A Public Limited Company under Company Act 2013 is a company that has limited liability and offers shares to the general public. It's stock can be acquired by anyone, either privately through (IPO) initial public offering or via trades on the stock market. A Public Limited Company is strictly regulated and is required to publish its true financial health to its shareholders.
Section 2(71) of the Companies Act, 2013 states that a "Public Company" means a company which: -
Provided that a company which is a subsidiary of a company, not being a private company, shall be deemed to be public company for the purposes of this Act even where such subsidiary company continues to be a private company in its articles ;