Raipur, August 08, 2025: The Motilal Oswal Foundation (MOF) has pledged ₹172 crore towards strengthening educational infrastructure and fostering innovation in Chhattisgarh through strategic contributions to two premier institutions—Indian Institute of Management (IIM) Raipur and National Institute of Technology (NIT) Raipur.
Formalised through Memoranda of Understanding (MoUs) signed at DDU Auditorium, Raipur, the initiative includes ₹101 crore for IIM Raipur and ₹71 crore for NIT Raipur. The event was attended by dignitaries including Hon’ble Chief Minister Shri Vishnu Deo Sai, Dr. Suresh Haware, Chairman, NIT Raipur, Shri Puneet Dalmia, Chairman, IIM Raipur, Mr. Raamdeo Agrawal, Co-founder, Motilal Oswal Financial Services, and senior government officials.
The initiative, led by Mr. Raamdeo Agrawal, Chairman and Co-founder of Motilal Oswal Financial Services and Trustee of MOF, is a tribute to his native village, Nagpura, near Raipur. The funding will support infrastructure and programmatic expansion at both institutions.
At IIM Raipur, the funds will support construction of a 202-room hostel named “Agrawal Oswal Student Residence” and an academic block “Dau Ram Gopal Agrawal Knowledge Centre,” in memory of Mr. Agrawal’s father. The initiative aims to increase student capacity from 500 to 1,200 by 2030 and facilitate the launch of six international dual-degree MBA programs in collaboration with institutions from the US, UK, France, and Germany.
At NIT Raipur, the Foundation will establish the “Smt. Mithilesh Agrawal Centre of Excellence for Innovation and Entrepreneurship in Engineering and Technology” (MACIEET), named after Mr. Agrawal’s mother. The Centre will focus on deep-tech domains such as AI, Robotics, Blockchain, IoT, and Clean Energy, and aims to train over 10,000 youth, incubate more than 250 startups, and generate 5,000 skilled jobs by 2030.
“Chhattisgarh is where my roots lie... Education opened doors I had never imagined,” said Mr. Raamdeo Agrawal. “This support to the IIM Raipur and NIT Raipur is life coming full circle for me... offering young minds an environment where they feel inspired, supported, and confident to dream big.”
Mr. Motilal Oswal added, “This contribution is a heartfelt tribute to the land that sowed the seeds of our growth. We hope these institutions will produce hundreds of students like Raamdeo.”
Shri Puneet Dalmia noted, “This initiative empowers us to nurture a new generation of inclusive, impact-driven business leaders.”
Dr. Suresh Haware said, “We are creating a self-sustaining ecosystem that will empower our youth and strengthen our industries.”
Construction is expected to begin in FY2025-26, with both projects set to be operational by FY2027-28. The commitment supports India’s Viksit Bharat @2047 vision by investing in youth and regional innovation.
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