For incorporating a private limited company there needs to be a minimum of two members and two directors. To apply for conversion of OPC to a private limited company,

The Conversion of LLP to Private Limited Company is to access to equity funding and enhanced credibility. While an LLP (Limited Liability Partnership) offers flexibility and tax advantages, it is often limited in terms of raising capital.

Medium to large-sized and capital-intensive businesses that require larger capital find it favorable to convert a Pvt Limited Company into a Public Ltd Company.

The sole proprietorship cannot receive all the benefits of the operation as it grows. There will therefore be a need to convert the company into a private limited company.