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Hello Piyush,
When it comes to a course from IIM, I dont think one needs to think twice and that too regarding placements is out of the question too.
Please note IIM Indore offers the IMP course a 5 years integrated course for any 12th pass student, who can clear the entrance exam followed by personal interview.
As such if you graduate with this course, I dont think you would require to appear for CAT for an MBA. As the course covers the 2 years program too and yes followed by placements.
Only if you are unable to clear the entrance exam and personal interview think of the 2nd option. But my suggestion would be put in all your efforts and be positive and confident. Leave no stone unturned. If possible befriend someone who is pursuing the course and take tips for preparation. But joining any coaching classes would be sufficient. Prepare for generic questions and keep yourself upbreasted with the latest information.
For more information check:
http://www.iimidr.ac.in/news-events/iim-indore-ipm-admissions-2016-begin-aptitude-test-on-may-13/
Wish you good luck...
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