hello aspirant..

Great Lakes PGPM Admission: Difference between Cycle-1 & Cycle-2 Application
The Cycle-1 and Cycle-2 of application process is distinguished based on the scores with which you are applying. If a candidate has last year exam score, for example for admission 2020, if you have scores of CAT 2018, XAT 2019, CMAT 2019 and GMAT (taken after 1st Jan 2017), you must apply in cycle-1.

But, if you have appeared in CAT 2019, XAT 2020 and GMAT (taken after 1st Dec. 2019), you need to apply in Cycle 2.

While in terms of the selection process, there is no preference given to applicants in any cycle and there is similar probability of getting selected, the applicants submitting application in Cycle 1 get some extra time to plan their finances, personal commitments and exit from companies better as they get an admission offer by end of December.

hope this information was useful to you../

all the best