Deepeana Dipitam Iti, Pa alnena Palitam,
Aayurdaayakam, Walnana Arjitam
Layayogena Iipsitam Iti Deepawali
Deepawali Prakashyeta Khalu Sarvam!!

दीपाना दिपितम आईटीआई, पा अल्नेना पलितम,
आयुर्दायाकम, वाल्नना अर्जितम
लययोगेना ईप्सितम आईटीआई दीपावली
दीपावली प्रकाश्येता खलु सर्वं!!

The translation runs as:
May the Deepawali (Diwali) take the humanity towards Eternal Light! This light is the physical light created by the earthen Lamp, for seeing around, where I do exist. May it lead me to Eternal flame and to provide me meaningful Long life, the higher Yoga of Supreme realization and grant me the boon of Spiritual illumination!

courtesy : http://www.kashmirgroup.com/kpi/kpi_one.jsp?sino=541