The article tries to highlight the evolution and conceptual framework of institutional repositories and their impact on the academic and scholarly circles in terms of better visibility, wider audience and earlier communication of research. The characteristics associated with the institutional repositories are also highlighted, which makes them stand out from the crowd in the family of open access scholarly platforms. The study is based on the examination and evaluation of the articles published across various peer-reviewed journals showcasing numerous dimensions of institutional repositories, ranging from their evolution to open scholarly acceptance. A preliminary search on institutional repositories was carried through two well-renowned indexing/abstracting databases of peer-reviewed literature, Clarivate Analytic's, Web of Science and Elsevier's Scopus. Search terms like institutional repositories, institutional research output, open access repositories, green open access, open access, open access publishing, open access initiatives, digital libraries, directory of open access repositories, open DOAR and scholarly communication were run across the databases for article retrieval, and the relevant studies were extracted accordingly. To make the study more comprehensive and current, the studies citing the retrieved articles were also consulted. The study reveals that the benefits associated with institutional repositories are manifold. They recounter users with the information which was otherwise unavailable due to the reasons ranging from the non-availability of supplementary information (like unpublished reports and working papers, multimedia and audiovisual items, learning objects, other special item types, bibliographic references, datasets, lecture notes and so forth) to the paywall/subscription models adopted by commercial channels of scholarly communication. Furthermore, the social, research and technological factors tend to be the main motivating factors for their wider acceptance by the scholarly community at global, national, organizational, and individual levels. They enhance the preservation of institutional research output with increased viewership and prestige apart from achieving a potential research impact. They, in a real sense, have abrogated the unilateral assault orchestrated by the commercial publishers on the author community by democratizing their scholarly voices via open and barrierless scholarly platforms. They are the future of the academic output of an institution/author as they perform successfully within the constitutional boundaries of scholarly and academic publishing, thus safeguarding the rights and claims of every academic actor. Given the importance of institutional repositories for a more democratic, barrierless and impactful information communication, they are for sure going beyond various scholarly circles by breaking the traditional and rigid walls of scholarly endeavours. The study presents a useful overview of the progression of the institutional repositories, their intended purpose and how they serve to fill the gaps in scholarly publishing and meet the needs of the wider academic community. The article summarizes in one place a concise overview of the use and impact of institutional repositories. The study is also an eye-opener for scholars interested in the research in the field of institutional repositories. [ABSTRACT FROM AUTHOR]