IISC Bangalore is one of the most reputed research institute in India.According to previous year statistics there were not much placements for M.Tech Mechanical engineers . Only few students were able to get placed in reputed companies.But according to the current stats the whole scenario has changed.Specific placement cell and permanent placement officer is allotted to IISC. There have been increase in number of students getting placed. The average package now lies between 10 to 11 lpa which is very good compared to previous years. Highest package till now is 12 lpa for mechanical department and companies are still coming for placement in the current year.
You can check more about placement process from the below link.
Good luck for your future.