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.
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.