IIT Madras alumnus built a Rs 4,200 crore company, gifted shares worth Rs 228 crore; now the IPO has created history
IIT Madras alumnus Dr Krishna Chivukula, founder of Indo-MIM Pvt Ltd, has turned philanthropy into history. After donating company shares worth Rs 228 crore to his alma mater in 2024, the institute realised nearly Rs 112 crore by selling part of its stake during the company’s IPO. The transaction is believed to be the largest IPO-related cash distribution received by an Indian university, strengthening IIT Madras’ research, innovation, and academic initiatives through alumni philanthropy.
IIT Madras alumnus Dr Krishna Chivukula, founder of Indo-MIM Pvt Ltd, has turned philanthropy into history. After donating company shares worth Rs 228 crore to his alma mater in 2024, the institute realised nearly Rs 112 crore by selling part of its stake during the company’s IPO. The transaction is believed to be the largest IPO-related cash distribution received by an Indian university, strengthening IIT Madras’ research, innovation, and academic initiatives through alumni philanthropy.
