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A public company is a company which is not a private company and has the right to invite the public to subscribe to its securities, subject to the provisions of the Companies Act, 2013. Under Section 2(71) of the Companies Act, 2013, a public company means a company which is not a private company and has a minimum paid-up share capital as may be prescribed. A public company generally requires at least seven members and at least three directors. Its shares are ordinarily freely transferable, and it may raise capital from the public through an offer of securities in accordance with law. A public company may convert itself into a private company when its members and management ________ ____ ____ ___ __________ _________ _______ __________.
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