Having read some reviews online about IIM Lucknow, IIM Kozhikode, FMS, and MDI, here are some things I got to know which might be useful to you.

• IIM Lucknow and IIM Kozhikode both are older brands. They have a proper recruiter base, alumni network, campus life, infrastructure, and better placements.
• FMS also offers low-cost and decent placement facilities, but students of FMS claim to have no campus life and any eventful experience.
• MDI is considered to be decent. Thankfully they have a better and more happening campus life, unlike FMS. Bain Capability Network recruits at MDI while Bain & Co. go to the other mentioned colleges.

So the order of preference would be IIM Lucknow > IIM Kozhikode > FMS > MDI. This is as per the major rankings including Times B-School categorization. So select the one that matches most of your interests.