Description
A Public Limited Company is a company that has limited liability and its shares can be freely traded and sold to the public. For converting a private to a Public Limited Company under Companies Act 2013, you need to have at least 3 directors, 7 shareholders and a paid-up capital of ₹5 lakhs.
Why do private limited company convert to public limited company?
Conversion of private limited to public limited company would increase the reputation of the company. A public limited company is allowed to list its shares in the public stock exchange. Automatically this process of listing the shares in the public stock exchange would increase the reputation of the company.
Hold a meeting of Board of Directors of the Company to consider and approve the proposal for conversion, subject to the approval of shareholders. To approve the draft new set of Memorandum and Articles of Association meeting the requirements of the Public Company.
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