The IPM program at IIM Indore primarily focuses on students who complete their higher secondary. The program is similar to pursuing a 3 year BBA course, or graduating in Economics and moving on to MBA.
Here are some points you might want to take into account before deciding on IPM.
However, if you still go on to choose IIM, then the brand value it offers, can undeniably be beneficial over several other engineering students because of the diversity rule of IIMs. So, for the IPM program, if you are getting it. Otherwise, you can choose to do an MBA after your graduation too.