Success is often measured by the companies entrepreneurs create. But for Dr. Krishna Chivukula, an IIT Madras alumnus, success also means giving back to the institution that helped shape his life’s journey. More than 50 years after graduating from IIT Madras, he donated 46.15 million shares of his company Indo-MIM Pvt Ltd (IUMT) to his alma mater, a gift worth approx. 228 Crores Rs. It was also the largest alumni donation the college had ever received at the time.This extraordinary move has now created another milestone. As Indo-MIM made its debut in the stock market on July 30, IIT Madras sold a portion of its donated shares through an offer for sale (OFS), realizing nearly Rs 112 crore. The deal is believed to be the largest cash distribution an Indian university has received through an initial public offering, underscoring how the gratitude of an alumnus is now helping to strengthen research and innovation at his alma mater.
From IIT Madras graduate to global entrepreneur
Dr. Krishna Chivukula received his Master’s degree in Aerospace Engineering from IIT Madras in 1970 and embarked on an entrepreneurial journey that ultimately led to the founding of one of India’s leading precision engineering companies.His career was defined by bold decisions. At just 37 years old, he resigned as CEO of the Hoffmann Group, then valued at more than $400 million, to start his own business. He invested his life savings (approximately $2 million) to found Shiva Technologies, which was later acquired by EAG Laboratories in 2007 in a deal reportedly worth more than $100 million.In 1996, he formed a joint venture, Indo-MIM, which he eventually took full ownership of. Over the next three decades, the company grew to become one of the world’s leading manufacturers of precision engineered components using metal injection molding (MIM) technology.Today, Indo-MIM serves customers in 55 countries and manufactures more than 6,400 precision engineered products serving the automotive, aerospace, defense, medical equipment and consumer products industries. In FY26, the company’s total revenue was 4,320.7 billion rupees and profit after tax was 533.5 billion rupees, reflecting its strong global presence and financial performance.
A historic gift will continue to benefit IIT Madras
On February 1, 2024, Dr. Chivukula donated 46.15 million Indo-MIM shares to IIT Madras. The donation, worth approximately Rs 228 crore, becomes the largest alumni donation in the history of the college and the third-largest ever to an Indian educational institution.The college named a campus block after him on August 6, 2024, in his honor.The donation also helped IIT Madras cross Rs 500 crore in allocations for the first time in fiscal year 2024, providing a major boost to research, innovation, laboratory and academic projects.Recent initial public offerings have further amplified this effect. Indo-MIM’s Rs 3,811-crore public issue attracted overwhelming investor interest, with the overall IPO subscribed 98.47 times. Qualified institutional buyers (QIB) subscribed nearly 296 times, reflecting the strong confidence of institutions in the company.When the shares hit the stock exchanges on Thursday, they were priced at about Rs 703 on the Bombay Stock Exchange (BSE) and Rs 700 on the Indian Stock Exchange (NSE), a premium of nearly 45 per cent to the IPO price of Rs 485 per share. This strong listing makes Dr. Chivukula’s gift one of the most significant examples of alumni philanthropy benefiting Indian educational institutions.
Giving back has always been part of his journey
Long before Dr Chiwukula made headlines for his record-breaking donations, he was quietly supporting several charities. In a rare interview, he revealed that he regularly donates Rs 3 lakh to Baptist Hospital every month, Rs 3 lakh to Asha Foundation every month and around Rs 50 lakh annually to Deenabandhu Trust in Mysuru.His philanthropy reflects a belief that success should create opportunities for others.Across India, alumni donations are starting to play a greater role in strengthening higher education. Donations from distinguished graduates such as Dr. Krishna Chivukula and Infosys co-founder Nandan Nilekani demonstrate how successful entrepreneurs can help universities build stronger research ecosystems and prepare the next generation of innovators.
Offering students a lesson beyond entrepreneurship
For students, Dr. Krishna Chivukula’s story is about more than just building a successful business. It reminds us that education is more than just a stepping stone to personal success, it can be a lifelong relationship.He left a prestigious corporate position to pursue entrepreneurship, invested his savings to build a globally competitive business, expanded an Indian company to international markets, and decades later chose to reinvest in the institution where his journey began.Today, as IIT Madras reaps the benefits of one of India’s most successful recent IPOs, his journey offers a powerful lesson: Education’s greatest legacy is not just the wealth it helps create, but the opportunities it opens up for future generations.