CAT is tougher than IPM. The ratio of students selected in IPM is 1:100 whereas in CAT it is more than 1:170 I think and the level of exam and interview is also tougher in CAT as compared to IPM.

If you are ready to face difficulty level and want a better rewarding career than you should wait for you graduation to be done and then take CAT.

If you think you will not be able to compete with the tough competition in CAT , then IPMAT is a easier yet a good option for you.

Hope this helps

Hey

I would suggest you to go for IPMAT for IIM Indore,It have many benefits like if you do 5 years integrated program from IIM Indore it will give you dual degree from IIM and also IPMAT and CAT level is different.The difficulty level of the exam is IPMAT is easier than exam of CAT.Also it is way better to directly crack IPMAT after 12th than to spend 3 years for graduation and then wasting your time for preparing for CAT.

Hope It Helps

Best of Luck!