The results are trickling in, and with them comes the inevitable rollercoaster of emotions. While many are celebrating their converts, a vast majority of aspirants are currently in the "limbo phase" refreshing their emails and portals, tracking waitlist numbers, and weighing their backup options.

We have officially moved past the initial result announcements for IIM Ahmedabad, Bangalore, Calcutta, Shillong, and Udaipur. As expected, the "older" IIMs are seeing relatively static lists, as the conversion rates are high and seat withdrawals are minimal.

However, the real action is just beginning for the mid-tier and newer IIMs. With IIM Udaipur now operating independently (outside the CAP process), there is a significant amount of chatter regarding how this will impact movement especially as candidates start juggling multiple offers from other top-tier B-schools.

Key takeaway for those waitlisted: Stay patient. The movement is cyclical. As candidates finalize their seats at "dream" institutes, the cascading effect will trigger vacancies further down the chain, which typically peaks between late May and June.