https://careers.snapdeal.com/careersection/ex/jobdetail.ftl
I am guessing, this is some kind of cheap publicity stunt.
But this filtering by IITs/NITs/BITs shows - how out of touch they are. I know some of the most brilliant programmers in Bangalore/Pune and they are not from these "premier institutes". In fact, being from NIT Trichy myself, I have concluded that - most engineers from these colleges are risk averse and likely stick to a well trodden path of B.Tech + MBA or head to US for MS.
The average ones got hired locally by multinationals like EBay / Amazon / Google etc..
So the ones who were actually applying to companies like Snapdeal etc.. were the 4 point someones who really have nothing but an "IIT degree" on their Resume.
I interviewed a couple of those for our startup. Honestly speaking, we found more interesting people via Employee referrals - even if they didn't graduate from these universities.