Bengaluru: In a landmark philanthropic initiative rooted in legacy and nation building, the Motilal Oswal Foundation (MOF) has committed ₹172 crore towards two of Chhattisgarh’s premier educational institutions, the Indian Institute of Management (IIM) Raipur (₹101 crore) and the National Institute of Technology (NIT) Raipur (₹71 crore). The formal signing of the Memoranda of Understanding (MoUs) was held today at DDU Auditorium, Raipur in the august presence of Hon’ble Chief Minister Shri Vishnu Deo Sai, Hon’ble Deputy Chief Minister Shri Vijay Sharma. Also present were Shri Brijmohan Agrawal, Hon’ble Member of Parliament, Raipur constituency and Shri Rajesh Munat, Hon’ble MLA, Raipur (West), Dr. Suresh Haware, Chairman NIT Raipur, Shri Puneet Dalmia, Chairman IIM Raipur, Dr. N. V. Ramana Rao, Director NIT Raipur, Dr. Sanjeev Prashar, Incharge Director IIM Raipur, IAS Dr. S. Bharthidasan, Secretary, Department of Skill Development along with Mr. Raamdeo Agrawal, senior officials from IIM Raipur, NIT Raipur, and the Government of Chhattisgarh.
This initiative, spearheaded by Mr. Raamdeo Agrawal, Chairman and Co-founder of Motilal Oswal Financial Services and Trustee of Motilal Oswal Foundation, is deeply personal. A proud native of Nagpura, a village near Raipur, Mr. Agrawal is giving back to the land of his birth and early education by investing in institutions that will define the region’s future.
The support to IIM Raipur will enable the construction of the “Agrawal Oswal Student Residence,” a 202-room hostel, and the “Dau Ram Gopal Agrawal Knowledge Centre,” an academic block named in memory of Mr. Agrawal’s late father. These additions are part of the institute’s expansion and will help increase the institute’s capacity from 500 to 1,200 students by 2030. The funding will also facilitate the launch of six international two-year dual degree MBA programs in collaboration with leading universities from the USA, UK, France, and Germany, enabling global education and preparing students from Bharat for international careers. It will help position IIM Raipur as an eminent institution in the top league.
At NIT Raipur, the Foundation is helping to establish the “Smt. Mithilesh Agrawal Centre of Excellence for Innovation and Entrepreneurship in Engineering and Technology” (MACIEET), named after Mr. Agrawal’s late mother. This initiative is being carried out in collaboration with NIT Raipur and the Government of Chhattisgarh. The centre will feature advanced laboratories focusing on AI, Robotics, Blockchain, IoT, and Clean Energy, along with facilities for prototyping, start-up incubation, and skill development. Its goal is to train over 10,000 young people, incubate over 250 start-ups, and generate 5,000 skilled jobs by 2030, aligning closely with the state’s key industrial sectors such as mining, iron, and steel. This will make NIT Raipur a centre of innovation.
Construction is scheduled to commence in FY2025-26, with both projects expected to be operational by FY2027-28. This philanthropic commitment by the Motilal Oswal Foundation supports the national vision of Viksit Bharat @2047 by empowering India’s youth with access to global quality education, skill-building, and entrepreneurship opportunities.