The classes at Shillong IIM, the seventh in the country and named after late Prime Minister Rajiv Gandhi, will begin in end-June.
The institute can accommodate 60 students, including those belonging to the Scheduled Castes and Scheduled Tribes, according to the new reservation policy.
The officer on special duty dealing with Shillong IIM, V. Anand, told The Telegraph that the temporary campus at Nongthymmai here could accommodate 60 students.
The proposed permanent campus will be located at Mawdiangdiang, on the outskirts of Shillong.
The state government has handed over 80 acres of land free of cost for the permanent building at Mawdiangdiang.
Anand said there would be 22.5 per cent reservation for Scheduled Caste and Scheduled Tribe students, while OBCs would get 27 per cent, according to the Supreme Court ruling. Disabled students would get three per cent reservation.
The interviews of the selected students will be conducted towards the end of this month. Stating that funds would not be a problem for the Shillong IIM, Anand said the necessary infrastructure have been provided at the temporary campus.
The Centre has released Rs 10 crore for the institute and more funds would be released in the near future, he added.
The institute will conduct courses with post-graduate diploma in business management, fellowship programme in management, management development programmes, tourism and hospitality management, tele-services and telemedicine, information systems and technology and subjects of local relevance such as tourism, horticulture and hydel power.