Ashoka University to raise ₹1,500 crores for expansion
- ByAyushi Ray | September 9, 2021
Ashoka University to raise ₹1,500 crores for expansion. The amount will be raised from businessmen, non-resident Indians (NRIs), and high net-worth individuals (HNIs). The private university, whose co-founders have invested more than ₹1,000 crore to build the first campus, has entrusted Ashish Dhawan, the co-founder of private equity fund ChrysCapital Investment Advisors, to lead the fundraising. Dhawan said the funds will be utilised to build a second campus on a 27-acre plot adjacent to the university. The land was purchased from the Haryana government.
The 1.8-million sq. ft new campus will be built in three phases of two years each. “Last decade, it was about starting Ashoka and this decade it will be about building and expanding Ashoka,” Dhawan said in an interview. “We are well placed to take up the next phase of growth for Ashoka University. This second campus and the funds we are raising shall be utilized to make Ashoka diverse from largely a liberal arts university by adding new-age science and deep-tech wings, departments and research and development labs. This will also allow us to double our student and faculty capacity over time,” he said.
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