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Also, barely anyone from IPM made it to T1 B-Schools. Mods, please do your due diligence before marking anything contested. In fact, the question itself should be marked contested because it's not true.
The main thing about an IPM should be that it gives high paying management jobs, not having to immediately look for an actual MBA. It's more of an endorsement of the hard work of the students that got in, not NALSAR.