Mumbai University likely to enter capital market

Mumbai University likely to enter capital market
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First Published: Fri, Mar 30 2007. 12 35 PM IST
Updated: Fri, Mar 30 2007. 12 35 PM IST
PTI
Mumbai: Mumbai University is likely to become the first of its kind in the country to tap the capital market to the much-needed resources for upgrading its quality education and expansion plan.
With the expanding student population and inability to provide required facilities, the University has mooted the idea of getting itself listed in the Bombay Stock Exchange and will conduct a feasibility study for the purpose, Vice- Chancellor Dr Vijay Khole told PTI today.
“In this regard, we have made a proposal at the Senate meeting held yesterday to conduct a feasibility study by our academics and asked for an allotment of Rs2 lakh for the same,” Khole said.
This is a proactive step taken by the university to improve the funding of the university and also to go global in the near future, he said.
Asked whether the university will be appointing any global professionals for the feasibility study, Khole said, “we will be appointing our own academics as the fund for the study is only Rs2 lakh.”
“The concept of universities trading in stock market is not new in Asia and the practice was in vogue in Republic of Korea and China,” he said adding that such practices are seen in the Western countries too.
Currently, over Rs250 crore has been attracted from state and central funding and this may not be sufficient for long-term maintenance of the new infrastructure and centres that are coming up in the university, the finance managers of the university said.
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First Published: Fri, Mar 30 2007. 12 35 PM IST
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