So "only whites may apply for this scholarship" is fine then?
Clearly not IMO, there needs to be a morally defensible reason for restricting the field by physical characteristics; sex and skin colour/race are not good reasons in general.
Underrepresented is a funny phrase, it's a job, not a debating chamber. There are less women in some sectors, less men in others. Provided boys and girls aren't being unnecessarily inhibited from any career options then I don't see a problem -- if we stop discriminating in unrelated characteristics then ratios of the sexes in particular roles will find an appropriate level. That level will not be 50:50 in any sector I'd warrant.