B.A.G. Convergence Ltd
Complete IPO details, including price band, financials, subscription status, and key insights.
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IPO Snapshot
Key metrics and details at a glance.
Price Band
₹87
Per ShareLot Size
1600 Shares
Minimum Investment
₹1,39,200
Issue Size
₹48.72 Cr
Face Value
₹10
Per ShareIPO Type
Book Building - SME
Retail Quota
35.49%
QIB Quota
48.87%
NII Quota
15.64%
IPO Timeline
Important dates for your applying strategy.
Subscription Status
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
B.A.G. Convergence Ltd
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
89.58%
Promoter Holding (Post-Issue)
65.93%
Issue Type
Book Building - SME
ISIN
INE17CQ01015
About the Company
Our Company was founded with the vision of becoming a key player in the digital media space. Started its journey in 2007 with the launch of our first website, news24online.com. Soon after, we introduced a Hindi version, hindi.news24online.com, to cater to a wider audience. Expanding into the entertainment space, we launched e24bollywood.com, covering Bollywood news and updates. In the beginning, we relied on Google AdSense for ad revenue, but as we grew, content aggregators like TIL, Daily hunt and direct clients including government agencies helped us generate additional income and build our brand recognition over a period.
Industry Overview
Strong economic growth in the first quarter of FY23 helped India overcome the UK to become the fifth-largest economy after it recovered from the COVID-19 pandemic shock. Nominal GDP or GDP at Current Prices in the year 2023-24 is estimated at Rs. 295.36 lakh crores (US$ 3.54 trillion), against the First Revised Estimates (FRE) of GDP for the year 2022-23 of Rs. 269.50 lakh crores (US$ 3.23 trillion). The growth in nominal GDP during 2023-24 is estimated at 9.6% as compared to 14.2% in 2022-23. Strong domestic demand for consumption and investment, along with Government's continued emphasis on capital expenditure are seen as among the key driver of the GDP in the second half of FY24. During the period April-June 2025, India's exports stood at US$ 109.11 billion, with Engineering Goods (25.35%), Petroleum Products (18.33%) and electronic goods (7.73%) being the top three exported commodity. Rising employment and increasing private consumption, supported by rising consumer sentiment, will support GDP growth in the coming months. Future capital spending of the government in the economy is expected to be supported by factors such as tax buoyancy, the streamlined tax system with low rates, a thorough assessment and rationalisation of the tariff structure, and the digitization of tax filing. In the medium run, increased capital spending on infrastructure and asset-building projects is set to increase growth multipliers. The contact-based services sector has demonstrated promise to boost growth by unleashing the pent-up demand. The sector's success is being captured by a number of HFIs (High-Frequency Indicators) that are performing well, indicating the beginnings of a comeback. Real GDP or GDP at Constant (2011-12) Prices in the year 2023-24 is estimated at Rs. 173.82 lakh crores (US$ 2.08 trillion), against the First Revised Estimates (FRE) of GDP for the year 2022-23 of Rs. 160.71 lakh crores (US$ 1.92 trillion). The growth in real GDP during 2023-24 is estimated at 8.2% as compared to 7.0% in 2022-23. There are 113 unicorn startups in India, with a combined valuation of over US$ 350 billion. As many as 14 tech startups are expected to list in 2024 Fintech sector poised to generate the largest number of future unicorns in India. With India presently has the third-largest unicorn base in the world. The government is also focusing on renewable sources by achieving 40% of its energy from non-fossil sources by 2030. India is committed to achieving the country's ambition of Net Zero Emissions by 2070 through a five-pronged strategy, `Panchamrit'. Moreover, India ranked 3rd in the renewable energy country attractive index. The Indian Media and Entertainment (M&E) sector has demonstrated a remarkable recovery and transformation in the wake of the COVID-19 pandemic. The industry's resurgence has been fueled by 6. a combination of rapid digital growth, innovative advertising strategies, and consumer-driven content preferences. In this context, India, like China and Indonesia, is a growth hotspot as per the PwC Global Entertainment & Media Outlook 2023-2027: India perspective report. Further, as per the FICCI-EY Report (2024), the Indian M&E industry was valued at INR 2.32 lakh crore in 2023 and is projected to reach INR 2.55 lakh crore by the end of 2024. By 2026, the sector is expected to expand further, reaching an impressive INR 3.08 lakh crore.
Company History
Our Company was incorporated as B.A.G. Convergence Private Limited on April 11, 2007 under the Companies Act, 1956 with the Registrar of Companies, NCT of Delhi & Haryana at New Delhi bearing Registration number 161935. The status of the Company was changed to public limited and the name of our Company was changed to B.A.G. Convergence Limited vide Special Resolution dated August 29, 2024 pursuant to conversion of the Company into public limited Company. The fresh certificate of incorporation consequent to conversion was issued on September 12, 2024 by the Registrar of Companies, CPC of Delhi & Haryana. The Corporate Identification Number of our Company is U22121DL2007PLC161935.
Growth Strategy
- Expansion of Digital Channels and Platforms.
- Expansion of Brand News24 Sports.
- Bring more strength and value to existing websites and social media.
- Strengthening Internal Capabilities in Content, SEO, and Technology.
- Partnerships with OTT and CTV Platforms.
- Focusing on Video Content to Boost Engagement.
- To maintain a separate Digital Media Platform.
Financial Performance
Revenue, profit after tax and total assets across the last 3 reported financial years.
Revenue
Amount in ₹ crore
Profit After Tax (PAT)
Amount in ₹ crore
Total Assets
Amount in ₹ crore
Figures in ₹ crore, on a standalone basis, as reported for FY23 to FY25.
Objects of the Issue
How the company plans to utilize IPO proceeds.
Use of Proceeds
The funds raised through this IPO will be used for:
Initial public offering of up to 56,00,000* equity shares of Rs. 10 each ("Equity Shares") of B.A.G. Convergence Limited ("BAG Convergence" or The "Company") for cash at a price of Rs. 87 per equity share (The "Offer Price"), aggregating to Rs. 48.72 crores ("The Offer"). Of the offer, 2,80,000 equity shares aggregating to Rs. 2.44 crores will be reserved for subscription by market maker ("Market Maker Reservation Portion"). The offer less the market maker reservation portion i.e. offer of 53,20,000 equity shares of face value of Rs. 10.00 each at an offer price of Rs. 87.00 per equity share aggregating to Rs. 46.28 crores is hereinafter referred to as the "Net Offer". the offer and the net offer will constitute 26.39% and 25.07%, respectively of the post offer paid up equity share capital of the company. Price Band: Rs. 82/- to Rs. 87/- for equity share of face value of Rs. 10 each. The floor price is 8.20 times times the face value and cap price is 8.70 times of the face value of the equity shares. Bids can made for a minimum of 3,200 equity shares and in multiples of 1,600 equity shares thereafter.
*Subject to approvals and market conditions.
Strengths & Risks
Key competitive advantages and factors to consider before investing.
- Leadership position.
- Experienced promoter and senior management team.
- Our Partnerships.
- Our Company and Group Companies are involved in certain legal proceedings and potential litigations. Any adverse decision in such proceedings may render us/them liable to liabilities/penalties which may adversely affect our business, financial condition and results of operations.
- If we are unable to implement our growth strategy successfully including in relation to increasing viewership on our website and on other social media platforms such as YouTube, FaceBook, Instagram, X and other upcoming platforms including adopting changing technology such as AI and VA, thereby not being able to enhance our revenues, our results of operations and financial condition may be adversely affected.
- The process of content development is expensive, time-consuming, and uncertain.
- We propose to utilize a portion of our Net Proceeds towards expansion of existing business. Any delay or failure in successfully expanding our existing business may affect our business growth, thereby affecting our future business plans, business operations and financial conditions.
- Although we have entered into contracts and assignment agreements with our group companies / Promoters for use of their contents / Brands, however we are heavily dependent on the brand success of News24 and E24 and other channel partners, any loss of those businesses may impact our revenues and profitability also.