 "IIT Bombay")
IIT Bombay (Source/Wikipedia)
Motilal Oswal Foundation has pledged Rs 130 crore to IIT-Bombay to help the educational institute upgrade its academic and research infrastructure.
This is the biggest commitment to date from the foundation set up by Motilal Oswal and Raamdeo Agrawal, the co-founders of Motilal Oswal Financial Services (MOFSL). It is also one of the largest corporate philanthropic contributions in the country.
The foundation has pledged to donate 10 per cent of the company’s equity—currently valued at Rs 4,500 crore—over the next decade.
The IIT-Bombay donation will entail the setting up of the Motilal Oswal Knowledge Centre at the Mumbai campus, with an area of approximately 1 lakh –1.2 lakh square feet.
“The Motilal Oswal Centre for Capital Markets (MOCM) at IIT-Bombay is conceptualised with the objective of building high-end capabilities to enable the evolution and growth of the Indian financial sector. The multidisciplinary centre will draw expertise from areas such as finance, economics, management, operations research, computer science, artificial intelligence, and mathematics,” MOFSL said in a release.
MOCM plans academic programmes in financial markets at the graduate, undergraduate, and postgraduate levels.
“This initiative will not only elevate the institute’s stature in financial education but also solidify its position as a leading hub for nurturing the next generation of financial market leaders,” said Shireesh Kedare, director, IIT-Bombay.
Motilal Oswal, trustee, Motilal Oswal Foundation, added, “At Motilal Oswal Foundation, we are committed to building a research-backed educational ecosystem that will create a positive impact on future leaders of the nation.”
First Published: Sep 19 2024 | 5:07 PM IST
