Conversion of Private Limited Company into Public Limited Company

On average it takes 1-2 months of time for completion of conversion. However, this is dependent on the workload of the government authorities.

There is no such requirement, all the required documents are filed electronically, so you would not need to be physically present. You would just need to send us scanned copies of all the required documents and forms.

Existing members of Private Limited Company whether individual or a body corporate shall become the member/shareholder of the private limited.

There should be minimum of 7 members for conversion of Private Limited Company into Public Limited Company.

The existing directors/shareholders of Private Limited Company may become directors in the Public Limited Company on conversion.

Yes, a Private Limited Company with secured loan may convert itself into Public Limited Company after obtaining No Objection Certificate (NOC) from such creditor.

There is no upper limit on the number of members/shareholder but there can be maximum of 15 directors in Public Limited Company, for further increase special approval of shareholder is required.

Yes, consent of majority of members is mandatory for conversion of Private Limited Company into Public Limited Company.

Yes, a public limited company should get its book audited and file the same with the Registrar of Companies (ROC) every year.

Yes, after conversion you can bring an initial public offering (IPO) and issue shares to the public by complying with the procedure prescribed under law and regulations issued by SEBI

Yes, you need to hold the equity share of an unlisted public limited company in dematerialized form only. All unlisted public companies are obliged to get their shares converted into Demat form.

A Public Limited Company shall have to file a reconciliation of the share capital audit report on half yearly basis to the ROC, it is also required to file board resolutions and general meeting resolutions to the concerned ROC. The eligible public company also needs to follow provisions related to Independent Director, rotation of auditors, appointment of KMP etc. apart from regular annual compliances.