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Public Limited Company 

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Overview

                A Public Limited Company (PLC) is a large-scale business structure in India, governed by the Companies Act, 2013. This type of company is ideal for businesses seeking large-scale funding from the general public through the issuance of shares. A Public Limited Company enjoys separate legal entity status, limited liability protection, and is often chosen by businesses aiming for substantial growth, access to capital markets, and enhanced credibility.

Key Features

Limited Liability

           Shareholders’ liability is limited to their shareholding, safeguarding personal assets from the company’s debts and obligations.

Separate Legal Entity

           The company operates independently of its shareholders, with its own legal identity, enabling it to own assets, enter into contracts, and sue or be sued.

Perpetual Succession

           The company’s existence remains unaffected by the death or departure of shareholders, ensuring continuity.

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Free Transferability of Shares

           Shares can be freely bought or sold, providing liquidity to shareholders and facilitating access to capital markets.

Compliance Requirements

            Public Limited Companies are subject to strict regulations, including mandatory audits, regular filings with the Registrar of Companies (ROC), and shareholder reporting.

Why Choose Public Limited Company?

Access to Capital Markets

               PLCs can raise large sums of capital by offering shares to the general public through Initial Public Offerings (IPOs) or secondary market offerings.

Enhanced Credibility and Trust

              Being a public company enhances credibility and transparency, attracting investors, business partners, and clients.

Limited Liability Protection

              Shareholders’ liability is capped at the amount they invested, protecting personal assets.

Broad Investor Base

              Shares can be issued to the public, including institutional investors, venture capitalists, and retail investors.

Growth Opportunities

              PLCs have greater opportunities to expand through mergers, acquisitions, and large-scale investment, leveraging public funds.

Basic Need

Choose a Business Name

              Select a unique name for the company in line with the naming guidelines issued by the Ministry of Corporate Affairs (MCA).

Obtain Digital Signatures

              Secure Digital Signature Certificates (DSC) for the proposed directors to facilitate electronic document submission.

Apply for Director Identification Number (DIN)

              Obtain DIN for all proposed directors via the MCA portal.

Draft the Memorandum and Articles of Association

              Prepare the Memorandum of Association (MOA) and Articles of Association (AOA), which define the company’s objectives and operational rules.

File for Incorporation

$

File the application for incorporation with the MCA, including the MOA, AOA, DINs, DSCs, and other necessary documents.

$

Upon approval, the company will receive a Certificate of Incorporation.

Obtain a PAN Card

             Apply for a Permanent Account Number (PAN) for the company for tax purposes.

Open a Current Bank Account

            Open a current account in the company’s name. The bank will typically require the Certificate of Incorporation, PAN card, and proof of the registered address.

Register for GST (if applicable)

$

Register for GST if the annual turnover exceeds ₹20 lakhs (₹10 lakhs for special category states) or if engaged in interstate trade.

$

Voluntary GST registration is also an option to avail of input tax credits.

Obtain Additional Registrations (as required)

$

MSME (Udyam) Registration: Beneficial for availing government schemes for small businesses.

$

Trade License: Needed for specific business activities, issued by the local municipal authority.

$

Shop and Establishment License: Mandatory for commercial establishments as per state regulations.

Apply for TAN

             Obtain a TAN if the company will be deducting taxes at source (TDS).

Register with PF/ESI (if applicable)

            Ensure compliance with Provident Fund (PF) and Employee State Insurance (ESI) regulations if employing staff.

Initial Public Offering (IPO)

            Engage with merchant bankers to facilitate an IPO to raise capital from the public.

Optional Steps

Trademark Registration

           Protect the company’s brand by registering a trademark.

Import-Export Code (IEC)

          Apply for IEC if the company engages in international trade.

Listing on Stock Exchange

           Public Limited Companies can be listed on stock exchanges, which improves liquidity and investor confidence.