IIM Lucknow opens MBA in Family Business; Phase 1 applications close Dec 31
By TUF News Desk · Published 14 October 2026 · 3 min read
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Family business owners who want a management degree now have a deadline to work with. IIM Lucknow has opened applications for a new two-year MBA in Family Business, and the first round of applications closes on December 31, 2026.
The programme was announced on October 13. A second application round runs until April 2, 2027, and the first batch starts classes in July 2027.
How the programme is structured
The course runs in a modular format rather than as a full-time residential programme. Participants travel to IIM Lucknow’s Noida campus for about seven days every month, which means business owners can keep working while they study.
The core of the programme is a set of six Family Business Labs spread across six trimesters. Each lab takes the participant’s own enterprise as the case study, moving through enterprise diagnosis, vision and strategy, succession, leadership transition, innovation and venture investing.
Classroom teaching runs alongside the labs and covers Family Enterprise Foundations, Family Business Governance, Growth Strategies, Leadership in Family-Managed Businesses, Succession and Generational Transition, Regulatory Frameworks and Strategic Venture Investing. The institute has also planned global immersion visits to family-run enterprises abroad, and select workshops will invite parents and elders to sit in on discussions about succession and governance.
Prof. Garima Mittal, who chairs the programme, said the course is meant to give the next generation of family business leaders the tools to handle change, push innovation and keep the business competitive while staying rooted in its legacy.
Who can apply
The eligibility criteria are narrow. Applicants must be owners or successors of a family business with a minimum annual turnover, or investment in the business, of Rs 20 crore.
They need a bachelor’s degree or an equivalent professional qualification such as CA, CS or ICWA, and a valid GMAT or GRE score. Candidates without either score can appear for IIM Lucknow’s own entrance examination.
Shortlisted applicants are called for a personal interview. The interview looks at how involved the candidate is in the family enterprise and what leadership role they expect to take on.
How to apply
Applications are submitted online through the MBA in Family Business application portal on the official IIM Lucknow website.
Keep scanned copies of Class 10, Class 12 and graduation mark sheets, a recent passport-size photograph, a digital signature and a valid GMAT or GRE scorecard ready before starting. Our admission documents checklist covers the scans most institutes ask for.
The application fee is Rs 3,000. One caution: the form cannot be edited after submission, so check every entry before clicking submit. The institute will publish the personal interview schedule and the final selection list on iiml.ac.in.
The MBA in Family Business is one of several programmes IIM Lucknow runs for working professionals; its Post Graduate Programme for Working Executives has its first application round closing on October 15.
Frequently asked questions
What is the last date to apply for IIM Lucknow MBA in Family Business 2027?
Phase 1 closes on December 31, 2026, and Phase 2 stays open until April 2, 2027. The first batch begins in July 2027.
Who is eligible for the IIM Lucknow MBA in Family Business?
Owners or successors of family businesses with a minimum annual turnover or investment of Rs 20 crore, holding a bachelor’s degree or a professional qualification such as CA, CS or ICWA.
Is the MBA in Family Business a residential programme?
No. It runs in a modular format: participants visit IIM Lucknow’s Noida campus for about seven days each month over six trimesters.
What documents are needed to apply?
Class 10, 12 and graduation mark sheets, a passport-size photograph, a digital signature and a valid GMAT or GRE scorecard.
Frequently asked questions
What is the last date to apply for IIM Lucknow MBA in Family Business 2027?
Phase 1 closes on December 31, 2026, and Phase 2 stays open until April 2, 2027. The first batch begins in July 2027.
Who is eligible for the IIM Lucknow MBA in Family Business?
Owners or successors of family businesses with a minimum annual turnover or investment of Rs 20 crore, holding a bachelor's degree or a professional qualification such as CA, CS or ICWA.
Is the MBA in Family Business a residential programme?
No. It runs in a modular format: participants visit IIM Lucknow's Noida campus for about seven days each month over six trimesters.
What documents are needed to apply?
Class 10, 12 and graduation mark sheets, a passport-size photograph, a digital signature and a valid GMAT or GRE scorecard.
Sources: The Indian Express, The Telegraph India, Collegedunia