Yes, Sagar, you can definitely apply in Indira school of business and UBS Mumbai and most probably you will easily get admission in both the colleges. But with 87 CMAT percentile you can get some better college like:

• Indian Education Society's Management College & Research Centre, Mumbai
• Lala Lajpatrai Institute of Management, Mumbai 
• MAEER's MIT School of Management, Pune (MBA and MMS both)
• Zagdu Singh Charitable Trust's Thakur Institute of Management Studies & Research, Mumbai
• Rizvi Institute of Management Studies & Research, Mumbai
• Vivekanand Education Society's Institute of Management Studies & Research, Mumbai

Feel free to ask if you have any more queries. All the best!!