Well actually, the admission portal has been open for quite a while, so it's high time for you to get started with the necessary formalities. There's been some confusion on the Yahoo! group about which links to look at, so here they are. Take some time to go through them.
General Info on the PGSEM Programme
PGSEM Admissions Announcement
Admission Procedure for PGSEM 2011
Online Application Portal
Best of luck to all the prospective candidates! We look forward to inviting your batch this year amongst these hallowed halls!