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Hi,
Major differences between MBA and PGDM are as follows:
MBA/MMS is offered by universities or colleges that are affiliated to universities' or central body directly under the Indian government while PGDM/PGP is offered by individual colleges and IIMs.
Fees is high in case of PGDM/PGP as compared to MMS/MBA.
PGDM is much more flexible in terms of syllabus as syllabus is not bounded by a particular university.
Ideally, PGDM program is residential while MBA is not.
Examples of PGDM/PGP institutes in India are - IIMs, XLRI, SP Jain, NMIMS (Bangalore/Hyderabad), etc.
Examples of MBA colleges in India are-IIFT, JBIMS, FMS , NMIMS(Mumbai)SIBM (Pune), IITs, etc.
Why few offer MBA and rest offer PGDM?
As per the law in India, only a University can offer degrees such as the MBA, BBA, B.Tech or B.E. Any educational institution which is not affiliated to a University cannot offer a degree. So institutes like IIMs, XLRI, NITIE, MDI etc. which are the autonomous bodies and run independently, cannot offer MBA degree and hence offer the PGDM / PGP.
PGDM / PGP:
PGDM expands to Post Graduate Diploma in Management, while PGP is Post Graduate Program Diploma. And all the confusion starts when you see the term Diploma. Yes, you read it right this is Diploma and not exactly a degree in technical terms. The main reason why postgraduate courses are named as PGDM is because when an Institute is an autonomous body (not affiliated to any University) and conducts management courses, then such Institutes cannot offer MBA degree. Even IIMs, XLRIs doesn't offer MBA degrees; they only give PGP Diploma.
Despite offering PGDM / PGP, autonomous colleges have their advantages.
Autonomous institutes may design their own curriculum to be taught and upgrade it regularly instead of following outdated university syllabus. Reason for university syllabus being outdated at times is that it changes once in 3 or 5 years, which certainly is a deterrent in management arena, where the industry and technology is rapidly changing.
While one may say that PGDM courses are more Industry relevant, up to date as compared to MBA courses, some of the university's MBA programmes have earned a huge brand values in India. Such MBA programmes which have earned reputed brand image are led by Delhi University's MBA programme offered by FMS Delhi. It is today among top 4 colleges in India. This is followed by the MBA degree offered by Symbiosis University and Narsee Monjee University.

LPU is a better option. Being an alumnus of LPU I would prefer LPU as it has helped me grow professionally and provides exposure to various opportunities in terms of internships, workshops, guest lectures, industrial visits, placements etc. LPU is one of the best private universities in the country with world-class infrastructure, modern facilities and highly qualified faculty. It has around 25000+ Students across the campus in different professional Schools. It offers more than 200 programmes in different disciplines. Lovely Professional University's commitment to teaching excellence and providing highest quality education to its students has once again brought laurels. The Ministry of Human Resource Department, Government of India has released NIRF Ranking 2020 and LPU appears in Top 100 in its most crucial Overall category, which includes IITs and Central Universities. LPU is also ranked 78th in the list of all the government and private universities of the country. Universitys Engineering School is in the Top 100, Management School in the Top 50, and Pharmacy School in the Top 30 institutions of India. BBA is a programme that offers an optimum blend of theory and practice to provides a solid foundation in general business management with specializations in area of choice. Highlights of this programme are - Accredited by ACBSP (USA). Credit Transfer - Student after successful completion of 2 yrs. at LPU may be given option to join partner/ receiving university abroad for the completion of programme subject to conditions and norms of regulatory bodies. International Exposure Option Student may be given an option to go for 4 weeks study tour to USA/ European countries or any other country as decided by the University subject to conditions.Semester Exchange - Student may be given an option to join partner/ receiving university abroad for a semester as decided by the University subject to conditions. Lovely Professional University provides placement opportunities to all the deserving candidates, from all courses. It's up to the student's capability to be able to grab the opportunity or not. Till now thousand of students are placed at a very good package all around the world. Some of the alumni are working in the top 10 brands in the world.
Good Luck !!

Yes indeed, but the college should be really top ranked and cool one.
From following colleges you can expect the same:
1. Faculty of Management Studies (FMS), University of Delhi, Delhi
2. Indian Institute of Management Ahmedabad (IIMA)
3. Indian Institute of Management Bangalore (IIMB)
4. Indian Institute of Management Calcutta (IIMC)
5. Indian Institute of Management Kozhikode (IIMK)
6. Indian Institute of Management Lucknow (IIML)
7. Jamnalal Bajaj Institute of Management Studies (JBIMS), Mumbai
8. S. P. Jain Institute of Management & Research (SPJIMR), Mumbai
9. Shailesh J. Mehta School of Management (SJMSOM), Indian Institute of Technology Bombay (IITB)