Infosys Foundation, Edelweiss, UTI, PwC, Shapoorji Pallonji, Arvind Ltd. and Ajay Banga and Ritu Banga have contributed Rs. 21.5 crore as a donation to the Indian Institute of Management, Ahmedabad, taking the total raised in the last few years to Rs. 110 crore. An anonymous contribution of Rs.10 crore has also been made by an alumnus, which will be used for admissions process (Rs.5 crore) and to promote entrepreneurship (Rs.5 crore) among students.
Rs.50 lakhs, alumni contributions from two batches 1986 and 2014 will also be used to upgrade the child care centre of the institute. The institute has announced five new chaired professors’ positions and three students’ scholarships. In July this year, IIM-A had also received a donation of Rs.50 crore by JSW Steel Ltd. to establish a school of public policy in the campus.