Public Limited Company
Public Limited company entity form of business is ideal for large corporates and compulsorily for entities which want to raise a capital from public at large through their Public Offerings. Such companies are subject to very high level of monitoring and periodic compliances. Also such companies are required to disclose their financial working in the public domain by various applicable statutory filings. For formation of Public Limited company, at least 7 subscribers to the Memorandum and Articles of Associations are required. Further, a minimum number of 3 directors are required to form a Public Limited company.
How to Form a Public Limited Company – Documents Required
- Directors Identification Number
- Digital Signature Certificate of the Proposed Director(s)
- Application for Name Approval
- Incorporation Documents along with Proof for Proposed Place of Business
- MOA / AOA of the company
- PAN Card of Private Limited Company
- Statutory Registration e.g. MSME/GST/TAN etc.
- Open a Current Account in the name of the company
- Start Doing Business
- Enhances the Branding of the company in the eyes of Investors, Lenders and other stakeholders
- There is very high disclosure requirement for all major decisions of the entity in the public domain.
- Public Limited companies are required to file the complete Statutory Accounts in the public domain in the public domain.
Ideal for Whom
- Generally for entrepreneurs wishing to raise the capital from public at large.
- In Projects requiring a much higher infusion of capital.