Which course is better (package-wise): HSEE at IIT Madras or IPM at IIM Indore?

HSEE at IIT Madras is humanity and social sciences course so don’t expect a satisfying placement after pursuing this course. If you are willing to opt for civil services after the end of this course, then you may go for it. The highest package offered so far has been 12 LPA. Your placement package is determined by your caliber in the field. 

Whereas IPM is a 5-year integrated course at IIM Indore. It endows you with an MBA after graduating from this 5-year course. Placement opportunities are tremendous in this course. The average salary ranged around 15.6 LPA for the students of the IPM batch.