IndiGo co-founder gifts 100 crore to IIT-K

MUMBAI: In what could be one of the largest donations by an individual to the IITs, IIT-Kanpur will receive Rs 100 crore from one of its alumni – Rakesh Gangwal, co-founder of IndiGo Airline.
The endowment will be made to the institute over a period of two years. The funds will be used for setting up the Gangwal School of Medical Sciences and Technology, which will also include a 500-bed super specialty hospital on the campus.
Among large contributions in the past, Binny Bansal from Flipkart committed Rs 100 crore to IIT-Delhi. Bansal was to release the sum over five years. A total of Rs 36 crore has already been donated by him to the institute.
On Monday, an agreement was signed between IIT-Kanpur and Rakesh Gangwal to work together on establishing the School of Medical Sciences.