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Abstract This study is an attempt to examine the application and usefulness of social media and mobile devices in transferring the resources and interaction with academicians in higher education institutions across the boundary wall, a hitherto unexplained area of research. This empirical study is based on the survey of 360 students of a university in eastern India, cognising students’ perception on social media and mobile devices through collaborative learning, interactivity with peers, teachers and its significant impact on students’ academic performance. A latent variance-based structural equation model approach was followed for measurement and instrument validation. The study revealed that online social media used for collaborative learning had a significant impact on interactivity with peers, teachers and online knowledge sharing behaviour. Additionally, interactivity with teachers, peers, and online knowledge sharing behaviour has seen a significant impact on students’ engagement which consequently has a significant impact on students’ academic performance. Grounded to this finding, it would be valuable to mention that use of online social media for collaborative learning facilitate students to be more creative, dynamic and research-oriented. It is purely a domain of knowledge.