 IIM Lucknow was established in 1984 and is currently a centrally funded institution . It is the fourth Indian Institute of Management to be established in India after IIM Calcutta , IIM Ahmedabad , and IIM Bangalore . Noted Academician Ishwar Dayal played a significant role in setting up the institution , who also served as the founding director of IIM Lucknow for a period of four years . Industrialist Hari Shankar Singhania , took over as the chairman of Board of Governors in 1992 , served for a period of 15 years till 2007 . 
