M/s PQR Limited is a non-listed company. It has plan of raising finance through public issue of shares. M/s POQ Limited has appointed M/s Fair Issue Merchant Bankers. You are working with M/s Fair Issue Merchant Bankers

Preparation for an offer document involves humungous documentation and paper work. At the time of commencement of due diligence Merchant Banker and the Legal Advisor circulate the 'Compliance Manual enumerating detailed requirements along with various formats and undertakings to be submitted to the Company. Only on compiling the majority of documents the process of diligence actually starts. Companies set up specific location where all the documents and the copies of the same are made available for examination & verification. Such location is popularly known as 'Data Room' In the present scenario these data rooms are also set up in virtual space and are called as 'Digital Data Room' or 'Virtual Data Room' on various drives such as google drive. All the concerned executives will have access to the Data Room while drafting the offer document. Essentially, a virtual data room is a secure online repository for document storage and distribution used in the due diligence process - used by a merchant banker/lawyers / intermediaries in relation to a public / rishis issue.