What should I take, metallurgy and material science at IIT Indore or electrical at IIT Bhilai?

I think the branch matters more than the institute and that being said personally I feel IIT Bhilai Electrical is a better option than IIT Indore Material Science. The small batch size enables you to make the most out of the opportunities and resources. The points below further prove my opinion 

Here is a small list of things why you should consider IIT Bhilai:

• The professors come from IIT Hyderabad, one of the most reputed and well-regarded new IITs.
• The fractal system is followed here giving you a more flexible academic palette. 
• The core subjects are introduced in the first semester itself so that students can identify their interests early. 
• IIT Bhilai EE lab is one of the very few labs in India which is Cloud Connected.
• There are 20 All-in-ones that have 8-core i7 processors in the EE lab.
• The institute has vibrant campus life with dynamic student activities going on such as 6 cultural clubs and 3 tech clubs.
• The Electronics Club of IIT Bhilai Is well-equipped and enables you to experiment with various modules like GPS module, GPRS module, accelerometer, etc

Overall, taking IIT Bhilai will not disappoint you and you will have a plethora of opportunities here.