Manjunath, a B.Tech IIIrd year student, was pursuing computer science at the premier institute and hailed from Karnataka.
Police officials said that the student was found hanging by the ceiling fan in Hall 5 hostel Wednesday morning by his classmates.
Kalyanpur police station in-charge Anand Prakash Mishra told IANS that friends of Manjunath said he was apparently suffering from stress and depression.
This is the third suicide in IIT-K campus since December last year.
Authorities said that formalities were being completed and added that the family of the dead student has been informed.