New Delhi, Oct. 21 -- Indian Institute of Technology in Delhi (IIT-Delhi) has stepped up an effort to garner $1 billion dollar over the next six years as endowments from alumni including Sachin Bansal and industry and will be announce on 31 October, two days ahead of its Golden Jubilee celebration on 2 Nov.

IIT-Delhi director V Ramgopal Rao has already had a meeting with Bansal, investment firm Westbridge Capital's managing director Sandeep Singhal, founder of IvyCap Ventures Vikram Gupta and Gautam Kumra managing partner of India of McKinsey among others. Gupta is leading the fund raise campaign for IIT-Delhi.

"Watch out for a big announcement soon. The list is evolving," Rao told Mint. A professor at IIT-Delhi said that the initial an...