Incorporating a Public Limited Company is a suitable option for large scale businesses that require huge capital. There should be a minimum of seven members with no limit on the maximum number of members/shareholders for starting a Public Limited Company.
Usually, Public Limited Companies get listed with stock exchanges to raise capital from the general public. Therefore, Public Limited Companies have to comply with multiple regulations of the government, and starting a public limited company becomes a cumbersome process.
WHAT IS A PUBLIC LIMITED COMPANY?
A Public Limited Company is defined under Section 2(71) of the Companies Act, 2013 as:
a company which is not a private company
a company with a minimum paid-up share capital of INR 5 lakhs.