In most ways, IIM Udaipur and IIM Kashipur are similar. In terms of infrastructure, Kashipur had the first permanent building. But now Udaipur has as well. In terms of faculty, there isn't much of a difference; both are world-class in this regard.
Now comes the most crucial fact placement. Both are nearly identical in this case. Placement in the BFSI sector is the same in both. Kashipur is only four hours from Delhi and is located in a better industrial hub, so opportunities in sales and marketing are better. However, placement in the IT, consulting, and analytic sectors is better in Udaipur.