All posts tagged: IIT-M

IIT Madras likely to fetch ₹70 crore via stake sale in Indo-MIM IPO, to invest in innovation

IIT Madras likely to fetch ₹70 crore via stake sale in Indo-MIM IPO, to invest in innovation

Published by Parlour News

The value of IIT Madras’ holding is estimated at more than ₹140 crore at the expected valuation, as per market and investment banking officials. | Photo Credit: B. VELANKANNI RAJ The Indian Institute of Technology, Madras (IIT Madras) will monetise around half of its total holding worth ₹140 crore from the forthcoming Initial Public Offering (IPO) of Indo MIM Ltd., a company which provide end-to-end solutions for the manufacture of precision engineering components for automotive, aerospace, defence, and consumer product companies using metal injection moulding (MIM) technology. Indo MIM Ltd. promoter Krishna Chivukula, who studied in IIT Madras has gifted 1% stake of his company to IIT Madras acknowledging its contribution in shaping the company’s current positioning as the largest manufacturer globally of precision engineering components using MIM technology. IIT Madras is proposing to sell up to 23,07,700 equity shares of face value of ₹1 each out of its total holding of 46,15,385 equity shares, which account for around 1% of the total equity capital of Indo MIM Ltd. The value of IIT Madras’ holding …

More Unicorns will emerge from the campus, says IIT-Madras Director

Published by Parlour News

Each year an Unicorn will emerge out of Indian Institute of Technology-Madras (IIT-M), said V. Kamakoti, Director of the institute. While talking to media about the ongoing Entrepreneurship Summit at the campus, he said: “If India has to become a superpower, we need innovation and entrepreneurship. We are even nurturing school students on entrepreneurship.” The IIT-M Entrepreneurship Cell is hosting the 9th edition of its annual Entrepreneurship Summit from March 7-10, 2024 to promote innovation and entrepreneurship. According to IIT-Madras, this is the first-ever student-run entrepreneurial gathering in India to have received ISO, Startup India, and UNESCO certifications. Soham Sawde and Sushanth Shenoy, the student heads of the IIT-M Entrepreneurship Cell, said the summit would feature over 1,000 founders, 50 investors and more than 15,000 students from over 400 colleges, across India. The duo said that there would be four conclaves -Youth Conclave, Innovators’ Conclave, Start-up Conclave anchored by Vi Business, and Start-up Essentials Conclave anchored by Trilegal. “We also have a fund raising competition called “Elevate” where startups can potentially get funding from prominent …