Is IBS Pune good to pursue MBA/PGPM?

You should go for better alternatives if you have the options. The other campuses of IBS, i.e. Hyderabad, Mumbai, and Gurgaon are definitely better than the Pune campus. Hyderabad is the best among all the campuses of IBS. So, you can wait for the next list of IBS results and see if you can get a better campus. 

PGPM: 

If you have alternatives, it will be wise not to choose PGPM. Since it is a certificate course and not a degree. But there are provisions for getting a PGPM degree equivalent to MBA from the duly accredited campus. You should do a cross-check for it. 

Factors to consider for the PGPM (Post Graduate Programme in Management) program offered by IBS Pune.

So, if you have the opportunity, you should wait for a better campus or consider different colleges that can offer either PGDM or an MBA degree with greater ROI, infrastructure, and better placement.