Embodiments herein provide a Multiple-Input Multiple-Output (MIMO) method for a communication system in general, and more particularly to an Orthogonal Frequency Division Multiplexing (OFDM) based communication system to serve more than one receivers on the same resources. The method includes selecting, by a transmitter, a plurality of precoder matrices for a plurality of receivers from a predefined codebook of precoders, where the plurality of precoder matrices is dynamically cycled within an allocated resource. Further, the method includes transmitting, by the transmitter, a symbol vector precoded with the plurality of precoder matrices over MIMO channel associated with the plurality of receivers.