After CAT results are declared, each IIM releases its own shortlisting criteria based on CAT sectional and overall percentiles, academic profile, work experience, and diversity factors. Shortlisted candidates are invited for further selection rounds, which may include Written Ability Test (WAT), Group Discussion (GD), and Personal Interview (PI). Final selection is based on a composite score that includes CAT performance, performance in WAT/GD/PI, academics, work experience, and other criteria as defined by the institute.