Nandan Nilekani donates ₹315 crore to IIT-Bombay. Here's why...

According to the institute, Nilekani, a former student, has, till now, donated ₹400 crore to his alma mater.

Nandan Nilekani donates ₹315 crore to IIT-Bombay. Here's why

Nandan Nilekani (File Photo/Reuters)

Nandan Nilekani donates ₹315 crore to IIT-Bombay. Here's why

Infosys co-founder Nandan Nilekani announced on Tuesday he was donating ₹315 crore to IIT-Bombay, which he joined in 1973, obtaining a Bachelor's degree in electrical engineering.

The reason? The completion of 50 years of his association with the institute, first as a student, and then in various roles, including being on its Board of Governors from 2011-2015, and more.

To mark 50 years of my association with @iitbombay, I am donating ₹315 crores to my alma mater. I am grateful to be able to do this🙏

Full release: https://t.co/q6rvuMf2jn pic.twitter.com/f8OEfZ1UTq

— Nandan Nilekani (@NandanNilekani) June 20, 2023

 In a press statement, IIT-Bombay noted that including a previous contribution of ₹85 crore, Nilekani has donated total ₹400 crore to the institute. This initial contribution, IIT-B said, was ‘instrumental’ in construction of new hostels, co-financing the School of Information Technology, and establishing the country's maiden university incubator.

What will IIT-Bombay do with the latest contribution?

Laying out its future plans, IIT-Bombay said it will need a fundraising of $500 million ( ₹4,106 crore) over the next five years. Nilekani's donation, which amounts to $38.5 million, will, therefore, act as an ‘anchor contribution’ and help the institute kick-start plans to achieve its stated objectives.

Nilekani, IIT-Bombay statements

The former UIDAI chairman described IIT-Bombay as a ‘cornerstone in my life.’

“I am grateful to give forward and contribute to its future. This donation is more than just a financial contribution; it is a tribute to the place that has given me so much and a commitment to the students who will shape our world tomorrow,” he said.

Prof. Subhasis Chaudhuri, Director, IIT-B, remarked this was the beginning of a ‘new era’ in the institute's history.

“We are extremely delighted to see our illustrious alumnus Nandan Nilekani, continuing his foundational and pioneering contributions to the institute. The historic donation will significantly acclerate the growth of IIT-Bombay and and firmly set it on a path of global leadership,” said Prof. Chaudhuri.

Nandan Nilekani donates ₹315 crore to IIT-Bombay. Here's why