Merchant Bankers Alert: SEBI sets Timelines for Document Upload in Repository
According to the SEBI circular, the Documents must be uploaded using individual login credentials, ensuring accessibility only to the respective merchant bankers, with provisions for supervisory access by SEBI
Merchant Bankers SEBI Guidelines – SEBI Online Repository Requirements – taxscan
Merchant Bankers SEBI Guidelines – SEBI Online Repository Requirements – taxscan
The Securities and Exchange Board of India ( SEBI ) has set up timelines for merchant bankers to upload documents in an online Document Repository platform established by stock exchanges.
In line with Regulation 14 and Regulation 16 of SEBI (Merchant Bankers) Regulations, 1992, merchant bankers are obligated to maintain and preserve records related to due diligence for pre-issue and post-issue activities for a minimum of five years.
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Thus for better record management, the Document Repository platform allows merchant bankers to electronically upload and maintain essential documents.
Merchant bankers must upload these documents to the repository of any stock exchange where the issuer company’s securities are proposed to be listed and notify the other stock exchanges accordingly.
Stock exchanges, in consultation with the Association of Investment Bankers of India (AIBI), will provide an indicative list of documents and the process for uploading them. Merchant bankers are required to comply with the following timelines for uploads:
From January 1, 2025:
- Within 20 days of filing the draft offer document with SEBI/Stock Exchanges.
- Within 20 days from the date of listing on Stock Exchanges.
From April 1, 2025:
- Within 10 days of filing the draft offer document with SEBI/Stock Exchanges.
- Within 10 days from the date of listing on Stock Exchanges.
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According to the SEBI circular, the Documents must be uploaded using individual login credentials, ensuring accessibility only to the respective merchant bankers, with provisions for supervisory access by SEBI. Merchant bankers must ensure the documents are relevant, complete, and legible.
This circular applies to draft offer documents filed on or after January 1, 2025, for listings on Mainboard or SME exchanges.
To Read the full text of the Order CLICK HERE
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