He built a Rs 4,200 crore company, then gifted shares worth Rs 228 crore to IIT Madras; now the IPO has created history

Dr Krishna Chivukula, an IIT Madras alumnus, donated 46.15 lakh shares of Indo-MIM Pvt Ltd (IUMT), worth Rs 228 crore, to IIT Madras in 2024.

During Indo-MIM's IPO on July 30, 2026, IIT Madras sold part of the donated shares via Offer for Sale (OFS), realising nearly Rs 112 crore.

The transaction is believed to be the largest IPO-related cash distribution received by an Indian university.

The donation strengthens IIT Madras' research, innovation, and academic initiatives through alumni philanthropy.

Dr Krishna Chivukula completed his MTech in Aerospace Engineering from IIT Madras in 1970 and founded Indo-MIM, a precision engineering company valued at Rs 4,200 crore.