We are a Private Company and keen to convert the same into Public Company. I wanted to know few things before going through the procedure.
1. As a Public Company can we raise Non-convertible debentures and if so is it necessary to form a Trust?
2. We are starting a Public company with a very low paid up capital of Rs. 10lacs so obviously we won't be a listed company, so whats the procedure for unlisted company to sell shares?
3. Also please suggest any other important suggestion which may be useful for us.
15 November 2012
Yes for Debentures which are non convertible you have to form a Trust. Till you go to the Public for IPO you can keep any amount as your capital and SEBI or Stock Exchange rules and regulations are not applicable provided it is a closely held company
CAclubindia
