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Private Company to Public Company

A Public Company has at least seven individuals and can welcome the public to buy into its offers. An auxiliary organization of a Public organization is considered to be a Public organization. A Private organization is an association that restricts its number of individuals to 200 and can't welcome the public to buy into its offers. The Companies Act, 2013 accommodates changing a Public Company over to a Private Company by modifying the MOA and AOA of the organization. The fundamental benefit of a Public Company is that it can raise saves at an enormous scope without moving toward a banking framework and paying off past commitments while Private Companies which are exclusive, every one of the stores is raised by existing individuals, investors and advertisers. Assuming a Private organization opens up to the world, the danger is likewise divided between the investors. Public organizations once recorded, get circuitous advancements and backing through stock trade sites where their stocks are recorded.

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all you need to know
Private Company to Public Company

Raising capital through the open public of offers

The capacity to raise shares is the most advantageous factor of a public restricted organization. Particularly, on the off chance that it is recorded on a perceived stock trade market, it can pull in financial backers from flexible investments, shared assets, and so forth The measure of capital that can be raised is a lot more prominent than a private restricted organization.

Brand Awareness

At the point when the organization opens up to the world, it gets recorded in the stock trade and consequently, naturally more individuals become acquainted with about and its capacities, thus the expanded brand acknowledgment will bring more business.

Limited liability

The obligation of every investor or part is restricted. This trademark stays unblemished with this transformation. Their obligation is restricted to the degree of their shareholding. The individual or individual resources of investors or individuals are not in danger.

Adaptability of shares

Shares in a public restricted organization are effectively adaptable when contrasted with the private restricted organization. The investors can sell the offers and advantage from its liquidity. This goes about as an impetus for individuals to contribute as they not will undoubtedly stay with the organization until the end of time.

document required
Private Company to Public Company

1

Note

If there should arise an occurrence of NRI or Foreign National, records of the director(s) should be legally approved or apostilled

2

Business Address Proof

Electricity Bill/ Telephone Bill of the registered office address

3

NOC from owner

No Objection Certificate to be obtained from the owner(s) of registered office

4

Rent Agreement

Rent Agreement of the registered office should be provided, if any

5

Incorporation documents

Certificate of Incorporation, MoA & AoA to be provided

6

Financial Statements

Duly certified copy of latest audited Financial Statements

7

Income Tax Return

ITR filed for the previous financial year to be submitted

8

Photograph

Latest Passport size photograph of Shareholders and Directors

9

Address Proof

Telephone Bill /Electricity Bill/ Latest Bank Account Statement of Shareholders and Directors

10

Identity Proof

Voter ID/ Passport/ Driving License of Shareholders and Directors

11

PAN Card

PAN Card of shareholders and Directors. Foreign nationals must provide a valid passport.

steps involved in
Private Company to Public Company

Step 1 1-2 Days
  • Consultancy and assistance for conversion
  • Collection of basic information & documents
  • Application of DSC of a new director
Step 2 3-7 Days
  • Drafting of necessary resolutions
  • Drafting of other required documents & affidavit
  • Alteration of MoA & AoA
  • Provide documents required drafted after signature
Step 3 8-20 Days
  • Online filing of form for the alteration of MoA & AoA
  • Government processing time to approve the application
Step 4 21-30 Days
  • Online filing of form applicable for conversion
  • Government processing time to approve the application

Frequently Asked Questions
Private Company to Public Company

Time taken by LegalMark.in in changing over a Private Limited Company into Public Limited Company?

LegalMark.in can change over a Private Limited Company normally in 14-20 days. The time is taken additionally relies upon significant records given by the candidate and the speed of endorsements from the government. To guarantee expedient enrollment into Public Limited Company, kindly pick a special name for the proposed Company.

Are there some other installments to be made for joining authentication notwithstanding expense paid at the hour of transformation?

There is positively no other installment. We will send you a comprehensive receipt, with no secret charges.

Is it important to have 3 chiefs for Public Limited Company?

Indeed, you need at least 3 Directors for a Public Limited Company. If you are sole proprietor, you can enroll as a one Person Company.

Who can be a part in Public Limited Company?

Any individual/association can turn into an individual from the Public Limited Company including outsiders/NRI.

Regardless of whether change of name is needed for transformation?

The addition "Private Limited" will be supplanted with "Restricted." For this change, the organization needs to look for authorization from the investors and after that roll out the necessary improvements in the MoA to get it corrected.

How to modify MoA and AoA of the organization?

When the name endorsement letter is gotten from the ROC, the MoA and AoA are needed to be drafted. The name condition and capital provision are modified alongside the expulsion of limitation to Private Company as given by definition.

When can an organization start its business tasks as a Public Company?

The organization can begin its business tasks as a Public Company on receipt of the new Certificate of Incorporation from RoC.

What amount of time does it require to change over a Private Limited into a Public Limited Company?

LegalMark.in can help you convert your Private restricted into a Public Limited Company within 20-25 working days. The time taken for transformation will rely upon the accommodation of pertinent records by the customer and the speed of Government Approvals. To guarantee quick change, one ought to guarantee that every one of the necessary reports is submitted.

Regardless of whether a new GST enlistment is needed for the Public Limited Company?

No. As the organization's PAN subtleties stay the same, there is no need for new enrollment. Nonetheless, use of adjustment should be made for name change in records. LegalMark.in can assist you with applying change at an extra expense.

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Private Company to Public Company