RishirajKalita
What is the difference in chances in applying R2 vs R3?
The intake is almost evenly spread across different rounds. So, apply when you feel comfortable and ready. Most significant differentiator for R3 could be how the batch profile would’ve shaped up in R1 & R2, with regards to the cohort mix (gender, backgrounds, work-ex, etc) vis-a-vis the mix the school would prefer. That could slightly favour certain sections over the other in R3 - just as it would have in R1 & R2 earlier.
All that said, there is not much value in making a hasty application in R2 if you feel you could have a stronger application in R3 (maybe better GMAT or another certificate, or just better essay/LOR, etc).