A Unquoted Public Company is a type of business structure, typically found in India, that allows the public to acquire ownership shares of a company without the need for it to be formally quoted on the stock exchange. This type of company differs from a quoted public company (QPC) in that the latter is listed on a formal exchange, allowing investors to easily buy and sell shares. In contrast, unquoted public companies are generally not listed on any exchange, meaning investors must rely primarily on the company's stated financial performance or other reports to make an informed decision on whether to invest or not.

Unquoted public companies have very strict regulations by Indian law, requiring them to present their numbers to the public. The law also sets certain standards for the firm's governance and general operations, such as the requirement to maintain audited financial records and annual returns. Companies must also prepare prospectuses and other documents to disclose information to potential shareholders.

Such companies generally have a greater number of shareholders than most other business structures. This makes them attractive to investors who are looking to diversify their portfolio, as well as those who are seeking to spread their risk.

Furthermore, unquoted public companies offer more accountability, transparency and disclosure than other corporate structures. Shareholders are kept up-to-date on the current financial performance of the company and any significant changes in the direction of the company. This allows investors to make an informed decision about whether or not to invest in a particular unquoted public company.

Unquoted public companies are also cost-effective. They do not require the high costs associated with private or quoted public companies in terms of registration, promotion and trading on the stock market.

However, unquoted public companies also have some drawbacks. These include the potential for market manipulation, as the absence of a stock exchange allows unscrupulous individuals to buy and sell shares without the general public being aware. Similarly, the lack of a central exchange for trade means that any liquidation of shares must be conducted independently, which can lead to a lack of liquidity.

Overall, unquoted public companies can be an attractive option for investors, as they provide an opportunity to invest in publicly traded companies without the added expense of trading on the stock market. However, investors must be aware of the potential risks and drawbacks associated with such investments.