The Securities and Exchange Board of India (SEBI), on December 05, 2024, issued a notification regarding the Repository of documents relied upon by Merchant Bankers during the due diligence process in Public issues.
The following has been stated-
In accordance with SEBI (Merchant Bankers) Regulations, 1992, merchant bankers must now upload and maintain due diligence records related to public issue management on a Document Repository platform established by stock exchanges. This platform aims to enhance the efficiency and accessibility of records.
From January 1, 2025: Upload within 20 days of filing draft offer documents and listing.
From April 1, 2025: Upload within 10 days of filing draft offer documents and listing.
The repository, accessible only to the respective merchant bankers, must ensure documents are relevant, complete, and legible, and made available for SEBI’s supervisory functions. This circular applies to draft offer documents filed on or after January 1, 2025, for listing on Mainboard/SME exchanges.
[Notification No. SEBI/HO/CFD/CFD-TPD-1/P/CIR/2024/170
