IIT Madras receives donation of Rs 228 cr from alumni

August 06, 2024 20:24

Indian Institute of Technology, Madras, in Chennai has received a funding of Rs 228 crore from US-based industrialist and entrepreneur Dr Krishna Chivukula, officials said on Tuesday.

It is considered to be one of the single largest donations received by IIT Madras, which would utilise the funds for taking up various initiatives, the institute's director V Kamakoti said in Chennai.

"Nearly after 53 years, our alumni Dr Krishna Chivukula, has come to give Rs 228 crore as an endowment to IIT-Madras. He had studied M Tech in aerospace engineering during the 1970s and has established companies which are engaged in manufacture of components for aeroplanes," Kamakoti told reporters.

"This is one among the single largest endowments that has been received by IIT Madras in its history," he said on the fund received from Chivukula.

IIT Madras officials said the institute raised funding of Rs 513 crore during 2023-24 which is a 135 percent increase received from the previous financial year.

The total amount raised through alumni alone during 2023-24 was Rs 367 crore which is also an increase of 282 per cent over the previous year.

As part of recognising the contribution of Chivukula, IIT Madras has established the Krishna Chivukula Block on its sprawling campus at Adyar in Chennai. -- PTI

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