Success is often measured by the companies entrepreneurs build. But for IIT Madras alumnus Dr Krishna Chivukula, success has also meant giving back to the institution that helped shape his journey. More than five decades after graduating from IIT Madras, he donated 46.15 lakh shares of his company, Indo-MIM Pvt Ltd (IUMT), to his alma mater, a gift valued at around 228 million rupees at the time and the largest alumni donation the high school had ever received.This remarkable gesture has now created another milestone. When Indo-MIM made its stock market debut on July 30, IIT Madras sold some of the shares given through the Offer for Sale (OFS), fetching nearly Rs 112 crore. The transaction is believed to be the largest cash distribution ever received by an Indian university through an IPO, underscoring how the gratitude of an alumnus is now helping to bolster research and innovation at his alma mater.
From IIT Madras graduate to global entrepreneur
Dr Krishna Chivukula completed his MTech in Aerospace Engineering from IIT Madras in 1970 before embarking on an entrepreneurial journey that would eventually create one of India’s leading precision engineering companies.His career has been defined by bold decisions. At just 37, he resigned as CEO of the Hoffman Group of Companies, then valued at more than $400 million, to pursue entrepreneurship. He invested his life savings, around $2 million, to establish Shiva Technologies, which was later acquired by EAG Laboratories in 2007 in a deal said to be worth more than $100 million.In 1996, he founded Indo-MIM as a joint venture before eventually acquiring full ownership. Over the next three decades, the company became one of the world’s leading manufacturers of precision engineering components using metal injection molding (MIM) technology.Today, Indo-MIM serves customers in 55 countries, manufactures over 6,400 precision engineering products and spans sectors ranging from automotive and aerospace to defense, medical devices and consumer goods. In FY26, the company reported total revenue of Rs 4,320.7 crore and profit after tax of Rs 533.5 crore, reflecting its strong global presence and financial performance.
A historic gift that continues to benefit IIT Madras
On February 1, 2024, Dr. Chivukula donated 46.15 lakh shares of Indo-MIM to IIT Madras. The donation, valued at approximately Rs 228 crore, became the largest alumni contribution in the institute’s history and the third largest alumni donation ever made to an Indian educational institution.The institute honored him by placing his name on a campus block on August 6, 2024.The contribution also helped IIT Madras cross Rs 500 crore in grants in FY24 for the first time, giving a major boost to research, innovation, laboratories and academic programmes.The latest IPO has further amplified this impact. Indo-MIM’s Rs 3,811 crore public issue attracted overwhelming interest from investors, with the IPO subscribed 98.47 times in total. Qualified Institutional Buyers (QIBs) subscribed nearly 296 times, reflecting strong institutional confidence in the company.When the stock traded on the bourses on Thursday, it debuted at around Rs 703 on the BSE and Rs 700 on the NSE, representing a premium of nearly 45 per cent over the IPO price of Rs 485 per share. The strong list has turned the donation of Dr. Chivukula in one of the most significant examples of alumni philanthropy benefiting an Indian educational institution.
Giving back has always been part of his journey
Long before he made headlines for his record donation, Dr Chivukula had been quietly supporting various charitable causes. In a rare interview, he revealed that he regularly donates Rs 3 lakh every month to the Baptist Hospital, another Rs 3 lakh monthly to the Asha Foundation and around Rs 50 lakh annually to the Deenabandhu Trust in Mysore.His philanthropy reflects the belief that success should create opportunities for others.In India, alumni contributions are beginning to play a larger 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 groom future generations of innovators.
A lesson for students beyond entrepreneurship
For students, Dr. Krishna Chivukula’s story is much more than building a successful business. It’s a reminder that education is not simply a stepping stone to personal success, but can become a lifelong relationship.He left a prestigious corporate role to pursue entrepreneurship, invested his own savings to build globally competitive businesses, expanded an Indian company into international markets, and decades later chose to reinvest in the institution where his journey began.Today, as IIT Madras benefits from the proceeds of one of India’s most successful recent IPOs, its journey offers a powerful lesson: education’s greatest legacy is not just the wealth it helps create, but the opportunities it provides for generations to come.