How is the 5-year integrated programme (3-year UG and 2-year PG) at IIM Indore different from MBA?

If the course brochure mentions it's a Diploma/PG Diploma programme, then it's what they say it is, one cannot consider it equivalent to a MBA programme. The quality of education may be as comparable to a MBA or even better. But at the end of the course you get PG Diploma.

Hi, After the passing of the IIM Act (2017), IIM-I will give a degree of B.A. (Foundations in management). On completion of 3 years and an MBA degree for the last two years of 5-year IPM Course. Thanks.

If the course brochure mentions it is a Diploma/PG Diploma programme, then it's what they say it is, one cannot consider it equivalent to a MBA programme. The quality of education may be as comparable to a MBA or even better. But at the end of the course you get PG Diploma.