After CAT results are declared, IIMs do not shortlist candidates solely on percentile. Each IIM follows a composite score based shortlisting process that includes CAT score, academic performance, work experience, and diversity factors.

Older IIMs like Ahmedabad, Bangalore, and Calcutta place significant emphasis on past academics, while newer IIMs tend to give more weight to CAT performance and interviews. This is why candidates with similar percentiles can receive very different shortlist outcomes.

Understanding this process helps aspirants manage expectations and plan interview preparation strategically rather than relying only on percentile comparisons.