That doesn't work as per Indusind CC Team. It will throw you an error " you are already an IndusInd Bank CC Holder".
And after getting the Tiger/IndusInd Bank co-branded card, you can't get any card via Split Basis.
@Ak Singh can confirm this.
The only workaround is to get a core card, take co-branded cards on a split basis, and then upgrade the core card to Tiger. And keep using all of them.
Note: Core card limit must be 1.5L minimum for Tiger Upgrade.