If you are waitlisted at 20 in the first waitlist, there is a fair chance that you can convert it in the upcoming waitlists. As the waitlist of new and babyIIMs moves, the speed at which the waitlist of colleges that comes below IIM in rankings, like TAPMI, is pretty faster, so it is likely that you will get a call from TAPMI. The waitlist for TAPMI easily moves from 400 - 600, so considering the waitlist of 20, there is a high chance that you will get a call from the college.