Stock exchanges have set up an online Document Repository platform that would enable merchant bankers to upload and maintain records and documents relied upon by bankers while conducting their due diligence on public issues electronically.
The platform is intended to facilitate easier access to documents pertaining to the public issue process. Bankers can upload the documents in the platform of any of the stock exchanges and intimate the same to the other stock exchanges where the securities of the issuer company are proposed to be listed.
This has to be done within 20 days of filing a draft offer document with SEBI or stock exchanges and from the date of listing from January 1. From April, the timelines will be further reduced to 10 days.
