The contribution marks 50 years of the Infosys co-founder's association with IIT Bombay. (File)
Infosys co-founder Nandan Nilekani has donated Rs 315 crore to his alma mater Indian Institute of Technology (IIT) Bombay to mark 50 years of his association with the institution. Mr Nilekani had joined the institute in 1973 for a Bachelor's degree in electrical engineering.
A release said the donation is intended to foster world-class infrastructure, stimulate research in emerging areas of engineering and technology, and nurture a deep tech startup ecosystem at IIT Bombay. It said the contribution also stands as "one of the largest donations made by an alumnus in India".
"IIT-Bombay has been a cornerstone in my life, shaping my formative years and laying the foundation for my journey. As I celebrate 50 years of my association with this esteemed Institution, I am grateful to give forward and contribute to its future," the release quoted Mr Nilekani as saying.
"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 added.
The Memorandum of Understanding was signed by Mr Nilekani and IIT Bombay Director Professor Subhasis Chaudhuri in Bengaluru today.
The release quoted Mr Chaudhari as saying that the historic donation will set IIT Bombay on a path of global leadership.
"We are extremely delighted to see our illustrious alumnus Nandan Nilekani continuing his foundational & pioneering contributions to the Institute. This historic donation will significantly accelerate the growth of IIT Bombay and will firmly set it on a path of global leadership," Mr Chaudhari said.
Mr Nilekani had made grants of Rs 85 crore to the institute earlier, bringing his total contribution to Rs 400 crore.