Nandan Nilekani, a co-founder of Infosys, revealed on Tuesday that he would donate Rs 315 crore to IIT-Bombay, where he was enrolled in 1973 and earned a Bachelor’s degree in electrical engineering. The institute reports that former student Nilekani has given his alma mater Rs 400 crore so far.
His involvement with the institute has lasted 50 years; he first attended as a student and has since held a number of positions there, including serving on the board of governors from 2011 to 2015.
IIT-Bombay stated in a news release that Nilekani has given the university a total of Rs 400 crores in donations, including an earlier gift of Rs 85 crore. This original gift, according to IIT-B, was “instrumental” in helping to build new dormitories, co-finance the School of Information Technology, and launch the first university incubator in the nation.
IIT-Bombay outlined its future goals and stated that during the following five years, it will need to raise $500 million (4,106 crore). Therefore, Nilekani’s gift, which totals $38.5 million, will serve as an “anchor contribution” and aid the institute in starting plans to carry out its stated goals.
The previous UIDAI chairman IIT-Bombay was referred to as a “cornerstone in my life”
“I am happy to pay it forward and support its future. This gift is more than simply a financial one; it is also a dedication to the kids who will influence the future of our globe and a tribute to the location that has given me so much,” he said.
IIT-B Director Prof. Subhasis Chaudhuri noted that this signified the start of a “new era” in the history of the institution.