India, April 8 -- Markets regulator SEBI has approved the IPOs of jewellery startup BlueStone and NBFC Aye Finance. While the regulator issued an observation letter to BlueStone on April 1, it issued the letter to Aye Finance on April 3.

In SEBI's parlance, the issuance of an "observation letter" signifies that the regulator has reviewed a company's draft red herring prospectus (DRHP) and doesn't have any immediate concerns, essentially giving the company the go ahead to proceed with the public offering.

While BlueStone filed its IPO papers with the regulator for INR 1,000 Cr IPO on December 12, Aye Finance filed draft paper for INR 1,450 Cr IPO on December 17. The markets regulator is still reviewing the IPO papers of new-age tech comp...