Which coaching is better IMS or TIME for IPM IIM Indore?

I will seriously not recommend you to go for TIME. The first choice is PRATHAM if not then IMS.

The IIM paper is always tough and covers maximum mathematical questions. They are both difficult as well as time consuming.

Questions are never repeated in this paper. But if the study material and faculty is the same, what is actually different? The approach towards the exam and your attitude towards it.

Having a healthy approach is the key to crack this paper. You should not aim to excel, rather try to attain scores better than others.