Mentored by IIM Indore, IIM Sambalpur was registered as a Society under Societies Registration Act, XXI of 1860 on August 19, 2015. The present campus of IIM Sambalpur has been set up at Sambalpur University Campus, Burla, Odisha- 768017. 
IIM Sambalpur has been allotted a piece of land measuring over 237 acres in Basantpur, for the permanent campus by the Government of Odisha.