Conversion of Private Limited company to Public Limited Company

Benefits of functioning as Public Limited Company has been mentioned in Incorporation of Public company article.

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Required documents

  • Identity proof of all Directors.
  • Address proof of all Directors.
  • Passport size photographs of all Directors.
  • Where the premises are owned, the property papers.
  • Where the premises are on a rental basis.
  • No Objection Certificate from the owner.
  • Rent Agreement
  • Copy of utility bills (Not more than two months old)
  • Certified copy of the latest financial statements.
  • Copy of the latest Income Tax Return Acknowledgement.
  • Digital Signature Certificates (DSC) of all Directors.
  • Director Identification Number (DIN) of all Directors.

Requirements for conversion

  • Minimum 7 Shareholders
  • Minimum Authorized Share Capital of Rs 5lacs
  • Director and shareholder can be the same person
  • Minimum 3 Directors

Procedure for Conversion

The guidance for conversion procedure has been given in Companies (Incorporation) Rules, 2014.

Board Meeting: Board meeting has to be conducted for

  • Adoption of a new/amended Memorandum of Association (MOA).
  • Adoption of a new/amended Articles of Association (AOA).
  • Conversion of the private limited company into a public limited company.

Approval for conducting an EGM and the subsequent authorisation of a person to be in charge of circulation of the notice regarding the EGM.

The date, time and place for the EGM has to be fixed as well.

Passing of a Board Resolution for the increase in the number of directors, as a public limited company would mandate a minimum of 3 directors as per the provisions under Section 149(1)(a) of the Companies Act 2013.