Absolutely, it is true. It has been seen that many students who have average academic scores are selected in IIM Indore for the IPM course. Basically, the selection is based on the criteria that include aptitude test score, personal interview, and written ability test for which the scores required are 50 percent, 35 percent, and 15 percent respectively.
The panelists in the interview can ask various questions related to the low academic score but if you can tackle the situation with some of the respectful reasons then there is a high possibility for your selection.
Lastly, we can say that despite your low academic score you can manage to get into IIM Indore for the IPM course by giving your best into the personal interview and written ability test.