GMAT

Yes, you would need GMAT definitely. GMAT is a written exam and IELTS is for communication and listening skills which is must for getting admission into any MBA college.

Doing MBA with proficiency in foreign language has added advantage, so you can go for it and if you want to do it abroad then GMAT is the best option for you.

It would be better if you join IELTS coaching because you will get to learn the exact pattern and have a good experience in writing. There will be teachers who will guide you better based on your performance. If your financial ability is good then go for it.

There is no upper cap. Depending on the pool of applicants, all or none can get in.

Apologies Vivek, this portal does not provide sample or previous year question papers of any entrance test. Please refer to the XIMB/XUB website for details. You may however refer to this pdf
http://www.xub.edu.in/pdf/x-gmat-2016.pdf

Hi Indu,
You can appear for the GMAT but if you want to apply for MBA programs abroad you must have work experience. Countries like US, Canada require 4-year undergraduate degree. Select the country first, do some more research on requirements, ask more questions and then decide.

The 2016 mean combined GMAT score is a 547.35. Keep in mind that this mean score is quite low, and that the top 10 business schools, like Stanford, Harvard, and Yale, have an average GMAT score of 720 which is in the 94th percentile. We can also break the mean scores down by section:
Integrated Reasoning: 4.33
Quantitative Section: 38.03
Verbal Section: 27.04
Analytical Writing Assessment: 4.34

IIM Indore does not consider GMAT scores for PGP admissions. You'll have to take CAT.

CAT, MAT and GMAT does not have predefined syllabus. CAT tests candidates general aptitude including verbal ability (English), quantitative ability (mathematics), logical reasoning and data interpretation skills. MAT has five sections such as English language comprehension, mathematical skills, data analysis and sufficiency, intelligence and critical reasoning and Indian and global environment. The GMAT exam consists of four separately timed sections such as analytical writing assessment essay, integrated reasoning section, quantitative section and verbal section

Hi Rishabh,
You may refer to The Official GMAT guide and series by Kaplan and Manhattan. For IELTS, you can check Cambridge IELTS 10 and the official guide. You will also find a number of useful downloadable material on their websites.