The Indian Media and Entertainment landscape has witnessed a massive growth backed by rapid digitisation and consumer-driven content. From a valuation of INR 2.32 lakh crore in 2023, it is expected to hit INR 3.08 lakh crore by 2026. Moreover, reports suggest that 75% of Indian internet users prefer local language content. This growing participation has contributed to a CAGR projection of 13.5% by 2026 for the digital media sector, reaching INR 95,500 crore. Subsequently, internet advertising is projected to have a CAGR of 9.5% by 2028 in India.
B.A.G. Convergence Limited is a key player in the Indian digital media market. Incorporated in 2007, it publishes news and other entertainment pieces in various languages through distinct portals. The company is now creating headlines with its ₹48.72 Crore B.A.G. Convergence IPO. Continue reading for a complete B.A.G. Convergence IPO analysis.
B.A.G. Convergence IPO Details
Here is a snapshot of key B.A.G. Convergence IPO details, including the B.A.G. Convergence IPO price, date, size, and more.
| IPO Start Date | 30 September 2025 |
| End Date | 03 October 2025 |
| Face Value | ₹10 per share |
| Price Band | ₹82 to ₹87 Per Share |
| Issue size | ₹48.72 Cr |
| Lot size | 1,600 Shares |
| Sale Type | Fresh capital |
| Offer for Sale | NA |
| Fresh Issue | ₹48.72 Cr |
| Issue Type | Bookbuilding |
| Listing At | NSE SME |
| Total Issue Size (₹ Cr) | ₹48.72 Cr |
| Reserved for Market Maker | ₹2.44 Cr |
| Net Offered to Public | 53,20,000 shares |
| Minimum Investment | ₹2,78,400 |
| Retail Discount | NA |
B.A.G. Convergence IPO Timeline
To plan your IPO investment accurately, some of the B.A.G. Convergence IPO details are non-negotiable. Understanding the timeline and accurate timing is among them.
| IPO Open Date | 30 September 2025 |
| IPO End Date | 03 October 2025 |
| Allotment (tentative) | 06 October 2025 |
| Initiation of Refunds | 07 October 2025 |
| Credit of Shares | 07 October 2025 |
| Tentative Listing Date | 08 October 2025 |
| Cut-off Time for UPI Mandate Confirmation | 03 October 2025 (5 PM) |
B.A.G. Convergence IPO Grey Market Premium (GMP)
Below is a discussion on the B.A.G. Convergence IPO GMP today. Gaining a grasp of the B.A.G. Convergence SME IPO GMP today will help you comprehend how the IPO is received by the market.
| Date | GMP (₹) | Estimated Listing Price |
| 26 Sept 2025 | ₹0 | ₹87 |
B.A.G. Convergence IPO Reservation
Examine the proportion of the B.A.G. Convergence IPO lot size that is set aside for various investor types after looking at the price, timing, and many other facts.
| Category | %Shares Offered |
| Market Maker | 2,80,000 (5.00%) |
| QIB | 26,00,000 (46.43%) |
| NII | 8,32,000 (14.86%) |
| Retail Shares Offered | 18,88,000 (33.71%) |
| Total | 56,00,000 (100%) |
B.A.G. Convergence IPO Key Performance Indicators
Analysis of the financial health using key performance indicators (KPIs), such as ROE, RoNW, etc., is necessary for a thorough B.A.G. Convergence IPO review.
| Particulars | Fiscal 2025 | Fiscal 2024 | Fiscal 2023 |
| ROE | 42.34 | 113.22 | – |
| ROCE | – | – | – |
| Debt to Equity Ratio | 0.57 | 0.00 | 0.00 |
| RoNW | 40.96% | 112.94% | NA |
| PAT Margin | 25.37% | 26.48% | 19.95% |
| EBITDA Margin | 39.04% | 35.87% | 26.02% |
| EPS | 5.82 | 5.42 | 3.36 |
B.A.G. Convergence IPO Financials
Key financial variables must also be fundamentally analysed to conduct an optimal study of the B.A.G. Convergence share price and other market information. Some of these are discussed below.
| Particulars | 31.03.25 | 31.03.24 | 31.03.23 |
| Revenue | 3,585.14 | 3,032.82 | 2,495.70 |
| Total Asset | 4,384.22 | 1,833.12 | 1,156.62 |
| Profit | 909.71 | 803.21 | 497.81 |
(Amount in ₹ Lakhs)
B.A.G. Convergence IPO Lot Size
The next parameter of analysing the B.A.G. Convergence IPO details India is the lot size.
| Application | Lot Size | Shares | Amount(in ₹) |
| 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
Discussed in this section are the post-issue promoter shareholdings vs the pre-issue promoter shareholdings of the B.A.G. Convergence.
| Promoter Holding Pre-Issue | 89.58% |
| Promoter Holding Post Issue | 65.93% |
The promoter of B.A.G. Convergence Limited is Anuradha Prasad Shukla.
B.A.G. Convergence IPO Anchor Investors Details
Discussed below are the anchor investor details of the B.A.G. Convergence IPO.
| Bid Date | 29 September 2025 |
| Shares Offered | 15,60,000 |
| Anchor Portion Size (In Cr.) | 13.57 |
| Anchor lock-in period for 50% shares (30 Days)ends on | 5 November 2025 |
| Anchor lock-in period for remaining shares (90 Days) ends on | 4 January 2026 |
B.A.G. Convergence IPO Prospectus
A thorough examination of the offer documents, presented below, is necessary to comprehend the B.A.G. Convergence IPO GMP and market performance.
About B.A.G. Convergence
Operating since 2007, B.A.G. Convergence Limited creates digital media through websites, social media and apps. The company began with news24online.com, which publishes news updates. Soon, it tapped into the Hindi audience through hindi.news24online.com. The company even covers the entertainment space by covering Bollywood news and updates. The table below shows its website and app verticals.
| Website | ||
| Name | Launch Date | Offering |
| News24 | 14/10/2007 | News in English |
| News24 Hindi | 14/10/2007 | News in Hindi |
| E24 | 25/01/2008 | Bollywood News |
| Apps | ||
| News24 | 16/04/2021 | |
| E24 | 02/12/2019 | |
Initially, the company depended on ad revenue through Google AdSense. However, it soon built partnerships with content aggregators like Times Internet Limited, DailyHunt, etc. Below are its revenue verticals.
| Particulars (Revenue as of 31.3.25) | Amount | % of Revenue |
| Domestic Sales of Digital Services | 2,784.03 | 78.13 |
| Income in foreign currency through digital services | 779.32 | 21.87 |
The company operates around 20 social media accounts. Moreover, it utilises SEO for websites, App optimisation and other endeavours to ensure continued growth in this dynamic space.
Objectives of the B.A.G. Convergence IPO
B.A.G Convergence Limited aims to utilise its IPO proceeds in the following ways.
| Particulars | Amount (₹ Lakhs) |
| Expansion of Business | 1348.96 |
| Producing or Acquiring Content | 1329.48 |
| Brand Building | 500.00 |
| Other corporate needs | Undisclosed |
Strengths Of B.A.G. Convergence IPO
- Leadership Position: While E24 keeps viewers amused with the newest celebrity rumours, interviews, and movie updates, News24 is renowned for its timely, trustworthy news coverage at both the national and regional levels, with a significant presence in Hindi-speaking regions.
- Experienced Management Team: With more than three decades of expertise in the media industry, the promoter Anuradha Prasad Shukla has worked with brands like PTI. These deep industry insights of the promoter, backed by strategic growth, aided by the management team, are key to the company.
- Partnership: The company has not only built relationships with leading corporates like Times Internet Limited, Facebook, Google, Infotech Private Limited, etc, but also with OTT platforms, aiding growth.
Risk of B.A.G. Convergence IPO
- Legal Measures: Legal proceedings are being taken against the corporation and its group. In some cases, a negative decision could adversely impact the financials and operations of the company.
- Media Industry is Dynamic: Expanded digital infrastructure and longer focus groups are needed to create material for numerous sectors. Any mismatch might result in missed opportunities, resource waste, and ineffective solutions.
- Intrinsic Nature of Business: The process of creating content is expensive, complex, and time-consuming, and it takes a long time to see a return on investment.
- Delay in Expansion: Any delay or inability to develop the present company successfully might have an impact on the company’s growth, which in turn could have an impact on its financial situation, operations, and future business plans.
Final Takeaway
B.A.G. Convergence Limited operates in a lucrative market, which is positioned for rapid growth as content consumption increases manifold, especially with the introduction of short-form content. The company has shown its capability to adapt to a dynamic business environment. However, it is a continuous process, and there are certain key risks. Investors must optimally analyse the offer documents before making any decision.
Other Recent IPO List
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FAQs
B.A.G. Convergence Limited is a digital media company. The IPO opens on 30 September 2025 and closes on 3 October 2025. With a total issue size of ₹ 48.72 Crores, the IPO only has a fresh issue.
You can apply for the B.A.G. Convergence IPO through the Zerodha website or app by following these steps. First, log in to the Zerodha website or app, go to ‘bids’, select ‘B.A.G. Convergence IPO’, and click on ‘apply’. Next, pick the number of lots to apply, submit the form, and make a payment.
The B.A.G. Convergence IPO will open on 30 September 2025 for application. The UPI mandate cut-off is at 5 PM on the closing date, that is, 3 October 2025.
The B.A.G. Convergence IPO lot size is 1,600 Shares. Moreover, the issue price range is ₹82 to ₹87 per share. Therefore, a retail investor will require at least ₹2,78,400 to invest in the IPO.
Investment in the B.A.G. Convergence cannot be executed without a demat account. Therefore, investors must first open a demat account with a reliable platform. Then enter the quantity of shares to invest in, once the B.A.G. Convergence IPO opens. Make the payment to submit the bid.
B.A.G. Convergence IPO opens on 30 September 2025 for bids. It closes on 3 October 2025. Therefore, the tentative allotment date is 6 October 2025.
The tentative listing date for the B.A.G. Convergence IPO is 8 October 2025, that is, Wednesday.
