An entity can be incorporated under three classes in the form of Company i.e. as a one person company, Private limited Company or a Public Limited Company. Public limited companies can be further classified as listed or unlisted public company. To commence business as a private limited company is beneficial at initial stage as administration and management of a private limited company is less cumbersome than public limited company. However, owners of private limited company may convert their company into a public limited company if they consider it fit for their business and further expansion.