If we talk about the brand value and worth of these two IIMs I don’t think there are many dissimilarities. The difference between the two is some personal level factors like

Campus: IIM Ranchi has no permanent campus and this is one of the major shortcomings of this institute. IIM Raipur on the other hand has a vast 200-acre campus. It is decked with world-class facilities and will give you the feeling of staying at a hotel.

Placements: IIM Raipur has better placements than IIM Ranchi and for many, this is a major deciding factor. The table below compares the placement statistics of the two IIMs.

Since the brand value of the 2 institutes is almost the same you can choose on the basis of the above factors.

The decision of choosing a college should be taken at an individual level. You can seek advice from others but not ask them to decide for you. Try to analyze what exactly you want from your MBA program. What is it you are seeking and how to achieve it? Once you are sure about that, college does not matter much. 

Honesty both the IIMs you mentioned give an edge to each other. Still if I would have to choose one, I would go for IIM Udaipur because of its recent success stories. IIM Udaipur has seen a rise in international rankings like QS and FT. Earlier these rankings included only the top IIMs A, B and C. IIM Udaipur has proven its worth by appearing on such international rankings. It is also the youngest B-school in the “world” to be featured in the FT MiM Rankings.

IIM Udaipur is heaven for a research enthusiast. Its premium research culture is the reason for its recent rise in rankings. As far as placement is concerned, both the colleges have similar statistics. The table below has drawn a comparison between the two.

When it comes to choosing a business school, the competition is fierce and the options can be overwhelming. Three institutes that are considered to be among the top in the country are the Vinod Gupta School of Management (VGSOM) at IIT Kharagpur, the Indian Institute of Management (IIM) Ranchi, and the Narsee Monjee Institute of Management Studies (NMIMS).

If you are interested in an operations profile, then VGSOM is a great choice. It is considered to be one of the best institutes in the country for operations specialization, after NITIE. Additionally, the return on investment (ROI) is high. IIM Ranchi, on the other hand, may have a lower average package compared to the other two institutes, but it has the prestige of the IIM tag and a decent profile. The hostels are also fabulous, with single rooms available for students.

NMIMS is considered to be more costly and the batch strength is over 500 students. The top 150-200 students get superb packages and roles that are at par with other top B-schools, however, the next lot of students may have a lot of start-ups, etc. If you want to play safe, VGSOM or IIM Ranchi might be the best option.

However, if you are willing to take a risk, NMIMS might be a good choice as the profiles there are really good. It's ultimately up to you to decide which institute aligns best with your career goals and objectives. Rest assured, whichever institute you choose, you will be choosing a great institution as all three are among the top institutes in the country.