Register Public Limited Company (Limited)
- - Public Limited Company in 10 to 15 days.
- - Completely online service - No physical presence required
- - No minimum capital requirement
Public Limited Company
Know What is Public Limited Company? and How it is registered?
What is a Public Limited Company?
A public Limited company is the largest form of business available in India. Public limited company is a large company and is formed in order to raise funding from public through IPO etc. There is no limit on maximum no. of members however, after 500 members, SEBI approval is needed.
How to register Public Limited Company in India?
Public limited company registration require 7 persons to start. No minimum capital requirement is there, one can start with even Rs.5,000. Here are following three important points:
# Prepare DSC and file Name Approval: The first step is to prepare DSC and DIN. This takes sometime one to two days. Thereafter, you need to file for name approval. The first word of the name should be unique and name should end with the words “Limited.”
# File for Incorporation: After taking name approval, the next step is to file for incorporation via spice form INC 32. Further, PAN and TAN are not required to be filed separately and the same is allotted on company formation.
# Take GST Registration: After incorporation, access your business and take necessary registration including GST registration. This is because working without tax license is illegal in India.
Know the basics
Learn the basics about Public Limited Company & its compliance
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The difference between listed company and public company is very simple. A public company when go to public to raise capital, it had to get registered with stock exchange and once it is registered, then it is also known as listed company.
Any company who wants to raise funds through general public, first have to get themselves listed on any recognized stock exchange. Any company which is being recognized or listed on any stock exchange, is known as listed Company. Like Infosys, Tata, ICICI Bank etc.
Public limited companies is the only class of company which is allowed to raise funds from the general public. The process of listing a company and raising the funds from public by making offer is known as Initial Public Offer (IPO). IPO is the process through which shares are offered by the companies to raise funds.
With Hubco.in, it takes around 10 to 15 days to register the Company. Further, in case you need a quick registration, you need to provide us the documents on time or as early as possible.
There are various statutory compliances prescribed for Public Limited Company in India. Here are glimpse of some of the compliances:
- Have to conduct atleast 4 board meeting during the year.
- Have to file AGM every year and do the respective filing like MGT 7, AOC 4 etc.
- Have to go through an yearly mandatory audit to be done by a Practicing Chartered Accountant.
- Need to keep record of register of Members, Minutes book etc.
Yes, NRI and foreign National can incorporate a public limited company in India without even coming to India. As per the law, all the documents needs to be notarized or apostle from the public notary or Indian embassy of the foreign Country.
Further, NRI and foreign national can also become director in the company.
The company name selection should be done on the basis of company name structure. The Company name should start with your brand name e.g Hubco is our brand name (Trademark filed) and hence we have registered Hubco Technologies Private Limited. Likewise, in case of TATA steel limited, TATA is the brand name.
The second part of the Company name denotes its objective. Like in case of TATA Steel Limited, steel denotes its steel business. The last part of the Company name ends up with ‘Limited’. No public company can be registered without having limited word at the end.
The basic structure for your reference is as follows:
This could be anything, like your surname, your brand name, like TATA in case of TATA Steel Limited
Objective denotes your business activity, like steel in case of TATA Steel Limited.
A public limited Company always ends with these words and are mandatory by law.
Important Point: The new company name should not match the existing company or any existing trademark in India.
Public limited companies are the highest considered form of business available in our country. It can do anything that is allowed to do in India. From raising funds from angel investors to having an initial Public Offer (IPO), it can offer many innovative measures to raise funds.
- It can be listed on any stock exchange.
- It is considered for some serious business, helps you to gather resources.
- Considered more trust worthy than any other form of business
Practically, public limited company is formed only when someone is planning big like setting up manufacturing plant, opening IT infrastructure etc. Generally, people prefer private Limited Company and public limited company is least preferred. However, if you are serious and planning big, the public limited company is chosen.
Some of the example of Public Limited company are Reliance Communications Limited, TATA Steel Limited etc.
Public limited Company incorporation is done from a totally new procedure, which is done through SPICE e form. The incorporation procedure is as under:
- First we apply for Digital Signatures
- Then we apply for Director Identification Number (DIN)
- Then we apply for Name approval as per your choice
- After that in the end, we apply for incorporation through SPICE e form.
Further, as per amended provisions, PAN and TAN are automatically allotted on company incorporation.
PLC company limited is the short form of Public Limited Companies. The word ‘INC’ in the end is used by the companies registered in USA, e.g. Animaker Inc. etc.
Here are some major features/characteristics of a Public Limited Company:
- It can bring Initial Public offer (IPO) to raise funds and can become the listed company.
- It is the superior form of business and hence compliances and controlling provisions are applicable as per Companies Act, 2013.
- It is not considered a small company and cost of registration and maintenance is high.
Private limited company is considered inferior in comparison to Public Limited Company. Public Limited companies are considered to be superior than any other form of business. Here are certain difference between Private Limited Company and Public Limited Company:
|Private Limited Company
Public Limited Company
It is considered to be the best for startups, however many pvt ltd companies remain non active due to non seriousness.
It is considered to be the best form of business for large and serious business.
Maximum of 200 shareholders can be added into the company.
There is no limit on number of shareholders.
Low on the compliances as compared to the Public Limited Company.
High on the compliances, need expert to manage affairs.
It cannot be listed on any stock exchange.
It can be listed on stock exchange and can go public to raise funds.
Like every coin has two sides, Public Limited Company has also certain disadvantages. Here are following disadvantages:
- It incurred high compliance cost.
- More compliances applicable than any other form of business
- Stringent penalties if any non compliance is initiated.
There is no minimum capital requirement for public limited company incorporation in India. Earlier, it was 5 lakh, however to provide ease of doing business in India, the requirement of minimum capital for Public company is withdrawn.
Yes, the company can be incorporated online and you don’t need to be present in person. We take care of all the formalities with ease. Hubco.in is a brand in company registration in India.