In India, IIM Lucknow is worth far more than ISB, particularly in MNCs and finance/marketing jobs.
The talk of a consulting and network-building pedigree revolves more around their flagship PGPX program and their tentacles in Microsoft and Cisco, both of which recognize the limited role of an MBA in their industry and provide well-defined jumps to ISB graduates back on campus. In the last 2-3 years, IIM Lucknow has done fairly well in global placements, and the sky is the limit for the right student.
It is clear that your decision should be motivated by your prospects of performance at either campus and should be carefully considered.
It is true that those who can balance pressures and perform consistently have an advantage when it comes to placements on campus. Also, mobility in the industry should matter without the help of your b-school label and should be about your performance on the job in making friends. Students from each campus meet everyone on an equal footing in the industry.
Only if you accepted a different field in your campus placement or were assigned a backroom job will you face unequal pressure, as neither pedigree allows you much mobility.