No, you should definitely go for another NITs or IIITs instead of IIIT Bhopal because of the following major reasons:
We can say that IIIT Bhopal significantly lags behind when compared to the NITs and still needs time to withstand in the list of ‘Recognized Institutions’ in India.
You can follow this order whenever this kind of confusion arises: IISc Bangalore >IITs > NITs >IIITs >Central universities > State government colleges. So, if you have to choose between any IIIT and NIT, definitely go for the NITs.