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Public Limited Company

PUBLIC LIMITED COMPANY

A Public Limited Company is a business entity that offers shares to the public and has limited liability. It is required to follow stricter regulatory and reporting requirements compared to private companies. Here’s a concise overview of the process for registering a Public Limited Company in India:

  • Minimum Requirements: At least 7 shareholders and 3 directors are required to form a Public Limited Company.
  • There is no maximum limit on the number of shareholders.
  • Name Approval: Choose a unique name for the Public Limited Company. The name should end with “Limited” for companies formed under the Companies Act, 2013.
  • Verify the name’s availability through the Ministry of Corporate Affairs (MCA) website.
  • Memorandum of Association (MOA) and Articles of Association (AOA): Draft the MOA and AOA outlining the company’s objectives, rules, and regulations.
  • Digital Signature Certificate (DSC) and Director Identification Number (DIN): The proposed directors need to obtain their Digital Signature Certificate (DSC) and Director Identification Number (DIN).
  • Application for Incorporation: File Form SPICe (Single Application for Incorporation of a Company) with the MCA, along with the required documents.
  • Payment of Fees: Pay the prescribed registration fees based on the authorized capital of the company.
  • Certificate of Incorporation: Once the documents are verified and approved, you’ll receive the Certificate of Incorporation (COI) for your Public Limited Company.
  • Allotment of Shares: Allot shares to the initial shareholders as per the terms specified in the MOA and AOA.
  • Listing Requirements (Optional): If the company intends to trade its shares on a stock exchange, it needs to fulfill additional listing requirements.
  • Statutory Reporting and Compliance: Comply with annual reporting, audit, and other regulatory requirements, including filing financial statements, annual returns, and holding annual general meetings.
  • Transferability of Shares: Shares of a Public Limited Company can be easily transferred, providing liquidity to shareholders.
  • Public Offering (IPO): Public Limited Companies have the option to raise funds through an Initial Public Offering (IPO) by issuing shares to the public.