B.A.G.Convergence Limited
Bookbuilding IPO · NSE
- Price band
- ₹82 - ₹87
- Lot size
- 1,600 shares
- Issue amount
- ₹48.72 cr
- Total subscription
- 1.45×
- Opens
- 30 Sept 2025
- Closes
- 3 Oct 2025
- Allotment
- 6 Oct 2025
- Listing
- 8 Oct 2025
Offer at a glance
Issue overview
- Issue size
- 56,00,000 shares
- Face value
- ₹10 per share
- Minimum investment
- ₹1,31,200
- Fresh issue
- ₹48.72 cr
- Offer for sale
- ₹0 cr
- Registrar
- Maashitla Securities Private Limited
- Listing exchange
- NSE
- Maximum investment
- ₹1,39,200
- Issue type
- Bookbuilding IPO
- Shares before issue
- 1,56,18,800
- Shares after issue
- 2,12,18,800
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 2 | 3,200 | ₹2,78,400 |
| sHNI | 3 | 4,800 | ₹4,17,600 |
| bHNI | 8 | 12,800 | ₹11,13,600 |
Share reservation
Subscription & GMP
Subscription by category
Reported 3 Oct 2025
GMP history
Day-wise demand
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| RETAIL | 590 | 488 |
| HNIs(10L +) | 116 | 68 |
| HNIs (2-10L) | 58 | 28 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 9.05 | 12.51 |
| FIIs | 0 | 9.05 |
| Others | 0 | 3.47 |
| RETAIL | 16.43 | 13.59 |
| HNIs 2+ | 2.41 | 1.49 |
| HNIs 10+ | 4.83 | 19.98 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|
| EPS | 5.82 | 5.42 | 3.36 |
| ROE | 0 | 0 | 0 |
| ROCE | 0 | 0 | 0 |
| RONW | 40.96 | 112.94 | 0 |
| PRE IPO(PE) | 14.45 | 0 | 0 |
| POST IPO(PE) | 19.62 | 0 | 0 |
Values and labels as reported in the issue data.
Peer comparison
| Company | P/E(X) | CMP* (₹) | Face value (₹) | NAV/Share (₹) | RONW(%) | EPS (Basic) (₹) |
|---|---|---|---|---|---|---|
| Tv Today Network Ltd. | 11.98 | 150.2 | 5 | 149.44 | 9.28 | 9.28 |
| B.A.G. Convergence Limited | NA | NA | 10 | 32.11 | 40.96 | 40.96 |
| Zee Media Corporation Limited | -7.83 | 12.52 | 1 | 6.83 | -23.5 | -23.5 |
Company information
Company profile
B.A.G. Convergence Limited, founded in April 2007, provides technical support and production services for TV channels and websites. It launched its first site, news24online.com, the same year and creates video content for platforms like YouTube, Facebook, and Instagram. The company also partners with Samsung to offer its apps on Connected TVs. Its services include AI-driven content solutions, cloud-based broadcasting, high-definition and 4K video production, and content for OTT streaming platforms. As of August 31, 2025, B.A.G. Convergence had 87 employees across different departments.
Strengths
- Market Leadership: News24 and E24 are leading channels in news and entertainment, with strong reach in Hindi-speaking regions and growing presence on YouTube, Facebook, and Instagram.
- Experienced Team: Led by Anuradha Prasad Shukla, a media veteran with 30+ years of experience, supported by a stable and skilled management team ensuring quality service and execution.
- Strategic Partnerships: Collaborations with Dailyhunt, Times Internet, Taboola, Facebook, Google, and others, along with Samsung CTV and OTT discussions, enhance reach and content monetization.
Risk factors
- Legal Risks: Ongoing litigations involving the Company and Group Companies may lead to liabilities or penalties, affecting business and financial performance.
- Growth Challenges: Inability to boost viewership, adopt new platforms, or leverage technologies like AI/VA could limit revenue growth and impact financial outcomes.
- Expansion Risks: Delays or issues in planned business expansion may slow growth and negatively affect operations and future plans.
Promoters
Anuradha Prasad Shukla
Registrar & documents
Lead manager
Inventure Merchant Banker Services Private Limited
Registrar & contacts
Maashitla Securities Private Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
352, Aggarwal Plaza Plot No. 8, Kondli East Delhi, New Delhi, 110096
+91 120 4602424
[email protected]Company website ↗Understanding BAGDIGITAL IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.