Ajay Piramal and Uday Kotak pledge support to their alma mater JBIMS

The Jamnalal Bajaj Institute of Management Studies (JBIMS) has ambitious plans to complement its newly acquired autonomous status. The institute is planning a facelift for its campus in South Mumbai. It is also breaking ground for a new campus in the suburbs, on land allotted by the Mumbai University.

These plans require funds, an estimated Rs 140 crore, according to Kavita Laghate, director, JBIMS. She says that the institute already has commitments for almost Rs 100 crore. Laghate says alumni such as Ajay Piramal and Uday Kotak have pledged support to their alma mater from their personal wealth.

Many others across batches have also come forward to lend a hand in the effort. They haven't just pledged monetary support, but are in fact taking an active part in the discussions for the changes being introduced. After JBIMS gained its autonomous status last year, the board of management was reconstituted. Apart from Kotak and Piramal, other illustrious alumni such as Chanda Kochhar, MD, ICICI Bank, and Noshir Kaka, MD, McKinsey India, are on the board as well. The board members were introduced at the institute's golden jubilee celebrations in May.