: DataWind plans to raise about C$30 million ($27.41 million) via an initial public offering on the Toronto Stock Exchange that will value the discount tablet maker at about C$117 million, according to documents filed with regulators on Wednesday.

Mississauga, Ontario-based DataWind has grabbed headlines in recent years as the maker of the world's cheapest tablet device, UbiSlate (Aakash tablet) that was initially developed as a budget device for the Indian market.

The entry-level version of the device is now being sold for roughly $38 in the United States, Canada and the United Kingdom.

DataWind has grabbed headlines in recent years as the maker of the world's cheapest tablet device.

In documents filed with Canadian securities regulators on Wednesday, DataWind said it plans to sell between 5.2 million and 6.3 million shares, at a price of between C$4.75 and C$5.75 a share.

Based on the mid-point of the offering size and price range the IPO is expect to raise about C$30 million, and up to C$34.5 million if the book-runners exercise the over-allotment options on the offering.

If the over-allotment option is exercised in full DataWind will have 22.22 million shares outstanding after completion of the offering, valuing it on paper at roughly C$117 million.

The DataWind IPO comes close on the heels of another tech IPO in Canada, Kinaxis. The Ottawa-based software company earlier in the week said it plans to raise C$100.6 million via an IPO and a secondary offering.

Although many have predicted a slew of Canadian tech IPOs this year, activity so far has been relatively muted, and many much talked about names in the sector such as Shopify, HootSuite Media and Desire2Learn, have yet to move on an IPO.

Toronto-based Baylin Technologies, a maker of antennae for mobile devices, was the last technology company to go public on the TSX via an IPO late in 2013 that raised roughly C$50 million.

The DataWind offering is being underwritten by a syndicate led by Canaccord Genuity, as sole lead bookrunner. The syndicate includes National Bank Financial, Cormark Securities and Haywood Securities.