Pay packets in the range of Rs 50 lakhs or Rs 5 million (international offer) and Rs 18 lakhs or Rs 1.8 million(domestic offer) per annum were offered to the passing out batch of the country's youngest Indian Institute of Management, Indore, during placements.

"A total of 329 offers were made to 115 students of the eighth batch, which included 12 international offers and an average salary of Rs 12 lakhs (Rs 1.2 million) per annum -- an increase of 45 per cent over last year," IIM Director S P Parashar told reporters on Wednesday.

However, the Director did not disclose the name of the company and the highest salary offered by it to the student to avoid any untoward situation as decided by the directors of all the IIM's. He said 67 companies participated in the placement process and among which 29 took part for the first time.

On an average 2.8 jobs were offered per student during the placement. "The most satisfying aspect of the placement process was that 25 per cent of the batch has been placed in consulting firms of international repute," Parashar said.

In the IT sector, besides Oracle, Capgemini, Headstrong, Cognizant, IBM, Tech Mahindra and Covansys -- Infosys also came back to the campus with an international offer of $110,000 per annum, he added.