Becoming a professor from the new IIMs is definitely possible but rare. The FPM program offered at the new IIMs has varied peers some being freshers while some with Masters from foreign universities.

The following things matter when selecting an Assistant Professor in a new IIM

• Your experience 
• The quality of your papers

The chances are rare because most of the new IIMs have professors who have done Ph.D. from older IIMs like IIM Ahmedabad, IIM Bangalore, and IIM Calcutta. Ph.D. is a program that totally depends on your performance and research. The initial years focus solely on research training and cannot be enough to make you eligible for faculty positions.

So your chances are rare but not null.