IIM Mumbai Admission 2024: Application Opens; MBA Fee Increased to Rs.21 lakhs; Launches 3 Full Time MBA Programmes; Check Eligibility, Selection Process, CAT 2023 Cut offs

Add Review

Register now for latest MBA Exam & Admissions Updates

MBAUniverse.com News Desk |
October 21, 2023
On getting IIM Mumbai Status, NITIE has released Admission Policy 2024 with revamped eligibility criteria, CAT cut off, shortlisting & Final selection criteria with weightage components, newly launched 3 full time MBA programs, revised fee structure. IIM Mumbai will consider CAT 2023 scores overall and section wise in MBA admission 2024. Application is open for IIM Mumbai MBA admission 2024 and the last date to apply is January 31, 2024
IIM Mumbai Admission

The 21st IIM of India, IIM Mumbai has opened its application process for MBA Admission 2024 with a revamped admission criteria. The 2 years MBA programme fee has also been increased to Rs.21 lakhs which at par with top IIMs and is more than any of the other 13 new generation and baby IIMs. Despite being a new entrant to IIM family, the IIM Mumbai has a legacy of 60+ years and was formerly known as NITIE Mumbai till August 2023. After being renamed as IIM Mumbai , as per Gazette notification dated 16th August, 2023, this 21st IIM has announced its Admission policy 2024 and has launched following three MBA programs with substantial increase in number of seats

IIM Mumbai MBA Programs
Master of Business Administration (MBA)
MBA (Operations and Supply Chain Management) 
MBA (Sustainability Management)
Total Seats in IIM Mumbai MBA Programmes

IIM Mumbai Admission 2024: Latest Updates

  • Application Process: Opened on October 18, 2023 for MBA Admission 2024
  • IIM Mumbai Flagship MBA Programme: MBA (Operations and Supply Chain Management)   
  • 2 Years MBA Fees: Goes up at Rs.21 lakhs for 2024-26 Batch from Rs.14.63 lakhs
  • Overall CAT 2023 Cut off: 85%ile for Shortlisting
  • No GD or WAT in final section process
  • Academics, Work Experience, Gender Diversity get 25% weight in final selection

IIM Mumbai has launched MBA programs from the academic session 2024-25 with key changes in the eligibility criteria without keeping engineering degree as mandatory requirement. IIM Mumbai admission policy 2024 is released on the lines of top IIMs with key changes in admission criteria, CAT cut off, weightages for key components in shortlisting and final selection process. For MBA admission 2024 at IIM Mumbai, you should apply separately online apart from applying for CAT 2023.

Announcing the inclusion of NITIE as IIM Mumbai in the list of IIMs, CAT 2023 Centre has released a Notification to this effect on August 29, 2023, “Indian Institutes of Management (IIMs) Common Admission Test (CAT) 2023 Important Announcement (dated: 29.08.2023) As per Gazette notification 16th August (26 CG-DL-E-16082023-248126) by Ministry of Education Govt of India, National Institute of Industrial Engineering (Formerly known as NITIE) Mumbai has been included in the IIM amendment Act 2023 as 21st IIM and now it is known as Indian Institute of Management Mumbai (IIM Mumbai).” 

iim mumbai

10 Key Changes in IIM Mumbai Admission 2024
This is the first time that Government of India has renamed an existing management institute NITIE as an Indian Institute of Management (IIM) Mumbai. So far, all the 20 IIMs were set up as new IIMs. As such, the admission policy and admission procedure of NITIE is on the lines of other IIMs. Following are the big changes that NITIE has updated in its admission policy 2024 for MBA Admission 2024

1. Launch of MBA Programs in Place of PGDMs: As NITIE becomes IIM Mumbai, it is now an MBA-awarding IIM which has opened admission to the students from all streams. This will improve academic and gender diversity at IIM Mumbai. As already announced, IIM Mumbai will offer three 2 years full time MBA programs instead of PGDM programs. Till now, NITIE used to award AICTE approved diploma like PGDIM, PGDIE. However, after becoming an IIM as per the Act of Parliament, it is authorized to award MBA degree as other IIMs do. As such, NITIE has launched following 3 MBA programs replacing the PGDM programs from academic session 2024-25:

New Program/Changed Program Name
Current Program Nomenclature
Master of Business Administration (MBA)
Post Graduate Diploma in Industrial Management (PGDIM)
MBA (Operations and Supply Chain Management) – Flagship Program of IIM Mumbai
Post Graduate Diploma in Industrial  Engineering (PGDIE)
Master of Business Administration - Sustainability Management (MBA-SM)
Post Graduate Diploma in Sustainability Management (PGDSM)
Master of Business Administration-Executive (MBA-Ex)
Post Graduate Program for Executives (PGPEX-VLFM)
Master of Business Administration-Executive in Fintech (Ex-MBA Fintech)
To be launched with the National Stock Exchange
Doctor Level Fellowship Programme

The plans are also to increase the capacity of its two hostels under construction at its campus.

2. IIM Mumbai Revamps Eligibility Criteria with CAT 2023 Overall & Sectional scores
NITIE, as IIM Mumbai will accept CAT 2023 score-overall and sectional also like other IIMs and has revamped its eligibility criteria for MBA admission 2024. CAT 2023 Centre at IIM Lucknow has announced, “IIM Mumbai will use the CAT 2023 score for admissions 2024 for all these MBA programmes. IIM Mumbai will announce admission policy and application form separately for these programs at IIM Mumbai website (https://iimmumbai.ac.in/) in due course.”

So far NITIE accepted overall CAT score for admission but for admission 2024, IIM Mumbai to consider CAT 2023 score sectional and overall both. Now the NITIE IIM Mumbai admission 2024 will be through CAT sectional and overall cut offs. In the revised Admission 2024 criteria, IIM Mumbai Eligibility for MBA admission 2024 program wise has been revamped as under

2.1 IIM Mumbai Admission Eligibility Criteria for MBA 2024

  • The candidate must hold a Bachelor’s Degree, with at least 50% marks or equivalent CGPA [45% in case of candidates belonging to the Scheduled Caste (SC), Scheduled Tribe (ST) and Persons with Disability (PwD) categories]
  • Students in the final year of above degree can also apply provided they qualify the above criteria for examinations appeared till date and complete their examination, viva voce etc, by the time of joining the Institute.
  • Applicants should take the Common Admission Test (CAT) conducted by the Indian Institutes of Management (IIMs) in order to apply for the programs.

2.2 IIM Mumbai Eligibility 2024 for MBA Operations & Supply Chain Management

  • Full-time Engineering/Technology degree in any branch from a recognized university/institution with aggregate 50% marks (relaxed by 5% for SC/ST/PwD candidates). OR 
  • Full-time degree from a recognized university with aggregate 50% marks (relaxed by 5% for SC/ST/PwD candidates) in M.Sc. (Mathematics), M.Sc. (Statistics), Dual Degree (Maths and Computing) Minimum 5 yrs, BS./B. Tech (Economics) Minimum 4 yrs.
  • Students in the final year of above degree can also apply provided they qualify the above criteria for examinations appeared till date and complete their examination, viva voce etc, by the time of joining the Institute
  • Applicants should take the Common Admission Test (CAT) conducted by the Indian Institutes of Management (IIMs) in order to apply for the programs.

2.3 IIM Mumbai Eligibility 2024 for MBA Sustainability Management

  • The candidate must hold a Bachelor’s Degree, with at least 50% marks or equivalent CGPA [45% in case of candidates belonging to the Scheduled Caste (SC), Scheduled Tribe (ST) and Persons with Disability (PwD) categories]
  • Applicants should take the Common Admission Test (CAT) conducted by the Indian Institutes of Management (IIMs) in order to apply for the programs.

3. IIM Mumbai Application for Admission 2024: Dates, Fee & Process
IIM Mumbai has announced its own application process and fees. An eligible candidate, has to register and apply for CAT 2023 and has also to apply for IIM Mumbai admission 2024. IIM Mumbai application process for admission 2024 has following two steps:

3.1 Register and Apply for CAT 2023
Those who have applied for CAT 2023 and appear in the exam on November 26, 2023 are eligible to apply for IIM Mumbai. Key dates for CAT 2023 are

CAT 2023-Timelines
Registration & Application Fees
Last date to Apply
CAT 2023 Registration
Rs.2400 for General Category
Rs.1200 for SC/ST/Pwd
Sept 21, 2023
CAT 2023 Exam Date
November 26, 2023
Mandatory Exam for IIM Mumbai Admission 2024

3.2 Apply for IIM Mumbai Admission 2024
IIM Mumbai has opened its application process for MBA admission 2024. You need to apply separately for IIM Mumbai admission at its website

IIM Mumbai Application Timelines
Key Dates
Application Fee
IIM Mumbai Application Start Date
October 18, 2023
Apply Online
IIM Mumbai Application Last Date
January 31, 2024
Submit by 5 PM
IIM Mumbai Application Fees
Rs.2000 for General Category
Rs.1000 for SC/ST/Pwd
Pay Online only

4. IIM Mumbai Admission Policy 2024: Each IIM announces its own admission policy with minimum eligibility criteria to be considered for first stage of admission, shortlisting criteria with CAT cut off, and final selection criteria. For example, NITIE has so far been a B-School which offered admission to engineers and required degree in Engineering and Technology for admission to its PGDIM and PGDIE programs whereas all the IIMs need graduation in any discipline. As IIM Mumbai, NITIE has announced to accept graduation in any discipline and has released its admission policy 2024 comprising all the components in accordance with admission policy of other IIMs to improve diversity in its class rooms.

According to Prof Tiwari, “Diversity is a key component for IIM” and added, “This tailor–made approach is looking at new age industry requirements and so we are confident of continuing to offer the same quality.”

5.  IIM Mumbai MBA Admission 2024: Process is Open
Since NITIE used to open and close its application process separately, only those candidates who were interested in admission at NITIE used to apply. Now as IIM Mumbai, NITIE is an autonomous and independent IIM but it was not included in CAT 2023 Notification released on July 30, 2023 nor the CAT 2023 application form included the name of IIM Mumbai. As such, the CAT 2023 aspirants were required to register for CAT 2023 and also have to apply separately for IIM Mumbai to express their interest for IIM Mumbai admission 2024.

6. IIM Mumbai CAT 2023 Cut Off: So far NITIE did not pre-announce CAT cut off, neither overall nor sectional. After becoming IIM Mumbai, NITIE will apply overall as well as sectional CAT cut off and has pre-announced the minimum cut offs required for each category of candidate. The CAT 2023 cut offs at IIM Mumbai as announced by NITIE are in line with other top IIMs as below:

Section-1 VARC
Section-2 DILR
Section-3 QUANT
CAT 2023 Overall percentile

Source: IIM Mumbai Admission Policy 2024

7. IIM Mumbai Shortlisting Criteria & Weightage: After becoming IIM Mumbai, NITIE has now clearly updated on its website the key components of shortlisting criteria and weightages. For example, apart from CAT cut offs, IIM Mumbai will consider academic profile, diversity, work experience in its shortlisting criteria and will award due weightage as below for admission 2024:

  • Candidates will be shortlisted based on CAT 2023 score and other parameters like reservation category, gender diversity among others
  • Appropriate weightage in overall CAT score and sectional cut-offs shall be considered for gender diversity
  • The actual section-wise and overall percentile cut-offs may be much higher than the above mentioned minimum percentiles as it will depend upon the number of candidates to be called for personal interview (PI) in each category
  • Shortlisted candidates will be called for Personal Interview (PI) based on their CAT-2023 score along with sectional cut offs considering their reservation category and gender diversity

8. IIM Mumbai Final Selection Criteria & Weightage: All the IIMs release the components and weightages for final selection of candidates. On the same lines, NITIE as IIM Mumbai has updated the components and weightages for final selection round. For example, it will conduct PI only and will not conduct WAT or GD or Extempore and the like. Besides, IIM Mumbai will award weightage for CAT score, Academics, Work Experience and Diversity as below: 

MBA Admission 2024: Percentage weight on a scale of 100
CAT 2023 score
Personal Interview (PI)
Academic Performance & Work Experience
Gender Diversity
Total Weightage

Source: IIM Mumbai Admission Policy 2024

9. IIM Mumbai Fees Revised for 2024-26 Batch: The program fee structure with detailed break up of components, is updated and clearly displayed by IIMs on their websites. IIM Mumbai (NITIE) has also increased its present MBA fee of Rs.14.63 lakhs to Rs.21 lakhs for two years MBA programme. The fee structure is as below:

IIM Mumbai MBA Fee 2024-26

Fee Component
Fee Amount
Tuition Fees
Rs.14.00 Lakhs
Caution Deposit
Rs.  0.50 Lakhs (Rs.50 thousand)
Other expenses
Rs.  6.50 Lakhs
Rs.21.00 Lakhs

Source: IIM Mumbai

Citing the reasons for fee increase, Prof Tiwari said, “The fee is increased in order to reduce dependency on government grants.” MBA Fees is an important component and many CAT toppers sometimes decline their admissions to top IIMs due to their high fees.

9.1 IIM Mumbai Fees Lower than other Top IIMs
NITIE, as IIM Mumbai has not increased its MBA fee at the level of other top IIMs and its fee is still lower than many other IIMs. A comparative analysis is as below:

2 Years MBA Fees (Rs.in Lakhs)
IIM Ahmedabad Fees
Rs. 24.61 lakhs
IIM Bangalore Fees
Rs. 24.70 lakhs
IIM Calcutta Fees
Rs. 25.00 lakhs
IIM Lucknow Fees
Rs. 21.75 lakhs
IIM Indore Fees
Rs. 21.17 lakhs
IIM Mumbai Fees
Rs. 21.00 lakhs

10. IIM Mumbai Placements 2023: IIMs release their year wise placement reports with complete details and batch profile. Some of the IIMs like IIM Ahmedabad also follow IPRS standard while releasing their placement statistics. As IIM Mumbai, NITIE has also released the details of campus placements 2023. Key highlights of IIM Mumbai Placements are:

IIM Mumbai Placements 2023: Key Highlights

  • Highest Salary for 2021-23 Batch: Rs.78 LPA
  • Average Salary for 2021-23 Batch: Rs.29.06 LPA
  • Median Salary for 2021-23 Batch: Rs. 28 LPA        
  • Total Recruiters: 161
  • Top Recruiters: American Express, Axis Bank, Accenture, Amazon, ICICI Bank, Kearney, Deloitte, EY, Infosys, KPMG, McKinsey, PwC, Colgate-Palmolive, Godrej, HUL, ITC, Kimberly Clark, Mondelēz, P&G, Reckitt, Cognizant, Wipro, Apollo Tyres, Bajaj Auto, Castrol, General Electric, Philips, Pidilite, RIL, RPG, Vedanta, Cipla, GSK among others

NITIE-IIM Mumbai Placements 2022: Highlights

  • Batch Size: 407 Students
  • Highest Salary: Rs.49 LPA
  • Average Salary: Rs.25.40 LPA
  • Average Salary for Top 10% Batch: Rs.45.37 LPA
  • Median Salary: Rs.22 LPA
  • No. of PPOs: 157
  • Total Recruiters: 107
  • New Recruiters:  23
  • Top Recruiters:  Accenture, Amazon, American Express, Axis Bank, ICICI Bank, IDFC First Bank, Kotak Mahindra Bank, TATA AIG, Yes Bank, Kearney, Deloitte, EY, Infosys, KPMG, McKinsey, PwC, Colgate-Palmolive, Godrej, HUL, ITC, Kimberly Clark, Mondelēz, P&G, Reckitt, Cognizant, Wipro, Apollo Tyres, Bajaj Auto, Castrol, General Electric, Philips, Pidilite, Reliance Industries, RPG, Vedanta, Whirlpool, Cipla, Dr. Reddy’s, GSK, Sun Pharma, Nykaa, Zepto among others

11. IIM Mumbai Seats: NITIE as IIM Mumbai adds 660 seats for CAT 2023 test takers. This intake has increased from 550 seats. So far, 20 IIMs offered 5500+ seats which are available for MBA admission 2024. NITIE has announced the number of seats program wise on its website for admission 2024 as IIM Mumbai. Sharing the road map to increase the seats, the Chairman, Board of Governors, NITIE Mumbai said, "We have a 65-acre campus. We must double our capacity. We need more infrastructure and we must come up with ingenious ways of raising funds from industry and our alumni.”

Program wise seats at IIM Mumbai are as below:

MBA Program
Student Intake
Master of Business Administration (MBA)
MBA (Operations and Supply Chain Management) 
MBA (Sustainability Management)
Total Seats in IIM Mumbai MBA Programmes

12. IIM Mumbai Faculty
At present NITIE has 60 faculty members for 550 students and has faculty student ratio of 1:9 which is considered optimum. However, as IIM Mumbai, NITIE not only plans to increase the number of faculty but also plans to have international faculty at its campus.

Sharing the plan for faculty recruitment at IIM Mumbai, Prof Tiwari said, “We also plan to increase the number of faculty. With the kind of courses and various specialised verticals that we plan to offer, we will hire 20-25 more faculty members from India and overseas, in addition to the existing 60 faculty members. A new faculty block is going to be built on the campus to accommodate them. With the new brand of IIM, we hope to attract a good talent pool for faculty recruitment. In the case of international faculty, we plan to offer module-based attractive packages so that they can be on campus for that tenure.”

After getting its long due IIM, Mumbai, the financial capital of India, will offer more MBA seats to CAT aspirants. So far, there was no full fledged IIM in Mumbai although the State of Maharashtra has campuses of two IIMs - IIM Nagpur and IIM Indore (Mumbai campus). Government of India decided not to set up a new building or campus for IIM Mumbai, instead it has included one of the highly ranked and leading management institutes of India, NITIE as IIM Mumbai, to the present family of 20 IIMs.

NITIE Mumbai, carries a legacy of 60 years. With NITIE becoming the first full fledged IIM in Mumbai, the city has some of the best B-schools in India including SPJIMR, SJMSoM- IIT Bombay, JBIMS, NMIMS among others. Already ranked at #7 in the NIRF Rankings 2023 as NITIE Mumbai, IIM Mumbai has the capacity to get into top 5 B-schools in India. Many IIMs, IITs and other top MBA/PGDM colleges are ranked below NITIE.

21 IIMs in India: Legacy goes as Old as 60+ Years
IIMs in India have a legacy of more than 60 years. These IIMs offer wide range of management programs. Total seats in these IIMs are more than 5000. While IIM Calcutta is the 1st and oldest IIM, it is closely followed by IIM Ahmedabad which was set up next. With NITIE Mumbai becoming IIM Mumbai, the 21st IIM in India is launched

IIMs in India
Year of Establishment
IIM Calcutta
1961 (November)
IIM Ahmedabad
1961 (December)
IIM Bangalore
IIM Lucknow
IIM Kozhikode
IIM Indore
IIM Shillong
IIM Raipur
IIM Ranchi
IIM Rohtak
IIM Tiruchirappalli
IIM Udaipur
IIM Kashipur
IIM Amritsar
IIM Bodhgaya
IIM Nagpur
IIM Sirmaur
IIM Sambalpur
IIM Visakhapatnam
IIM Jammu
Launched in 1963, Renamed as IIM Mumbai in 2023

IIM Mumbai NITIE: 60 Years of Legacy as Leading B-school
National Institute of Industrial Engineering (NITIE) is registered as a society and was established by the Government of India in 1963 with the assistance of United Nations Development Programme (UNDP) through the International Labour Organization (ILO) to create skilled professionals. It is funded by Government of India. The National Institute of Industrial Engineering is registered as a society under the S Societies Registration Act, 1860

IIM Mumbai NITIE Leadership
NITIE Mumbai is led by its Director, Prof. Manoj Kumar Tiwari. He is serving NITIE since November 2019.  With FNAE, FNASc, FIIIE, FIISE, FIETI and many accolades to his credit, Prof Tiwari was a Professor with Higher Academic Grade (HAG) in the Department of Industrial and Systems Engineering at Indian Institute of Technology, Kharagpur and currently on lien for five years.

Prof Tiwari initiated several reforms at NITIE related to academics and research, especially actionable analysis and performance standards for faculty and staff. Under his leadership, the NITIE has improved NIRF Ranking to 7 from 29 for Management.

As a researcher, Prof Tiwari is working in the domain of Manufacturing System and Supply Chain Management. His research and teaching interests are in modeling the Manufacturing Processes and Operations analysis in Supply Chain Networks. He was visiting professor from 11th July 2006 to 11th September 2006 at Department of Industrial and Systems Engineering, University of Wisconsin-Madison, USA. He has also served as Professor at Department of Forge Technology, National Institute of Foundry and Forge Technology (NIFFT), Ranchi, India. 

NITIE as IIM Mumbai: Demand Pending since 2007
In 2007, HDFC Chairman Deepak Parekh and noted industrialist Anand Mahindra had suggested and urged the Government of India to change the name of NITIE as IIM Mumbai. Dr Manmohan Singh, the then Prime Minister, had also promised to look into it but nothing was done in this direction till 2021. However, on January 31, 2022, the Ministry of Education in the Modi Government, constituted a committee of experts  to assess the feasibility of including NITIE under IIM Act 2017. The Union Cabinet has finally approved the bill to amend IIM Act to include NITIE Mumbai as the 21st Indian Institute of Management (IIM).

The list of experts in the committee included Ashish Kumar Chauhan, MD & CEO, Bombay Stock Exchange & Chancellor University of Allahabad; Prof. Pawan Kumar Singh, Director, IIM Tiruchirappalli; Prof. Pramod Kumar Jain, Director, IIT BHU; Prof. Subhasis Choudhuri, Director, IIT Bombay; Pradeep Goyal, CMD, M/s Pradeep Metals.

IIM Mumbai Campus
IIM Mumbai (NITIE) is located in Powai, near Vihar Lake. The B-school has a sprawling campus of 67 acres with ultra modern facilities for the students and faculty. NITIE is a student-run institute that has around 30 Committees and Forums that the students can be a part of. Around a year, these committees organize various events and programs like Sansmaran – Alumni Meet, Avartan – Flagship Business fest of NITIE, Mahamandi, Arohan, Panel discussions, Leadership talks, Social Volunteering works among others

After the passing of IIM Act Amendment bill 2023 by Parliament on August 8, 2023 and getting President’s nod on August 11, 2023, NITIE has now become IIM Mumbai, the 21st IIM in India and  the first full fledged IIM in Mumbai which will award MBA degree instead of Post Graduate Diploma. On the occasion, Director NITIE, now IIM Mumbai, said, “We will now be awarding an MBA degree to our students” and confirmed, “The 2022-24 and 2023-25 batches which are already on campus, will graduate with an IIM certificate” and added, “The inclusion of NITIE in IIM Act, 2017 is the result of years of hard work, commitment and collaborative efforts of our faculty, administration officials, management members, staff, alumni and students. The acknowledgement underlines our sustained endeavours to achieve academic excellence in the domains of industrial engineering, engineering management and management sciences, supply chain. It will inspire us to further elevate our academic offerings with deep industry insights and experience.”

Stay tuned to MBAUniverse.com for more updates on IIM Mumbai