Equity shares form the bulk of the capital of a public company. A public company is a type of business that is owned by shareholders and is traded on stock exchanges. The shareholders own equity shares in the company, which represent a claim on the company's profits and assets. These equity shares are used to raise capital for the company, and they form the bulk of the company's financing. In simple terms, a public company is financed primarily through the sale of equity shares to the public.