IPO Details

Bidding Dates

30 Sep '25 - 03 Oct '25

Minimum Investment

₹2,78,400/ 2 Lots (3,200 Shares)

Price Range

₹82 -₹87

Maximum Investment

₹2,78,400/ 2 Lots (3,200 Shares)

Retail Discount

To be announced

Issue Size

₹48.72 Cr

Investor category and sub category

Retail Individual Investors (RII)  |   Non-institutional Investors (NII)  |   Qualified Institutional Buyers (QIB)   |  

B.A.G. Convergence IPO Important Dates

Important dates with respect to IPO allotment and listing

IPO Opening Date

Sep 30, 25

IPO Closing Date

Oct 03, 25

Basis of Allotment

Oct 06, 25

Initiation of Refunds

Oct 07, 25

IPO Listing Date

Oct 08, 25

B.A.G.Convergence IPO Subscription Details

DateQIBNIIRetailTotal

Day 1Sep 29, 2025

 0.00 0.97 0.10 0.26

Day 2Sep 30, 2025

 0.00 0.63 0.10 0.19

About B.A.G.Convergence IPO

B.A.G.Convergence Limited is launching its IPO through the book-building route with an issue size of ₹48.72 crore. The issue comprises a fresh offering of 0.56 crore equity shares, amounting to ₹48.72 crore in total. The IPO will open for subscription on September 30, 2025, and will close on October 3, 2025.

The allotment of shares is likely to be finalised on October 6, 2025, with a tentative listing date set for October 8, 2025, on the NSE SME platform. The price band for the B.A.G.Convergence IPO has been fixed at ₹82 to ₹87 per share.

The minimum application size is 1,600 shares. For retail investors, the minimum investment requirement stands at ₹2,78,400 for 3,200 shares, based on the upper price band. For HNI investors, the minimum application size is 3 lots, translating into 4,800 shares and an investment of ₹4,17,600.

Inventure Merchant Banker Services Private Limited is serving as the book running lead manager for the issue, with Maashitla Securities Private Limited acting as the registrar. ACME Capital Market Limited. is the market maker for the IPO.

B.A.G.Convergence IPO Objectives

The company plans to allocate the net proceeds from the issuance to the following purposes:

  1. The company plans to use part of the proceeds to expand the existing business to strengthen overall operations and growth.
  2. Funds will also be used for acquisition and production of content to increase offerings and market presence.
  3. Part of the proceeds will be used for brand building expenses to improve visibility and recognition among customers.
  4. The remaining funds will be used for general corporate purposes to support day-to-day business needs and flexibility.

About B.A.G.Convergence Limited

B.A.G. Convergence Limited is a growing digital media and technology company that began its journey in 2007 with the launch of its first platform, news24online.com. To reach a wider audience, a Hindi version, hindi.news24online.com, was introduced soon after. The company also expanded into the entertainment space with e24bollywood.com, offering Bollywood-related news and updates.

Initially, the company relied on Google AdSense for revenue. Over time, collaborations with content aggregators like Times Internet Limited, Daily Hunt, and direct government clients added new income streams and helped in building brand recognition. With the rise of mobile internet and Google’s mobile-first indexing, the company shifted its focus from desktop to mobile platforms. It also developed apps such as News24 and E24 to provide a personalised experience.

The transition from 2G to 5G has further enabled the creation of mobile-friendly and interactive content. B.A.G. Convergence is expanding into regional markets, especially in Hindi-speaking areas, where video content demand is high. To meet this, the company actively produces videos for its own platforms and social media channels including YouTube, Facebook, Instagram, and X.

In 2024, the company entered the Connected TV space through a partnership with Samsung India Electronics Pvt. Ltd., making its channels accessible via Samsung TV Plus.

Today, B.A.G. Convergence focuses on delivering authentic and engaging digital content across categories such as current affairs, sports, infotainment, technology, automobiles, health, and spirituality, while leveraging SEO, app optimisation, and social media marketing to strengthen its reach.

Industry Outlook

  1. The Indian media & entertainment industry is projected to grow from INR 2.32 lakh crore in 2023 to INR 3.08 lakh crore by 2026, driven by digital media expansion and increasing internet penetration. This growth offers B.A.G.Convergence Limited a larger market for digital content and advertising services.
  2. Digital media is expected to surpass traditional television by 2024, reaching INR 95,500 crore with a CAGR of 13.5% by 2026. This trend supports B.A.G.Convergence Limited’s focus on digital platforms, mobile apps, and OTT content, enhancing audience reach.
  3. Advertising is a key driver, contributing 55% of industry growth in 2023, with internet advertising growing 10.1%. Programmatic, social media, and video ads are increasingly used. This creates opportunities for B.A.G.Convergence Limited to expand ad revenue and collaborate with brands for digital campaigns.
  4. By 2026, the global advertising market is projected to exceed INR 1 trillion, with India’s internet advertising growing at 9.5% CAGR. B.A.G.Convergence Limited can leverage this growth through influencer marketing, interactive ads, and partnerships on platforms like YouTube, Facebook, and Instagram.

How To Apply for the B.A.G.Convergence IPO Online?

  1. Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
  2. Locate the IPO Section: Navigate to the 'IPO' section on the platform.
  3. Select IPO: Find and select the B.A.G.Convergence IPO from the list of open IPOs.
  4. Enter the Lot Size: Specify the number of lots you want to bid for.
  5. Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
  6. Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.

How To Check the Allotment Status of B.A.G.Convergence IPO?

Steps to check IPO allotment status on Angel One’s app:

  1. Log in to the Angel One app.
  2. Go to the IPO Section and then to IPO Orders.
  3. Select the individual IPO that you had applied for and check the allotment status.
  4. Angel One will notify you of your IPO allotment status via push notification and email.

Contact Details of B.A.G.Convergence Limited

Registered office: 352, Aggarwal Plaza, Plot No. 8, Kondli, East Delhi, New Delhi -110096, India

Phone: +91 120 6354200

E-mail:kriti.jain@bagconvergence.in 

B.A.G.Convergence IPO Reservation

Investor Category

Shares Offered

Market Maker Shares

2,80,000 (5.00%)

QIB Shares

26,00,000 (46.43%)

NII (HNI) Shares

8,32,000 (14.86%)

Retail Shares

18,88,000 (33.71%)

Total Shares

56,00,000 (100.00%)

B.A.G.Convergence IPO Lot Size Details

Application

Lots

Shares

Amount

Individual investors (Retail) (Min)

2

3,200

₹2,78,400

Individual investors (Retail) (Max)

2

3,200

₹2,78,400

S-HNI (Min)

3

4,800

₹4,17,600

S-HNI (Max)

7

11,200

₹9,74,400

B-HNI (Min)

8

12,800

₹11,13,600

B.A.G.Convergence IPO Promoter Holding

The promoter of the company is Anuradha Prasad Shukla.

Share Holding Pre-Issue

89.58%

Share Holding Post Issue&nbsp

65.93%

Note: Equity dilution will be determined by subtracting the Shareholding Post Issue from the Shareholding Pre Issue.

B.A.G.Convergence IPO Anchor Investors Details

Bid Date

September 29, 2025

Shares Offered

15,60,000

Anchor Portion Size (In ₹ Cr.)

13.57

Anchor lock-in period end date for 50% shares (30 Days)

November 5, 2025

Anchor lock-in period end date for remaining shares (90 Days)

January 4, 2026

Key Performance Indicators for B.A.G.Convergence IPO

KPI

Value

Price to Book Value

18.13

Debt/Equity&nbsp

0.57

RoNW (%)

40.96

PAT Margin (%)

25.37

EBITDA Margin (%)

39.04

B.A.G.Convergence IPO Prospectus

B.A.G.Convergence IPO Registrar and Lead Managers

B.A.G.Convergence IPO Lead Managers

  • Inventure Merchant Banker Services Private Limited

Registrar for B.A.G.Convergence IPO

Maashitla Securities Private Limited

B.A.G.Convergence IPO Registrar: https://maashitla.com/allotment-status/public-issues

Financial Performance of B.A.G.Convergence Limited

Particulars Year ending on March 31, 2025 Year ending on March 31, 2024 Year ending on March 31, 2023
Revenue from Operation (in ₹ lakh) 3,563.35 2,991.71 2,477.80
Profit/loss After Tax (in ₹ lakh) 940.66 805.23 499.02
Earnings per Share 5.82 5.42 3.36
Net Worth (in ₹ lakh) 2,220.91 711.20 (92.01)
Reserves and Surplus (in ₹ lakh) 659.03 710.19 -
Return on Net Worth (RoCE) (%) 40.96 112.94 -
EBITDA (in ₹ lakh) 1,399.46 1087.95 649.37

Know before investing

Strengths

8

  1. News24 and E24 lead in news and Bollywood entertainment, reaching diverse audiences nationwide.

  2. Experienced promoter Anuradha Prasad Shukla brings over three decades of media expertise.

  3. Strong senior management team ensures high-quality content and effective operational strategies.

  4. Strategic partnerships with platforms like Dailyhunt, TIL, Taboola, Facebook, and Google expand reach.

  5. News24 Sports grew to 3.99 million YouTube subscribers and 5.5 million Facebook followers.

  6. Investment of ₹1,348.96 lakh planned for digital technology and content creation upgrades.

  7. IPO proceeds of ₹1,329.48 lakh allocated for content acquisition and production expansion.

  8. Expansion into OTT and CTV platforms provides wider distribution and increased audience engagement.

Risks

8

  1. Legal proceedings could result in liabilities, affecting business and financial condition.

  2. Failure to adapt to changing technology like AI or VA may reduce revenue.

  3. Content development is costly and uncertain, with FY 2025 expenses of ₹981.21 lakh.

  4. Delays in business expansion using ₹1,348.96 lakh IPO proceeds could impact growth.

  5. Heavy dependence on News24 and E24 brands may affect profitability if viewership declines.

  6. Reliance on third-party aggregators like YouTube and Google could impact revenue and operations.

  7. Loss of key personnel, including Promoter Anuradha Prasad Shukla, may disrupt business.

  8. High dependence on limited customers may reduce revenue if demand from major clients falls.

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B.A.G.Convergence Limited Peer Comparison

Company Name EPS (Basic) NAV (per share) (₹) P/E (x) RoNW (%)
B.A.G. Convergence Limited 5.82 32.11 14.95 40.96
Tv Today Network Ltd. 12.54 149.44 11.98 9.28
Zee Media Corporation Limited -1.60 6.83 -7.83 -23.50

B.A.G.Convergence IPO FAQs

What is the B.A.G.Convergence IPO?

B.A.G.Convergence IPO is a book-built issue IPO. It runs from September 30, 2025, to October 3, 2025. 

When will the B.A.G.Convergence IPO be allotted?

The Basis of Allotment will happen on Monday, October 6, 2025.  

When will the B.A.G.Convergence IPO open for subscription?

The IPO subscription window will open on September 30, 2025. 

What minimum lot size can retail investors subscribe to?

The minimum lot size retail investors can subscribe to is 2 lots, and the lot size is 3,200 shares. 

When will the B.A.G.Convergence IPO list on exchanges?

The listing date for B.A.G.Convergence IPO is Wednesday, October 8, 2025. 

What is the issue size of the B.A.G.Convergence IPO?

The issue size of the B.A.G.Convergence IPO is ₹48.72 crore.

What are the open and close dates of the B.A.G.Convergence IPO

The open and close dates for B.A.G.Convergence IPO are from September 30, 2025, to October 3, 2025.

What would be the listing gains on the B.A.G.Convergence IPO?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange. 

When will I know if my B.A.G.Convergence IPO order is placed?

You will receive a notification once your order is successfully placed with the exchange after the bidding starts. 

Who is the registrar of B.A.G.Convergence IPO?

Maashitla Securities Private Limited is the registrar responsible for managing the IPO allotment process and handling investor queries. 

Where is the B.A.G.Convergence IPO getting listed?

The B.A.G.Convergence IPO is proposed to be listed on the SME platform of the National Stock Exchange (NSE). 

How to increase your chances of getting a B.A.G.Convergence IPO allotment?

  1. Multiple Submissions: Use different Demat accounts to make multiple applications.
  2. Higher Price Band Bidding: Opt for bidding at the cut-off price or higher price band.
  3. Timely Subscription: Ensure you subscribe to the IPO within the specified time frame.

How do I approve the UPI mandate request for the B.A.G.Convergence IPO?

You must complete the payment process by logging in to your UPI handle and approving the payment mandate. 

Can I submit more than one application for the public issue of B.A.G.Convergence IPO using one PAN?

You can submit only one application using your PAN card. 

How to read B.A.G.Convergence Limited's financial statements?

To read B.A.G.Convergence Limited’s financial statements, download the IPO’s RHP document. 

What is 'pre-apply' for the B.A.G.Convergence IPO?

Pre-apply allows investors to apply for the B.A.G.Convergence IPO two days before the subscription period opens, ensuring an early submission of your application. 

If I pre-apply for the B.A.G.Convergence IPO, when will my order get placed?

Your order will be placed when the IPO opens for bidding, and a UPI request will follow within 24 hours.