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Public Limited Company Registration in India
A Public Limited Company should be the preferred business choice in India if you plan to raise funds from the general public through Initial Public Offering (“IPO”) because public limited companies have been privileged under Securities Laws to access the capital market.
Why prefer Public Limited Companies?
Public Limited Companies in India are considered a more transparent business model than other business structures. It allows investors to transfer their ownership in the Company without any hassle by just selling the shares.
Public Limited Companies in India are a destination point for Foreign Direct Investment (“FDI”) because, under Foreign Exchange Laws, there are areas open for Public Limited Companies to attract foreign loans and equity participation.
Features of a Public Limited Company
Features of PLC
A Public Limited Company has the following features:
Flexible Structure
A Public Limited Company has the most flexible structure of all Company types. It allows a significant degree of separation between operations and ownership.
Stock Ownership
A Public Company can provide stock ownership or ESOPS to employees. Only Limited Companies are allowed to offer this feature of distributing their stocks among current and prospective employees.
Stock Exchange Listing
Only Public Limited Companies can list their shares on Indian Stock Exchanges such as National Stock Exchange (NSE), Bombay Stock Exchange (BSE), etc. Therefore, the general public can invest in the Company by purchasing its stocks.
Raising Funds through IPOs
Only Public Limited Companies can accept Deposits from the Public under the Companies Act, 2013. This way, the Company can raise more capital for its business operations and size expansion.
Eligibility Criteria for Public Limited Company Registration in India
Eligibility Criteria
Legal Requirements of Public Limited Company
A business looking to register itself as a Public Limited Company must appoint the following executives before filing the incorporation application:
- A minimum of 3 directors and a maximum of 15 directors.
- At least one Director should be an Indian National.
- A minimum of seven shareholders.
- The minimum authorised share capital of Rs. 1 lakh is required.
- Directors required a Director Identification Number.
- The digital signature Certificate (DSC) is required while submitting the self-attested copies of identity and address proof.
- Documents such as Article of Association (AoA), Memorandum of Association (MoA) and Form DIR-12 are required.
Documents required for Public Limited Company Registration in India
Documents required
Documents required
In regard to the Public Limited Company registration, the following documents are needed:
Directors and Shareholders
- Copy of PAN Card
- Identity Proof:
- Voter Card
- Passport
- Driving Licence
- Address Proof:
- Bank Statement
- Mobile Bill
- Telephone Bill
- Electricity Bill
- Recent Passport Size Photo
Registered Office
- Ownership Proof:
- Electricity Bill
- Gas Bill
- Electricity Bill
- Mobile Bill
- NOC (No-Objection Certificate) for Rented Property
Process for Public Limited Company Registration in India
PROCEDURE
The procedure for Public Limited company registration in India is as follows:
- Choosing a unique name for the Company
- Reserving the name of the Public Limited company using the RUN application
- Obtaining the DSC and DIN of the directors of the Company
- Drafting MOA and AOA of the Company
- Submitting the online application for Public Limited company incorporation
- Assessment of the application by the Ministry of Corporate Affairs
Our Assistance in Public Limited Company Registration in India
We at GLOBAL TAXMAN INDIA Pvt Ltd provide end-to-end solutions for Public Limited Company registration in India. Our services include:- Company name research
- Obtaining DSC and DIN
- MOA and AOA drafting
- Application filing
- Following up with the Ministry of Corporate Affairs
In order to keep up with these requirements, you need the assistance of business experts. Additionally, the Public Limited company registration process in India is something that only experts like CA or CS should handle.
Frequently Asked Questions
A. A Public Limited Company should be the preferred business choice in India if you plan to raise funds from the general public through Initial Public Offering (“IPO”) because public limited companies have been privileged under Securities Laws to access the capital market.
A. You can visit the official MCA website and file the incorporation application using the e-form.
A. A Public Ltd Company in India can offer its shares to the general public, while a Private Ltd Company cannot transfer its share outside the Company.
A. You can visit the official MCA portal to access the Public Ltd Company lists in India.
