New Delhi, Dec 5 (PTI) Markets regulator Sebi on Thursday asked merchant bankers to upload and maintain due diligence documents related to public issues on the repository platform maintained by stock exchanges.

The uploaded documents can be accessed by the relevant merchant banker using individual login credentials.

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However, such documents must be available for the purpose of supervisory functions of Sebi, the regulator said in a circular.

The regulator said that uploaded documents must be relevant, complete and legible.

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Stock exchanges have launched an online platform, repository, where merchant bankers can electronically upload and maintain due diligence documents related to public issues. The platform facilitates easier access and efficient record management.

"To enable efficient maintenance of records, merchant bankers are advised to upload such records and documents on the Document Repository platform set up by the stock exchange," Sebi said.

The exchanges will provide a list of documents prepared with Association of Investment Bankers in India (AIBI) and instructions for uploading.

Effective January 1, 2025, documents must be uploaded within 20 days of filing the draft offer document with Sebi or stock exchanges and within 20 days of listing on stock exchanges.

From April 1, 2025, this timeline will be further reduced, requiring documents to be uploaded within 10 days of filing the draft offer document and within 10 days of listing on stock exchanges.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)