Securities and Exchange Board of India or SEBI has stated that merchant bankers have been asked to upload due-diligence documents made for pre-IPO and post-IPO management onto an online repository maintained by stock exchanges. While these documents may be accessible only to the relevant merchant banker, they must be made available to the market regulator for supervision. It noted that in order to facilitate efficient maintenance of records and documents relied upon by merchant bankers while conducting their due diligence in public issues, stock exchanges have set up an online Document Repository platform which would enable Merchant bankers to upload and maintain the aforesaid documents electronically. The Document Repository platform is intended to facilitate easier access to documents pertaining to public issue process which are required to be maintained by Merchant bankers.
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