According to University Proctor Prof Mohsin Khan, the incident took place in Dodhpur locality, adjoining the AMU campus in Civil Lines area yesterday night.
Nadeem Ansari was rushed to the Jawaharlal Nehru Medical College where doctors said that he was "stable" and out of danger.
Police said Mr Ansari was shot at and stabbed by two armed assailants who forced him to stop while he was heading to his home in a two-wheeler. "The bullet missed his vital organs and passed through his shoulders. The miscreants then stabbed him but by then locals rushed to his rescue. The attackers then sped away," Prof Khan said today.
In his statement to police, Mr Ansari has named two former students of the University - Salman and Arman - both resident of Badaun district.
As news of the incident spread, a large number of students gathered at the Medical College Hospital, demanding the immediate arrest of the attackers.
Senior University officials, including the University's Vice Chancellor, Prof Tariq Mansoor visited the Hospital and assured the victim of all necessary help.