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ITM University Gwalior MBA Courses & Fees 2025: Eligibility, Admissions, Placements, Scholarships
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- Private University
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ITM University Gwalior MBA/PGDMWhat's new?
The CUET PG 2026 exam schedule has been announced for the MBA/PGDM course. The exam will be conducted between Mar 6 and Mar 27, 2026.
ITM University Gwalior MBA Eligibility & Highlights 2025
ITM University Gwalior MBA is a management course that lasts for a duration of two years. The university offers three specialisations under this programme, including Finance, HR, and Marketing. Students get to opt for dual specialisations. Other than this, the university also has various specialised MBA courses. Check out the list below to know all the specialised MBA courses offered:
- MBA in Supply Chain & Logistics Management jointly offered with Safexpress
- MBA in Financial Markets jointly offered with NSE
- MBA (Agri Business)
- MBA in Pharmaceutical Sales and Marketing (PSM)
- MBA in Hospital Management
ITM University Gwalior MBA admissions are entrance-based. Students who wish to get admission must have taken at least one of the following accepted entrance exams:
- CAT
- CMAT
- CUET PG
- XAT
- ATMS
- ITM NEST
Other than this, admissions are only possible when students fulfil the eligibility criteria. Thus, before applying, students must check the following eligibility criteria:
|
Particulars |
Statistics |
|---|---|
|
Eligibility |
Candidates must have completed a UG degree with at least 50% marks |
|
Selection |
Entrance Test Score + GD + PI + Acedemic Record |
Download: ITM_University_Brochure
Students can also check out the list of ITM University courses to explore other course options. Moreover, the table below shows the key highlights for MBA at ITM University, including eligibility, tuition fees, and more:
Commonly asked questions On Highlights
The MBA courses available at ITM University Gwalior run for a duration of two years. During this course duration, students study various subjects related to Management, including Finance, Marketing, Operations, etc. For admission of candidates, the university accepts various national-level entrance tests. To apply, visit the official website of the university.
Yes, ITM University Gwalior offers specialised MBA courses. The below list shows all the specialised MBA courses offered at the university:
- MBA in Supply Chain & Logistics Management jointly offered with Safexpress
- MBA in Financial Markets jointly offered with NSE
- MBA (Agri Business)
- MBA in Pharmaceutical Sales and Marketing (PSM)
- MBA in Hospital Management
The duration for each MBA course is two years. Further, the mode of education is full-time.
Yes, MBA is available at ITM University Gwalior. This pogramme is offered with various specialisations, including Supply Chain & Logistics Management Finance, HR, Marketing, and more. Students willing to enrol can check below to know the key highlights:
- Duration: Two years
- Eligibility: UG degree with at least 50% marks
- Total Fees: INR 2.45 Lacs - INR 6.17 lakh
Note: The above information is taken from official sources. However, it is subject to change.
The key highlights of ITM University Gwalior placements 2024 are presented below:
Particulars | Placement Statistics (2024) |
|---|---|
Highest package | INR 45 LPA |
Average package | INR 6 LPA |
Placement rate | 95% |
Students placed (in last three years) | 3,304 |
ITM University GwaliorVideo stories
- Placements
- Admission Process
ITM University Gwalior MBA/PGDMPopular courses
Commonly asked questions On All Courses
The latest cutoff score for admission to the MBA programme at ITM University, Raipur was in the range of 600-650 on the CAT (Common Admission Test) exam.
Not only that the university also considers the applicant's performance in their undergraduate studies, generally requiring a minimum of 55% marks in the bachelor's degree.
The university also conducts its own entrance exam called the ITM University Management Aptitude Test (IUMAT), and the students who perform well in this exam can also be considered for admission to the MBA program.
Once the ITM University seat allotment process is completed, students are required to submit the original documents at the admissions office. Such candidates are required to bring along the following documents:
- Class 10 marksheet
- Class 12 marksheet
- Transfer certificate
- Category certificate (if applicable)
- Identity proof
- Migration certificate
- Income certificate (applicable for EWS candidates)
Pursuing MBA at ITM university is not considered to be compartively expensive as the cost matches the quality they provide . The Track of placement rate and education quality does justifies the fees paid. The make the college accessible as the provide various finacial aid and college loan system. It provides a well-defined curriculum, course structure and offers a practical learning environment to the students. ITMUR organizes regular training sessions, workshops, industry visits, live interaction with the experts etc. to give an overall learning experience to the students.
ITM University, Gwalior MBA in Agri Business is a 2 years PG degree. Candidates must secure a minimum aggregate of 60% in graduation, achieved from a recognised university to seek admission at ITM University, Gwalior for MBA in Agri Business. The eligibility criteria may require qualification of an entrance exam, for which, candidates must visit the official website or enquire from the University, offline.
ITM University Gwalior MBA/PGDMITM University Gwalior MBA Fees 2025
ITM University MBA courses, students are needed to pay fees as asked by institute. The total fees has different factors, like hostel fees, tuition fees, examination fees, etc. As per official sources, the tuition fees for MBA goes from INR 3 lakh to INR 5.15 lakh.
It is important to note that failure to pay fees can lead to cancellation of admission. the fee given above is as per official sources. However, it is subject to change. Students who wish to know more ITM University fee structure for MBA courses can check out the table below:
| Fee components | Amount (for 2 years) |
|---|---|
₹ 2.4 L - 7 L | |
₹ 5 K - 6 K | |
₹ 2.45 L - 7.06 L |
These are estimated fees information. Actual values may differ.
Commonly asked questions On MBA/PGDM Fees
Yes, ITM University requires students to pay an admission fee of INR 5,000. This fee is required to be paid only once at the time of confirmation of admission. Students get both online and offline modes for payment. Moreover, students must note that this fee is as per official sources. However, it is subject to change. Hence, it is indicative.
MBA is one of the popular courses of ITM University Raipur. Talking about placements, the the highest and average package offered during ITM University placements 2023 stood at INR 12 LPA and INR 4 LPA, respectively. Further, the participating recruiters offered 150 job offers to 133 students of the batch 2023.
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ITM University Gwalior MBA Admission Dates 2025
ITM University Gwalior MBA admission dates 2025 encompass events related to the accepted entrance exams- CAT, CMAT, and ITM NEST, and others. Therefore, students are advised to watch out for the dates related to the accepted exams. Other than this, students must also watch out for dates related to the application process. Once the forms are out, students must apply before the deadline. Check out the table below to know important CMAT dates, XAT dates, ITM NEST dates, and more:
| Dates | Upcoming Events |
|---|---|
3 Mar '26 - 10 Mar '26 | CUET PG Admit Card (March 6 to 10)Ongoing |
26 Feb '26 - 27 Mar '26 | CUET PG 2026 Advance City Intimation SlipOngoing |
6 Mar '26 - 27 Mar '26 | CUET PG 2026 Exam Date |
24 Feb '26 - 21 Apr '26 | ATMA registration 2026 (May)Ongoing |
22 Apr '26 | ATMA 2026 Last date of application (May) |
| Dates | Past Events |
|---|---|
Feb '26 | CUET PG 2026 Admit CardTentative |
28 Feb '26 | ATMA 2026 Result Declaration |
Commonly asked questions On Admissions
ITM University has opened the application portal for MBA courses. Students interested in taking admission can visit the university's official website to register and apply. The application form inquires about basic details, such as academic record, contact details, address, etc. Moreover, the university has not yet released the last date to apply. Thus, students are advised to apply timely.
Yes, the ITM University admission portal is open. Students seeking admission to the 2025 batch can now apply for their preferred course. Moreover, to get a seat, students who satisfy the eligibility requirements can go to the official website of the university and submit an application form for the preferred course. Admissions are granted based on the ITM NEST scores.
The cost of pursuing an MBA at ITM University, Raipur varies depending on the specific programme chosen:
MBA/PGDM Program: The MBA/PGDM programme at ITM University, Raipur is priced at Rs 4.45 Lakhs per year. Therefore, for the full two-year duration of the program, the total cost would be Rs 8.90 Lakhs.
MBA iConnect Program: The MBA iConnect programme at ITM University, Raipur is priced slightly higher, at Rs 5.45 Lakhs per year. Thus, the total cost for the two-year duration would amount to Rs 10.90 Lakhs.
Bachelor of Technology (B.Tech) Master of Technology (M.Tech) Bachelor of Science (B.Sc) Master of Science (M.Sc) Bachelor of Computer Applications (BCA) Master of Computer Applications (MCA) Bachelor of Business Administration (BBA) Master of Business Administration (MBA) Bachelor of Commerce (B.Com) Master of Commerce (M.Com) Bachelor of Arts (B.A) Master of Arts (M.A) Bachelor of Education (B.Ed) Master of Education (M.Ed) Bachelor of Pharmacy (B.Pharm) Master of Pharmacy (M.Pharm) Doctor of Philosophy (Ph.D.) Integrated Bachelor-Master Programs (Dual Degree Programs) In addition you can contact the college directly for further information
ITM University Gwalior MBA Admission 2025: How to Apply?
The ITM University Gwalior MBA course admission process begins release of the application forms. To be able to apply, students must fulfill the eligibility criteria and have a valid score in any one of the entrance exams - CAT, CMAT, ITM NEST, ATMA, etc. Those who fulfill these criteria and are willing to take admission must fill out an application form to be considered for ITM University Gwalior admissions.
Next, the admission committee reviews all the applications and shortlists students for further steps. For further evaluation, the admission committee conducts GD and PI rounds. Students keen on knowing the next steps can check the guide below:
STEP 1: ITM University Gwalior MBA Application Process 2025
Listed below are the complete steps to be followed to apply for the preferred BBA course:
Step 1.1: Visit the official admission portal of the university at https://admission.itmuniversity.ac.in/student/pupil/login.
Step 1.2 Fill out the registration form appearing on the screen.
Step 1.3: Log in to the new student account and fill out the application form.
Step 1.4: Complete all the required sections and upload scanned documents.
Step 1.5: Pay the ITM University BBA application fees 2025.
Step 1.6: Click on the submit button.
Also, learn how to fill out the ITM NEST application form.
STEP 2: Shortlisting Process
After the application process, the university's admissions committee releases a rank list based on the applicants' scores in any of the accepted exam. The university also considers the following facts while shortlisting students:
- Past academic achievements
- Participation in sports and extracurricular activities
- Work experience (if any)
STEP 3: GD & PI
The third stage of the admission process begins with the GD rounds, all shortlisted students are required to take part in this round. Through these rounds, the panel determines the suitability of the candidate for the programme. Those who wish to prepare for this round can check out the links below:
STEP 4: Admission Confirmation
At last, students with admission offers are required to report to the university for confirmation of their admission. To confirm, they must get their documents verified and pay the fee prescribed by the university. As per the fee structure, the total tuition ranges from INR 2.4 lakh to INR 4 lakh.
Note: The above-mentioned fee is as per the official sources. However, it is indicative and subject to change.
Commonly asked questions On Application Process
Yes, ITM University Gwalior does conduct an entrance test for admission to its MBA course. The test is called ITM Nest. Students who wish to apply for it can visit the university's official website. Moreover, students can also apply via valid national and state-level examination scores. Some of the accepted entrance exams are CAT, CMAT, ATMA, and XAT.
Once the ITM University Gwalior application window is closed, the university begins with the selection process. For allocation of MBA seats, the university first shortlists students based on entrance test scores and academic background. After that, students are required to take part in GD & PI rounds. Once all rounds are done, the university extends offer letters to students who have performed well in all the rounds.
The first stage of MBA admissions at ITM University Gwalior is application submission. Find below the steps to apply for the MBA programme:
1. Visit the official website of the university.
2. Click on the 'Apply Now' option under the 'Admissions' tab.
3. Fill in the details to register and generate login credentials.
4. Log in to fill out the application form.
5. Upload the documents and pay the application fees.
6. Submit the form.
The candidates who get the offer to enroll into PG courses must report to the ITM University's campus and present original as well as self-attested photocopies of documents. Such candidates are required to bring along the following documents:
- Class 10 Marksheet
- Class 12 Marksheet
- Transfer Certificate
- UG Marksheets
- UG degree
- Accepted exam's scorecard
- Date of Birth Certificate
- Income Certificate for SC/ST/OBC students
- Migration Certificate
- Passport-size photographs
ITM University Gwalior MBA/PGDMITM University Gwalior MBA Seats 2025
ITM University MBA seats of ITM University are allocated based on multiple factors, including entrance test score, performance in GD & PI rounds, past academic record and more. Moreover, admissions are only possible when students fulfil the minimum eligibility criteria. To get a seat, interested candidates must visit the official website of the university and apply for the preferred course. Also, check out the table below to know the total MBA seat intake at ITM University Gwalior:
| Institutes | Seats |
|---|---|
| School of Engineering and Technology, ITM University, Gwalior | 300 |
Commonly asked questions On Seats
ITM University Gwalior offers a total of 300 seats for the MBA programme. This implies that only 300 students can take admission into the course in a single academic year. Thus, students are advised to apply for the course timely. Moreover, getting a seat also depends on students' performance in the entrance test and GDPI rounds.
In order to get an MBA seat at ITM University Gwalior, students must apply for a preferred MBA course at the university's official website. Out of all applicants, students are shortlisted based on marks obtained in the accepted entrance exams. These shortlisted students are required to participate in the subsequent selection rounds. These rounds consist of GD and PI processes.
ITM University, Gwalior offers more than 50 courses at undergraduate, postgraduate, Diploma and PhD levels through its various schools such as the School of Engineering and Technology, Computer Applications, Management, Education, Art & Design, Science, Physical Education and Law. The basic qualification required for undergraduate programmes at ITM University, Gwalior is to have a valid score in class 12 with relevant subjects from a recognised board. Students seeking admission to postgraduate courses at ITM University, Gwalior are required to have a bachelor's degree in a relevant stream from a recognised college/university. Furthermore, admissions to some courses are done on the university-specific entrance exams as well.
ITM University MBA/PGDM Placements 2025
The latest MBA/PGDM placement statistics of ITM University will be updated as and when it is released. To check out the overall placement highlights of ITM University aspirants can click here.
| PG 2 years | 2021-22 | 2022-23 | 2023-24 |
|---|---|---|---|
| Median salary | 5.5 LPA | 5.75 LPA | 6 LPA |
| % Students Placed | 88% | 95% | 92% |
| Students placed | 56 | 93 | 121 |
| % Passing Students | 92% | 100% | 92% |
| Students admitted | 64 | 98 | 131 |
| Students opted for higher studies | 3 | 5 | - |
| Students graduated | 59 | 98 | 121 |
Source : NIRF Report 2025
Insights on Placements
Based on 118 Student Responses
Internships and industry projects
Students can work with faculty on research projects
Internships and industry projects
Students get substantial industry exposure
Employment opportunities
Higher in core jobs
Higher studies preferences
Majority opted in India
Placement support
Students are expected to reach out to companies themselves
Placement support
Organized & proactive placement process
Alumni network
Strong alumni network that help with placement opportunities
Entrepreneurship cell
Very Active and resourceful, college is also involved
Overall feeling of students
Love being in college
Commonly asked questions On Placements
In the past three years, more than 3,000 students have been placed during ITM University Gwalior placements. Further, the overall placement rate recorded in 2024 was 95%.
The list of top recruiters during ITM University Gwalior placements in recent past is presented below:
ITM University Gwalior Top Recruiters | |
|---|---|
Infosys | Quality Austria |
Wipro | CapitalVia |
Visa Steels Ltd | Axis Bank |
Ceasfire Industries Ltd | Mphasis |
Interactive Manpower Solutions | InterGlobe Technologies |
The overall average package offered during ITM University Gwalior placements 2024 was INR 6 LPA.
Yes, ITM University Gwalior offers good placements to its students. The key highlights of ITM University Gwalior placements 2024 are presented below:
Particulars | Placement Statistics (2024) |
|---|---|
the highest package | INR 45 LPA |
Average package | INR 6 LPA |
Placement rate | 95% |
Students placed (in last three years) | 3,304 |
ITM University Gwalior MBA vs Other Similar Universities
ITM University Gwalior, Amity University Gwalior, and SAGE University are some of the good university options to pursue an MBA. Before finalising any university, students must compare the available options based on important factors, such as fees and ratings. Presented below is a comparison of the ITM University Gwalior MBA programme with other top universities based on fees and Shiksha rating:
|
University |
Course Fees |
Shiksha Rating |
|---|---|---|
|
MBA at ITM University Gwalior |
INR 2.4 lakh - INR 4 lakh |
4.1/ 5 |
|
INR 7.44 lakh |
4.5/5 |
|
|
INR 8 lakh |
4.0/5 |
Note: The above-mentioned information is as per official sources. However, it is subject to change. Hence, it is indicative.
Compare the ITM University Gwalior MBA course with other universities.
Also, check out the list of Top MBA Colleges in India 2025.
Compare MBA/PGDM at ITM University Gwalior with other similar colleges
| College | Median Salary | Total Tuition Fees | Ranking |
|---|---|---|---|
| -/- | ₹ 7 L | -/- | |
| -/- | ₹ 4.8 L - 8 L | #246 Business Today, 2024 | |
| -/- | ₹ 55 K - 1.1 L | -/- | |
| -/- | ₹ 1.5 L | #262 Business Today, 2024 | |
| -/- | ₹ 55 K | -/- | |
| -/- | ₹ 44 K | -/- |
Compare
Commonly asked questions On Comparisons
Both ITM University Gwalior and Amity University Gwalior are good options to pursue an MBA. However, in terms of affordability, ITM University Gwalior is more affordable since the tuition fees to pursue an MBA at ITM University Gwalior range from INR 2.4 Lacs to INR 4 lakh, and the tuition fee to pursue an MBA at Amity University Gwalior is INR 7.44 lakh.
Note: The fee mentioned above is as per the official sources. However, it is indicative and subject to change.
In order to make a choice between MBA courses offered by ITM University Gwalior and SAGE University, students can compare the options based on significant factors such as fees and Shiksha rating. To help, presented below is a comparison between the MBA courses at ITM University Gwalior and SAGE University based on fees and ratings:
MBA Offering University | Course Fees | Shiksha Rating |
|---|---|---|
ITM University Gwalior | INR 2.4 Lacs - INR 4 lakh | 4.1/5 |
INR 8 lakh | 4.0/5 |
Note: The abovementioned information is as per official sources. However, it is subject to change. Hence, it is indicative.
ITM University, Gwalior is classified as a Tier 2 private university in India. Established in 1997, it gives a various variety of courses spanning sciences, engineering, control, excellent arts, social sciences, arts, and nursing. While it is able to no longer be most of the pinnacle-tier institutions nationally, it nevertheless gives first-rate training and possibilities for its college students. The college's multidisciplinary approach fosters holistic learning and ability development, getting ready graduates for various profession paths.
ITM University Gwalior MBA/PGDMExplore Other Courses
(1) 1 person found this helpfulITM University Gwalior MBA 2025 FAQs
ITM University Gwalior follows a thorough screening process for MBA admissions to ensure that candidates' suitability matches with the course. For the shortlisting process, applicants are evaluated based on the marks obtained in the accepted exam and entrance test. After the shortlisting process, the shortlisted students are invited for a GD & PI round at the university. GD qualifiers move to the PI round. In this round, a panel of interviewers tests students' knowledge and awareness about the business world. Th euniversity also considers other factors, such as participation in extracurricular activities, work experience (if any), etc.
Yes, students who have completed the ITM University Gwalior MBA programme can seek out job opportunities offered by the government sector. An effective and well-structured MBA course helps develop essential skills such as problem-solving, strategic planning, and more. The below table contains some of the key government job roles offered to MBA graduates:
Government Job Profiles | |
|---|---|
Reserve Bank of India (RBI) Grade B Officer | Indian Railways Management Service (IRMS) |
Central Excise and Customs Inspector (C&CE) | Security and Exchange Board of India (SEBI) Grade A Officer |
Probationary Officer in Banks | Quality Assurance Manager |
Yes, ITM University Gwalior does provide a refund in case of withdrawal of admission. However, the refund is subject to the fulfilment of certain conditions. Tabulated below are the guidelines to be followed as per the fee refund policy of the university:
Percentage of refund of aggregate fees | Point of time when notice of withdrawal of admission is served to the University as per the UGC regulations |
|---|---|
100% | 15 days or more before the formally notified last date of admission. |
90% | Less than 15 days before the formally notified last date of admission. |
80% | 15 days or less after the formally notified last date of admission. |
50% | 30 days or less but more than 15 days after being formally notified the last date of admission |
No refund | More than 30 days after formally notified the last date of admission |
The highest package offered during ITM University Gwalior placements 2024 is presented below:
Particulars | Placement Statistics (2024) |
|---|---|
the highest package | INR 45 LPA |
Yes, ITM University Gwalior is good in terms of placements. The key highlights of ITM University Gwalior placements 2024 are presented below:
Particulars | Placement Statistics (2024) |
|---|---|
the highest package | INR 45 LPA |
Average package | INR 6 LPA |
Placement rate | 95% |
Students placed (in last three years) | 3,304 |
As per the official website, the highest package offered to the 2024 batch was INR 45 LPA. Check the table below to know the ITM University Gwalior highest package 2024:
| Particulars | Placement Statistics (2024) |
|---|---|
| Highest package | INR 45 LPA |
NOTE: The above salary is fetched from the official website, however, the campus is not mentioned. Considering it for all the ITM University campuses.
According to unofficial sources, the ITM University alumni are primarily working in the Engineering sector with a 36% share. For a detailed sector-wise distribution of alumni refer to the below pie chart:
The fees for the B.Tech Mechanical Engineering path at ITM University, Gwalior, is INR 95,000 in keeping with year. This amount covers tuition fees, library prices, laboratory expenses, and different miscellaneous fees. It is vital to observe that fees can also vary slightly from yr to year because of inflation and other factors. College students may incur additional costs for observe substances, lodging, and other residing charges. In addition you can check the official website.
Candidates who aspire to get an ITM University BPharma seat can follow the below-mentioned steps:
1. Begin with an eligibility check.
2. If eligible, visit the university's official admission portal and apply for the course.
3. Appear for ITM NEST.
4. Participate in the seat allocation process.
5. If allocated a seat, report to the university for document verification and payment of fees.
A total of 100 students can take admission into the ITM University Gwalior BPharma course. Moreover, it is important to note that this seat intake is as per official sources. However, it is subject to change. Moreover, the allocation of these seats is done based on fulfilment of the eligibility criteria.
The ITM University Gwalior BPharma programme runs for a course duration of four years. As part of the course curriculum, candidates enrolled in the course get to study various subjects related to different facets of Pharmacy. Other than this, students must note that the mode of education is full-time. The applications for the course can be submitted via the university's official website.
ITM University, Gwalior offers various specialisations in BTech, MBA, BSc, UG Diploma, Certificate, MSc, BPT, BMLT etc. The University offers these programmes with the tuition fees ranging between INR 16 K- INR 8.1 Lakh. The ITM University, Gwalior fee structure may vary depending on the level and duration of the programme. Apart from the tuition fees, all the programmes entail one-time fees, which may vary course to course.
ITM University Gwalior has not released the 2023 placement statistics yet. However, the NIRF report 2023 is out. According to the report, 124 BTech, 56 MBA, and 39 BPharma students were placed during ITM University Gwalior placements 2022. Further, the median package offered to BTech and BPharma students stood at INR 5.5 LPA and INR 5.2 LPA, respectively. The median package offered to MBA course during placemnts 2022 was INR 5.5 LPA.
The median package offered to MBA students during 2021 placements increased by almost 11% when compared with 2020
A massive growth of almost 83% was recorded in the number of BPharma students placed in 2021 when compared with 2020
As according to given data you understood about the placement of itm University and if you want to take admission in this university then you do this. This data is accurate data provided by its official website.
ITM University Gwalior
Student Forum
Anything you would want to ask experts?Answered 6 months ago
For B.Pharm at ITM University, Gwalior, the annual intake is 100 seats, as approved by the Pharmacy Council of India.
Contributor-Level 9
Answered 6 months ago
S
Contributor-Level 10
Answered 6 months ago
Yes, it is possible to enrol into ITM University Gwalior BTech courses without appearing for the JEE Main exam. For admission to its BTech programme, the university accepts only two exams: JEE Main and ITM NEST. The latter one is conducted by the university itself. Students seeking admission must ha
S
Contributor-Level 10
Answered 6 months ago
Yes, students are offered lateral entry to ITM University Gwalior BTech Hons courses, including Civil, Mechanical, Computer Science, and more. Through lateral entry, students get admitted directly to the second year of the course. Moreover, to get lateral entry, students must satisfy the eligibility
S
Contributor-Level 10
Answered 6 months ago
Yes, students with a BTech degree from ITM University Gwalior can pursue various government jobs. They can seek out vacancies in reputed government companies such as Indian Railways, ONGC, BHEL, ISRO, and others. Students with no prior experience are generally recruited for entry-level positions suc
S
Contributor-Level 10
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Updated on Aug 18, 2025
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How many seats are there in ITM University Gwalior for BPharma?