Dr. Krishna Chivukula turned a record-breaking alumni donation into a historic financial milestone for Indian academia, culminating in the largest cash realization by an Indian university via an IPO.
The Entrepreneurial Journey
After graduating from IIT Madras (MTech, 1970), Dr. Chivukula left a $400M CEO role at age 37 to build Shiva Technologies, later sold for over $100 million. In 1996, he founded Indo-MIM, a global leader in precision component manufacturing. By FY26, the company generated ₹4,320.7 crore in revenue with a profit after tax of ₹533.5 crore.
A Historic Gift
In February 2024, Dr. Chivukula gifted 46.15 lakh shares of Indo-MIM (valued at ₹228 crore) to IIT Madras. It stands as the largest alumni donation in IIT Madras’s history and enabled the institute to cross ₹500 crore in annual grants for the first time.
Unlocking ₹112 Crore via IPO
Indo-MIM’s ₹3,811 crore IPO was subscribed 98.47 times and debuted on stock exchanges at a ~45% premium over its issue price. Through the Offer for Sale (OFS), IIT Madras monetized part of its gifted shares to raise nearly ₹112 crore in liquid funds to directly back cutting-edge research and campus infrastructure.
