The new device, which comes in with a 16GB internal memory expandable up to 32GB, will run on 1.3 quad-core processor and 1GB RAM. It will sport a 6.5-inch display and draw its power from a 2,800 mAH battery.

"Swipe's latest offering, the Ace Tablet, exemplifies our strategy of combining best of hardware, software and technology. It offers customers a device which meets their demand for seamless, on-the-go access to the Internet, digital entertainment and social networking services," said Swipe founder and CEO Shripal Gandhi.

"This is an exciting category that represents a meaningful growth opportunity for Swipe," he added. The Ace will be available on all leading online commerce platforms including Amazon, Snapdeal and Flipkart, the company said in a release.