Hi,

Instead of me telling this as I never studied at IIMA, I found a really good answer online which would summarise the whole life at IIMA by an IIMA alumnus.

"What is it like to study at IIMA...well to say the least, it is a life changing experience. The first year at IIMA is tough, it will probably unlike anything you would have faced before. To describe a typical day, this is what it looks like:
We had 3 lectures everyday starting 8:45 am every morning running till 1:10 pm. The professors are very strict about in-class discipline and being on time. The doors close at 8:45 am sharp, and even if you are late by half a minute you aren't allowed in. Invariably in the first year, we used to have surprise quizzes twice/thrice a week. The quiz notice was put right outside the mess, and if it was one of those lucky days it meant you pretty much skipped your lunch. Head straight to the dorms, to prepare for the quiz at 2:30 pm. After the quiz, get back to your dorms around 3:30pm and crash..get a few hours of sleep. Get up around 5:30 pm and start preparing for next day's classes. IIMA has a complete case-based curriculum. We as students were required to study the theory on our own + solve the class. A good preparation for a lecture required about 2.5-3hrs...so in all about 8-9 hrs of study required for the next day's classes. On top of that we had group submissions & assignments which took up another couple of hours. So on an average day you would probably be up till 4-4:30 in the morning. Sounds daunting, and a lot of us used to flip at the thought of it before we entered IIMA..but you get so used to it..that you start enjoying it.
Coming to the professors at IIMA, without a doubt the smartest people I have ever met. Each one of the professors I had were so passionate about the courses they taught...only one word comes to my mind when I think of professors like Prof Ajay Pandey/Prof Seb Morris/Prof JR Varma...they were gods! But more than anything, what impacts you is the company of the people you are with. You batchmates and peers are the sharpest and brightest people you would come across...it is such a humbling experience.
How IIMA changes you as a person - well, the answer to question is subjective and it depends from person to person. As for me, IIMA taught me the discipline, business ethics, value of hard work, humility, and a never ever EVER say die attitude. IIMA has endless amounts of knowledge and opportunities to offer, depends on how much you are able to take out of it. Some people hated the cut throat competition, some people relished it. But more than anything else, IIMA builds character. At the end of two years you may come out on the bottom or the top, it doesn't matter. What matters is you will know what you're made of. And all these lessons will be apparent and visible in whatever you do, and this is what will make you stand apart..compared to grads from IIM B/C/D/XYZ or whatever.
It has been almost 3 years since I graduated and not a day goes by when I don't think about the time I spent at IIMA...how privileged I was to be a part of the legacy and how I try to live up to the name every single day. "

Hope it helps.