(Important: Read the other comments for all the important tips for every round.)
This was a pen-paper test that consisted of approx 20 questions. The questions were based on logic and statistics. The questions were not very difficult but they were unconventional and fun to solve. It required us to think practically. A few statistics terms and concepts were required. The solution to each question was to be written along with the final answer. We were certainly not prepared for such a test but it turned out to be an interesting experience for us. The results for this round was declared a few days later.
Some 30 students were selected from the previous round. Round 2, 3 and 4 took place on the same day. The selected students from the previous rounds were then taken for a group discussion. Groups of 6-8 students were formed and they were called in for the discussion. Our group discussion was conducted by the CEO Shivram sir himself. He was very friendly and patient with us. He told us how he expected the discussion to go. We were given a topic: Changes I'd like to make to the current recruitment process on the campus.
We were given five minutes to note down our points first and then 20 minutes were given for the discussion. Since ours was the first group, we made a few mistakes but Shivram sir was kind enough to explain to us later how we could have made it better. The results were announced after everyone's discussion was over.
The shortlisted students from the group discussion were called in for an HR/technical interview. Since the position offered was of an analyst, coding was not one of the prerequisites. So the questions asked were pretty much based on probability, statistics, and mostly logic. the interviewer asked me 2 questions. One of the questions was a truth table of 4 variables (X, Y, Z, W) and we were supposed to find the boolean relation between the variables. I solved it using logic and it was correct. He later told me that it could have been easily solved using K maps. The other question was also solved correctly by me. The interview went pretty well.
Five people were shortlisted from the previous round. We had a final HR/technical interview with the CEO Shivram Apte sir. He had been very kind and patient with us all throughout the process. He made me comfortable at first by asking a few basic questions about my resume. He saw in my CV that I had done my summer internship at Delloite (which is a multinational consulting company) and in a similar position as an analyst. He asked me if I get a full-time offer there, which company would I choose to work at, and why. I told him that I would prefer working at Aspect Ratio because it's a small company which means that I'll be getting bigger responsibilities and hence, will have more learning opportunities. "I'd like to be a 1/200 than 1/20000 and that way, my contribution to the growth of the organization would be bigger" He seemed impressed by it. He asked me about my hobbies. I was given a choice, if I want to answer the question he wants to ask me and take my chance or to tell a problem statement myself and describe the solution to it that I found. Basically any interesting case study, similar to the case studies given on their website. I took the second option and described a sales case study that I had recently read in the book called 'Power of Habit' by Charles Duhigg. He seemed pretty satisfies with my answer. He asked me if I know Monte Carlo simulation or any graphical regression concept. I was not prepared for any topics from statistics, hence I told him that I am not very familiar with the concepts. He told me not to worry and that I can solve the questions by logic also. Then he asked me if I know SQL which I instantly answered as affirmative. He gave me details of a few tables and asked me to write a couple of queries to extract information from the given tables. They weren't difficult and required just order by and group by functions. Nothing too complicated. The interview ended and after everyone's interview was done, the result was announced that I was selected. They selected 2 people from our campus as full time analysts for their office in Pune.
Round 1: Just think practically and pay attention to the details given in the question. The problem statements will be big and will have the next 2-3 questions based on them. Don't aim to solve all questions since it'll be difficult and stressful. Instead, try to solve at least 50% of the paper correctly and check your logic and calculations again for each question. If there is still time, try to attempt more. Keep your solutions short but easy to understand. If necessary, explain your logic briefly in words.
Round 2: A group leader is the one who takes the initiative to start the group discussion and briefly introduces the topic which is supposed to be discussed. Being the group leader gives a headstart to that person in the interview. Do not remain quiet during the session or expect someone to ask you to speak. Speak up as soon as you get the opportunity. Do not interrupt anyone. You can continue your point by building on someone else's point who spoke before you by saying "I agree with what XYZ said, I'd like to extend that point by mentioning...". Another way you can show leadership quality is by making sure that the discussion does not go off the track or become chaotic. If you feel that irrelevant points are being made, politely bring everyone's attention to the topic. If you feel someone is not speaking or is not getting the chance to speak because they are being spoken over by other people, use this opportunity to let them speak by saying "I think ABC is trying to put forth a point.". This shows your observation skills. Additionally, it is not correct of everyone is agreeing to a point which is put forth, try to direct the conversation somewhere by adding a little opposite view so that the group doesn't become quiet. At last, someone should take the initiative to end the discussion 3-4 minutes before the deadline by summarising everyone's points and giving out a proper conclusion.
All of these points were told to us by Shivram sir himself.
Round 3 and 4: Be prepared with some basic probability and statistics concepts from Maths 2 from the second sem like basic linear regressions, k maps, types of distributions, Monte Carlo, and Las Vegas simulations. If you know SQL, brush it up a little. However, if you are not aware of any concepts, do tell that to them directly. Be prepared with your answer for some common interview questions such as "Tell me something about yourself." (do not mention anything given in the CV. Speak about your qualities and skills. Advertise yourself in the most humble way possible.), "Tell me about your hobbies" (Speak about your hobbies with passion and make sure you have something concrete to show for it. For example, name a book you recently read if reading is your hobby, tell them what new you learned in dancing if that is your hobby, etc. Make it look authentic and not just superficial.) Skim through their entire website and read the case studies given there to get an idea about the kind of questions you should be prepared for. Lastly, be confident and if you feel uncomfortable or are unable to answer any question, make sure you communicate it to the interviewer.
All the best!