Yes, it is possible to crack the IPM exam at IIM Indore without maths in 12th grade. A non-math student can apply for IPM at IIM Indore. However, it can be difficult for a student without a Maths background to clear the paper as the question paper is loaded with Higher Maths - Questions from Class 11th and 12th Math section.
Past Year Paper analysis suggests that even the basic maths questions (till class 10th) are of higher difficulty level. So, it won't be easy, but it’s not impossible.
With hard work, proper preparation, and practice you can clear IPM. But the IPM course also has mathematics studies. It includes courses of pure maths, statistics, economics often driven by maths, etc.
IPM from IIM Rohtak can be an alternative to IPM from IIM Indore, as the paper is much easier and the difficulty level of Maths questions is also manageable.