IIT Bombay gets Rs 315 crore donation from Infosys co-founder Nandan Nilekani, know why

New Delhi: Infosys co-founder Nandan Nilekani on Tuesday declared a whopping amount of Rs 315 crore as his donation to IIT-Bombay, the institute that shaped his formative years and laid the foundation of his life’s journey.

Nandan Nilekani is an alumnus of the Institute and he made the donations to mark 50 years of his association with the globally acclaimed & reputed institute.

“IIT-Bombay has been a cornerstone in my life, shaping my formative years and laying the foundation for my journey,” Nilekani said in a statement while donating one of the biggest sums by any alumnus of institute.

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

Nilekani had passed out from IIT-Bombay in 1973. It was here that he obtained Bachelor’s degree in electrical engineering and then went on to create Infosys, the first among IT giants of the country, along with Narayan Murthy.
He also served as the board of governors of ITT-Bombay, from 2011 to 2015.

“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,” Nilekani added.

IIT-Bombay’s future plans

IIT-Bombay, recently unveiling its future goals, had said that it would require a funding of more than $500 million (approx Rs 4,106 crore) over next few years, to foster world-class infrastructure and encourage research in cutting-edge engineering & technology.

Nilekani’s donation will serve as ‘anchor investment’ for the institute and will rather spur other alumnus to come forward with similar funding.

Notably, the Infosys co-founder also contributed Rs 85 crore earlier, which together takes it to a total of Rs 400 crore contribution.