Public Limited Company
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Public Limited Company Registration in India
Are you an entrepreneur with a vision for large-scale operations and public investment? A Public Limited Company (PLC) is the ideal business structure for you. Unlike private companies, a PLC can raise capital from the general public by offering shares on stock exchanges, providing access to a massive pool of funds for growth and expansion.
At FileMyFirm, we can help you with your Public Limited Company registration in India with ease and efficiency. Our comprehensive services cover everything from the initial registration to ongoing compliance, ensuring a smooth and hassle-free setup process.
What is a Public Limited Company?
A Public Limited Company is a corporate entity that allows the general public to hold ownership stakes through publicly traded shares. This structure is governed by the Companies Act, 2013, and is defined by its ability to sell equity to a diverse group of investors, traders, and brokers on established stock markets.
Key characteristics of a Public Limited Company:
- Board of Directors: A PLC must have a minimum of three directors to manage its operations and strategy.
- Company Name: All PLCs must include the word “Limited” at the end of their name.
- Public Prospectus: Required to prepare and issue a prospectus detailing the company’s financial health and operations to potential investors.
- Minimum Shareholders: A minimum of seven shareholders are required to form a public limited company, with no upper limit on the maximum number.
Requirements for Public Limited Company Registration
To successfully register a public limited company, you must meet the following requirements:
- Minimum Shareholders: You must have at least seven shareholders.
- Minimum Directors: A minimum of three directors is required. Each director must have a valid Director Identification Number (DIN).
- Authorized Share Capital: The company should have a minimum authorized share capital of ₹1 lakh.
- Digital Signature Certificate (DSC): At least one director must have a DSC for electronic submission of documents.
- Company Name: The name must be unique and comply with the Companies Act.
- Foundational Documents: You must prepare and submit the Memorandum of Association (MOA) and Articles of Association (AOA).
Advantages of Public Limited Company Registration
- Easier Access to Capital: PLCs can raise significant funds from the public by issuing shares.
- Limited Liability: The personal assets of shareholders are protected, and their liability is limited to the extent of their shareholding.
- Increased Credibility: Being a public company enhances your brand’s credibility with customers, suppliers, and financial institutions.
- Growth Opportunities: Access to capital and a broader shareholder base provides the necessary resources for rapid expansion.
- Easy Share Trading: The shares are easily transferable on the stock market, which attracts more investors and provides liquidity to existing shareholders.
Public Limited Company Registration Procedure
The process for Public Limited Company registration involves several structured steps:
- Obtain DSC & DIN: Secure a Digital Signature Certificate (DSC) and a Director Identification Number (DIN) for all proposed directors and subscribers.
- Name Availability Check: Use the MCA portal to check if your desired company name is unique and available.
- File SPICe+ Form: File the comprehensive SPICe+ form with the MCA, which covers all legal requirements for incorporation.
- Submit MOA & AOA: Submit the Memorandum of Association (MOA) and Articles of Association (AOA) with the SPICe+ form.
- Certificate of Incorporation: Upon successful verification, the Registrar of Companies (ROC) will issue the Certificate of Incorporation, which includes the company’s Corporate Identification Number (CIN) and PAN.
- Apply for PAN and TAN: The company’s Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN) are generated during the registration process.
- Open a Company Bank Account: Open a bank account in the company’s name to handle all financial transactions.
Documents Required for Registration
- Identity and address proof for all shareholders and directors (Aadhaar Card, PAN Card, Voter ID).
- Proof of company office address (recent utility bill).
- Landlord’s consent letter for the business premises.
- Digital Signature Certificates (DSCs) of all designated directors.
- The company’s Memorandum of Association (MOA) and Articles of Association (AOA).
Why Choose FileMyFirm for Your PLC Registration?
Starting a public limited company is straightforward and efficient with FileMyFirm. With our expert guidance and commitment to smooth, compliant service, we streamline the entire registration process. We handle all the necessary documentation, including DSC, DIN, MOA, and AOA, and ensure your company complies with all legal requirements.
Choose FileMyFirm to leverage our expertise and focus on growing your business while we take care of the bureaucratic hurdles.
Get started today and easily establish your public limited company in India!
Frequestly asked questions ( FAQ )
A PLC is a corporate entity that allows the general public to hold ownership stakes through publicly traded shares. Its primary purpose is to raise substantial capital from a wide base of investors for large-scale growth and expansion.
A Public Limited Company must have a minimum of three directors to manage operations and a minimum of seven shareholders. There is no upper limit on the maximum number of shareholders.
The company must have a minimum authorized share capital of ₹1 lakh to be registered.
Shareholders enjoy Limited Liability. Their personal assets are legally protected, and their financial liability is restricted only to the nominal value of the shares they hold.
A PLC raises capital by issuing shares on stock exchanges. It is required to prepare and issue a Public Prospectus detailing the company’s financial and operational health to potential investors.
The name of every Public Limited Company must compulsorily end with the word “Limited.”