Let me share some basic information that I found at last couple of years' wait-list forum.
1. The status of all of us on 15th Feb would again be changed to 'Shortlisted for Interview' before the R2 results are announced. Once the results started pouring in, 2 guys reported that they got final offer on that day itself while 2 reported that they were rejected. All other waitlisted candidates reported after 1st week of March.
@Kapesfrom one of the last threads I saw someone had a google docs with some information that we could all fill in and track - and see patterns or status... check out the 2013 W/L thread.. it has a google docs...Anyway.. how do I add people to the thread???
I second sadhvika. I don't think most are IT applicants. Most of my friends who applied to ISB - (this is just 4 and a very bad sampling size) - either got accepted (1) or rejected (2). I was the black sheep of the herd who got waitlisted.