<p>YEs , Indian Institute of Management has an admit rate of less than 1% and thts because 1,20,000 people apply there every yr. the whole of india applies there. However since the application fees is very very very less Most ppl appear for their enterance test with little or no preparation. They apply just for the heck of it, for fun, and hence the no. of applicants goes up. but if u consider only those applicants who are serious about MBA and prepare for the test with a clear motive of gettings into Indian Institute of Management, the percentage of acceptance is remarkably higher.</p>