90 IIM Mumbai students get Rs 5 lakh scholarship each from Nayara Energy

Ninety MBA students of the Indian Institute of Management (IIM Mumbai) have received scholarships worth Rs 4.5 crore from Nayara Energy, an integrated downstream energy and petrochemicals company. As part of the scholarship initiative, the company has provided Rs 5 lakh each to 50 first-year full-time MBA students and 40 second-year students.

The financial grant aims to support education, innovation and the development of future-ready talent in entrepreneurship, sustainability, and technology.

Prasad K Panicker, executive chairman, Nayara Energy, said: “Education is a powerful enabler of opportunity and inclusive growth. At Nayara Energy, we believe in creating pathways for young people to realise their potential, irrespective of their socio-economic circumstances. Our scholarship programme at IIM Mumbai is a reflection of this commitment and our focus on supporting the development of capable, future-ready talent for India.”

The financial grant is aimed at enhancing access to quality management education and enabling students from socio-economically disadvantaged backgrounds to pursue higher education without financial constraints, according to an official statement.

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Nayara Energy to invest Rs 17.5 cr in IIM Mumbai over next two years

MBA students were awarded scholarship letters during an event at IIM Mumbai , from Panicker, where Manoj Kumar Tiwari, director, IIM Mumbai and other dignitaries also took part.

“The scholarship programme forms part of Nayara Energy's broader engagement with IIM Mumbai to support education, innovation and future-ready talent development, including initiatives in entrepreneurship, sustainability and emerging technologies,” the statement read.

The scholarship initiative by Nayara Energy also works across school education, education continuity, youth skilling, employability, and scholarships for students from disadvantaged communities.

Notably, the petrochemical company has also announced to invest Rs 17.5 crore over the next two years for IIM Mumbai’s education, entrepreneurship and innovation. This includes support to strengthen the start-up ecosystem, developing solutions for India's sustainability transition, it said.