Yes, with a 54% in class 12th, you are eligible to pursue MBA in IIMs, FMS, and TAPMI. The eligibility criteria are more than 50% in 12th for most MBA exams. However, there are certain weights assigned to the 10th, 12th, and graduation marks in IIMs. Overall, your score should be more than the cutoff of that year. You need to build your profile and get an exceptional percentile in CAT. The same goes for FMS and TAPMI.