To make an informed decision, you need to analyze your future prospects. Consider where you see yourself two years from now, or, if money is a primary concern for you, estimate how much you will earn in two years.
The average package offered by IBS Hyderabad is 6 lakhs. However, if you have a couple of years of experience and are in the top 10th percentile of your batch, there is a good chance you could earn 7-8 lakhs. In this case, enrolling in IBS Hyderabad would be a viable option if you don't see yourself earning a similar salary within two years.
Furthermore, you should evaluate your ability to gain admission to a better business school such as an IIM. If you have the potential to do so, it would be a wise decision to invest your efforts into pursuing this opportunity. However, if you really believe that you are not in that league, enrolling in IBS Hyderabad would still be a viable option, as discussed in the second paragraph.