MotilalOswal Foundation donates Rs. 130 Cr to IIT Bombay; one of the largest corporatephilanthropic contributions in India

·        Will set up Motilal OswalKnowledge Centre to facilitate the development of world class academicinfrastructure at IIT Bombay

·        Secondly, Motilal OswalCentre for Capital Markets will offer graduate, post-graduate courses &online diplomas in financial markets

Mumbai, 17thSept 2024 – In a pivotal move towards nation-buildingand advancing academic excellence in the financial sector, Motilal OswalFoundation and IIT Bombay have forged a historic partnership. Thiscollaboration will see the establishmentof world-class academic infrastructure and development of first of its kindprogram in financial markets at IIT Bombay, backed by a substantial INR 130 crore pledge from the Motilal OswalFoundation. This is the biggest commitment till date from the foundation setup by Motilal Oswal and RaamdeoAgrawal, the co-founders of MOFSL, by pledging 10% of Motilal Oswal FinancialServices'' equity, valued currently at ₹4,000 crores, towards philanthropic initiativesover the next decade. This also is one of the largest corporatephilanthropic contributions ever made to an Indian educational institution.

Under the MoU, Motilal Oswal Knowledge Centre will be setup in IIT Bombay’s campus, with an area of ~1 lakh –1.2 lakh sq. ft. This state-of-the-art academic block willserve as a hub for innovation, research, and academic excellence. Housingadvanced laboratories, research centres, and collaborative spaces, the MotilalOswal Knowledge Centre will enable IIT Bombay to attract world-class talentand further its mission of being a global leader in science and technology.

India''s financial sector, a key pillar of theeconomy, is evolving rapidly in size and complexity. The Motilal Oswal Centre for Capital Markets (MOCM) at IIT Bombay, isconceptualized with the objective of building high-end capabilities to enable theevolution and growth of the Indian Financial Sector. The multidisciplinaryCentre will draw expertise from areas such as Finance, Economics, Management,Operations Research, Computer Science, Artificial Intelligence and Mathematics.

MOCM plans to offer an array of academicprograms in Financial Markets, at the graduate, undergraduate and post-graduatelevels. The Centre also envisions offering flexible online Post GraduateDiplomas, making it accessible to professionals worldwide. MOCM promises to be a game-changer,offering students unparalleled access to industry leaders, hands-on trainingwith real-world data, and the opportunity to shape the future of financialSector. This initiative positions IIT Bombay at the forefront of financialeducation, making it the go-to destination for anyone looking to lead in theglobal financial markets.

Prof.Shireesh Kedare, Director of IIT Bombay, expressed gratitude for the monumentalsupport and said, "The MotilalOswal Knowledge Centre will be a significant milestone in IITBombay''s efforts to scale new heights of global excellence. This generousdonation will help us modernize and advance our infrastructure, essential forfostering ground-breaking research. The establishment of the Motilal OswalCentre for Capital Markets marks a pivotal moment for IIT Bombay. Thisinitiative will not only elevate the institute’s stature in financial educationbut also solidify its position as a leading hub for nurturing the nextgeneration of financial market leaders. It aligns perfectly with our broadervision of scaling new heights of global excellence and contributing to India’s leadershipon the global stage. We are immensely   gratefulto Motilal Oswal Foundation for their visionary contribution”

Commenting on the collaboration, Mr. Motilal Oswal, Trustee, Motilal Oswal Foundation, said, "At Motilal Oswal Foundation, we are committed to building aresearch backed educational ecosystem that will create a positive impact onfuture leaders of the nation. We are honoured to partner with IIT Bombay, aninstitution that is at the forefront of innovation and academic excellence. TheMotilal Oswal Knowledge Centre as well as Motilal Oswal Centre for Capitalmarkets stand as a testament to the power of strategic philanthropy and thepivotal role that partnerships between academia and industry can play increating lasting societal impact. We believe this partnership will pave the wayfor a brighter, more innovative future for the country and its financialmarkets.”

This landmark collaboration aligns with the Governmentof India''s broader vision of a ''Viksit Bharat,''where technological advancements and cutting-edge research are central tosocietal progress, sustainable development, and India’s global leadership.Forging strategic alliances with forward-thinking organisations like MotilalOswal Foundation allows IIT Bombay to secure sustainable, long-term funding,and foster mutually beneficial relationships with industry.

**Ends**

About IITBombay:

Indian Instituteof Technology Bombay, set up in 1958 as the second IIT is recognised worldwideas a leader in the field of engineering education and research. The Institutewas granted the status of ''Institution of Eminence'' by the Ministry ofEducation (the then Ministry of Human Resources Development) on July 9, 2018.IIT Bombay is reputed for the quality of its faculty and the outstandingcalibre of students graduating from its undergraduate and postgraduateprogrammes. The Institute has 17 academic departments, 31 (Centres/ Programmes/Academic facilities), three schools and three Interdisciplinary programmes.Over the last six decades, more than 70,000 engineers and scientists havegraduated from the Institute. It is served by more than 715 faculty membersconsidered not only amongst the best within the country but also highlyrecognised in the world for achievements in the field of education andresearch. On April 10, 2024, IIT Bombay was ranked 45th in Engineering and Technologyin the Quacquarelli Symonds (QS) World University Rankings by Subject for 2024.For More info: https://www.iitb.ac.in/

AboutMotilal Oswal Foundation:

Motilal OswalFoundation is the philanthropic arm of Motilal Oswal Financial Services Ltd.The foundation aims to provide opportunities for children and their families tobreak free from poverty and dependence, leading them towards self-reliance.Through education and skill-building initiatives, the foundation workstirelessly to create socially inclusive educational environments and bridge theeducational gap for underprivileged children and youth.To know moreabout the Motilal Oswal Foundation visit https://www.motilaloswal.com/foundation/index.html

For further details, contact:

Sonam Raheja

Manager, Corporate Communication,

Motilal OswalFinancial Services

Mob +917757072281/Mail: sonam.raheja@motilaloswal.com