Are degrees from ignou recognised?

Guys i am doing BSc mathematics from ignou, I want to do MSc mathematics in regular stream,do colleges recognise ignou BSc degree.Can I apply for Msc mathematics in jawaharlal nehru university delhi after finishing my degree in ignou and what are the probabilities that I would get a seat in jnu.I have good marks and I am quite strong in my subject and confident that I would crack the entrance exam.please tell me also if I am eligible to get into IIM's.