A public limited company is typically created to raise money from outside sources, i.e., the general public, in order to launch a business, expand an existing firm, advance technology, expand internationally, etc.

However, a PLC is more appropriate for large enterprises with a broad viewpoint and greater growth potential than for the small company next door.

In India, a public limited company is a voluntary group of members with a distinct legal existence and limited liabilities. A Public Limited Company may be either an unlisted or a Stock Exchange-listed Company. Public limited companies have numerous possibilities for raising capital from institutional investors, the general public, and bank loans.

Public limited companies have several advantages over private limited companies, and the fact that they can have any number of members, make share ownership transfers simple, and offer greater transparency appeals to international investors. Start your firm by incorporating a public limited company if you intend to raise money from the general public through an initial public offering (IPO).

Checklist:

• Have unique name
• Business activity
• Have atleast 3 directors and 7 members
• Shall have Authorised Capital of Rupees 5 lakh

Details and documents required:

• Unique name for name application
• Main object clause
• Directors cum first subscriber details and documents:
  • Self-attested copy of Aadhar Card
  • Self-attested copy of PAN Card
  • Self-attested copy of Voter id/ Driving license/ passport
  • Address proof (Latest Bank statement/Electricity bill/ Telephone Bill/ Mobile Bill of all directors and subscribers)
  • Education qualification
  • Occupation
  • Mobile number
  • Email Address
  • Ratio of shares by each subscribers
• Copy of Electricity Bill/ Telephone Bill/ Water Bill not older than two months as a Proof of Registered office of Proposed Company.
• Rent agreement (If any)
• NOC for bill
  Note: if proposed directors not having DSC then also needs to apply for DSC and following documents required for application of DSC:
  • Self attested PAN CARD of directors
  • Self attested Aadhar Card of directors
  • Passport size photograph of directors
  • Email address and mobile no. of directors