In collaboration with the Indian Institute of Management Calcutta and the Government of Jharkhand, the Indian Institute of Management Ranchi was founded in 2009 under the supervision of the Ministry of Education, Government of India. According to NIRF 2023, the Management institute has secured the 24th position in the ranking.

IIM Ranchi provides a range of Integrated and Postgraduate courses, such as MBA, PhD, Executive PhD, Post-Doctoral Fellowship in Management, Emeritus Fellowship in Management, and Executive programmes.

IIM Ranchi is renowned for its prestigious MBA and IPM programs, with admissions done on the based on CAT and IPMAT scores. The cut-off percentile for IIM Ranchi stands at an impressive 92 percentile overall. The MBA fees at IIM Ranchi amount to INR 17.5 lakhs, while the average package for the 2023 batch reached INR 17.3 LPA. Additionally, the highest package offered at IIM Ranchi for the same batch reached an impressive INR 67 LPA.