I have learned that there is very less chance for a fresher to get through SIBM...they only prefer people with work experience...is it true?

This is not the case. Everyone has an equal opportunity. It depends on your skills and competencies.

No it is not so. The initial selection is based on SNAP percentile. And there is an equal mix of freshers and people with work ex.

There is no such criteria at all. The selection is purely on merit basis. At SIBM Bangalore, we have a very good mix of experienced as well as freshers joining the college. Infact in the current batch, there are more freshers.