At this site: QuickFacts
Kelley says they have 3,842 admitted to Kelley (2006 class), of which 1,050 are direct admits. (I'm sure that the 1,050 are included in the 3,842 number since at this site: Undergrad B-School Rankings: Interactive Table
they say that there were only 3,671 in the Kelley school in 2005).
Kelley does not estimate how many apply and are accepted--although my own statistics allows me to estimate that 1,660 apply and are accepted as business majors as freshmen--but of this total, only about 1,150 are eventual business graduates (based upon the Indiana University Common Data Set)--here's that site: http://www.indiana.edu/~urr/Common_d...DS0607_IUB.pdf
Thus, about 1,660 get in to Indiana University at Bloomington as business majors (as freshmen)--and 260 of these are direct admits. Then of the other 1,400; about 890 get into Kelley and about 510 don't. (but keep in mind that of that 510 that don't, about 280 are school dropouts, while 230 go into other majors--such as public administration, economics, or mathematics). The ones dropping out could be for academic reasons or for financial reasons or just because they were transfers to other schools--nobody knows for sure. Also, of the 230 going into other majors--it could be because they were rejected by Kelley--but it could also be just because they decided they preferred to major in something else than business.
I cannot tell you how many were accepted the first time around and how many were accepted only after reapplying (note that you must be invited by the Kelley school to reapply). I'm estimating once again: I would expect that out of the 890 accepted, probably only about 50 are accepted through this methodology--and probably only 60 or so are invited to reapply.