What is the admissions procedure for IIM after CAT results?

Every IIMS and other management colleges make a shortlist based on the percentile after CAT result is declared. With percentile, IIMs also consider other factors like academics, category, gender factor, diversity, etc. The list is made for the second round i.e. GD/PI or WAT/PI. 

GD/WAT will have a generic topic. There can be a topic from current affairs. PI is taken by some of the faculty and alumni of the institute. In institutes like FMS, there is an extempore after PI. 

After these rounds, a final shortlist is made with weightage given to GD/PI or WAT/PI performance and CAT percentile. Individual IIMs also have some additional factors. The offer letters are then sent out to top candidates in each category up to the maximum number of seats. The rest candidates are waitlisted. As students choose admissions, the waitlist continues to change.