Yes if you are eligible you will be getting notification that FPM application for this IIM is open and you have to reapply for it so that your application can be further evaluated.

But remember one thing FPM is like doing a PHD. It is  a 5 year course and there is no placement for any FPM students irrespective of in which IIM your are studying. But you won't need to pay any fees for doing FPM on the reverse you will be paid stipend every month which is fixed for all IIMs. This monthly stipend increases after first two year.

A very important thing you need to remember after FPM most of the students go as a professor only in some IIM or university to teach. At max you get a job as a freelancer consultant from some specific company in the domian in which you would have done specialization.

Mostly students who have even done their post graduation like M-Tech goes for this course. Very few students opt for FMS or get selected for this programme. So before applying make sure you think about it n detail.

All the best!!

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