I was a 7 pointer at IIIT Allahabad. I got placed in couple of good companies before my graduation. There is almost no correlation with pointer and placement in IIIT Allahabad.
That said there are few companies (5 % tops ) which wouldn’t let you pass through their initial shortlist.
Keeping the placements aside, I would recommend you to get a good GPA. It’s useful, say you would want to do MS or Phd few years down the line. It’s pretty easy to get a good GPA (8.5+) in IIIT-Allahabad comparing to most other national colleges.
So bottom line, good GPA doesn’t help much in your placements. But it’s a good thing to get it because it might be helpful for your future career decisions (Also it’s easy to get. Yeah, it comes from a 7 pointer guy).