Aditya Birla group sets up £15m grant for MBA at LBS

In the largest endowment for a European B-school, the Aditya Birla Group has announced a £15-million grant for an MBA programme at the London Business School. Called the BK Birla Scholars Programme, it aims to support education of 10 full-time MBA students every year in perpetuity, the group said in a statement on Thursday. The scholarship envisions supporting five students from the country and an equal number from elsewhere.
London Business School (LBS) is the alma mater of the group chairman Kumarmangalam Birla. The announcement comes in the wake of the demise of Birla’s grandfather, industrialist and philanthropist Basant Kumar (BK) Birla, who passed away on July 3 at the age of 98.
Birla said the scholarship honours the legacy of BK Birla through something enduring. “Through this programme, we look to build a diverse and vibrant community of next generation leaders who are committed to the ideals of integrity, dedication and service to humanity. The very values epitomised by my grandfather,” said Birla, referring to the programme for which the “top 5% of the class” will be eligible.
Reacting to the news, Fra- nçois Ortalo-Magné, dean of LBS, said: “It’s an incredible gift to be able to honour BK Bi-rla’s memory with this prestigious scholars programme.”