DataWind, makers of low-cost Aakash tablets, today said a large part of the Rs 168 crore (30 million Canadian dollars) raised through an IPO (Initial Public Offer) would be invested towards expansion in India.
“The majority of it will be invested in India;…it will be over the period of next six months, the funding is here- it is just how fast we can go in,” DataWind Chief Executive Officer Suneet Singh Tuli told reporters here.To a question, he said “large part of the investment will not only go into expansion of Amritsar facility but throughout India.”
“…We have subcontract manufacturers in Delhi. We want to support the sub contract manufacturers. We have been working with a number of state governments. We want to replicate it in other states also. We have been working with universities for further research. We want to fund those researches.”
“It is not just the plants we want to fund; we actually want to fund research which does breakthroughs with such lower cost devices,” he added.
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