B.A.G.Convergence IPO Details
| IPO Open Date | September 30, 2025 |
| IPO Close Date | October 3, 2025 |
| Face Value | ₹10 Per Equity Share |
| IPO Price Band | ₹82 to ₹87 Per Share |
| Issue Size | Approx ₹48.72 Crores |
| Fresh Issue | Approx ₹48.72 Crores |
| Issue Type | Book Built Issue |
| IPO Listing | NSE SME |
| DRHP Draft Prospectus |  |
| RHP Draft Prospectus | |
B.A.G.Convergence IPO Review & Key Points
- Review:
B.A.G.Convergence IPO Market Lot
The B.A.G.Convergence IPO minimum market lot is 3,200 shares with ₹2,78,400 application amount.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 2 | 3,200 | ₹2,78,400 |
| Retail Maximum | 2 | 3,200 | ₹2,78,400 |
| S-HNI Minimum | 3 | 4,800 | ₹4,17,600 |
| S-HNI Maximum | 7 | 11,200 | ₹9,74,400 |
| B-HNI Minimum | 8 | 12,800 | ₹11,13,600 |
IPO Reservation
| Investor Category | Share Offered | -% Shares |
| Market Maker Shares Offered | 2,80,000 Shares | 5.00% |
| Anchor Investor | 15,60,000 Shares | 27.86% |
| QIB (Ex. Anchor) | 10,40,000 Shares | 18.57% |
| NII Shares Offered | 8,32,000 Shares | 14.86% |
| Retail Shares Offered | 18,88,000 Shares | 33.71% |
B.A.G.Convergence IPO Anchor Investors
| Anchor Bidding Date | September 29, 2025 |
| Anchor Investors List | |
| Shares Offered | 15,60,000 Shares |
| Anchor Size | 13.57 Cr. |
| lock-in period end date 50% shares (30 Days) | November 5, 2025 |
| lock-in period end date 50% shares (90 Days) | January 4, 2026 |
B.A.G.Convergence IPO Dates
The B.A.G.Convergence IPO date is September 30 and the close date is October 3. The B.A.G.Convergence IPO allotment will be finalized on October 6 and the IPO listing on October 8.
| IPO Open Date: | September 30, 2025 |
| IPO Close Date: | October 3, 2025 |
| Basis of Allotment: | October 6, 2025 |
| Refunds: | October 7, 2025 |
| Credit to Demat Account: | October 7, 2025 |
| IPO Listing Date: | October 8, 2025 |
| IPO Bidding Cut-off Time: | October 3, 2025 – 5 PM |
Promoters and Holding Pattern
The promoters of the company are Abhiraj Singh Bhal, Raghav Chandra and Varun Khaitan.
| Particular | Shares | % Share |
| Promoter Holding Pre Issue | 1,56,18,800 | 89.58% |
| Promoter Holding Post Issue | 2,12,18,800 | 65.93% |
Objects of the Issue & Utilisation of proceeds
| Purpose | Crores |
| Expansion of Existing Business | 13.49 |
| Acquisition/ Production of Content | 13.30 |
| Brand building expenses | 5.00 |
| General Corporate Purpose | – |
About B.A.G.Convergence IPO
B.A.G. Convergence Limited, founded in April 2007, is one of the growing companies that focuses on offering technical assistance and production services for television channels and websites. In 2007, the company launched its first website, news24online.com. The company makes videos for its website, YouTube, Facebook, and Instagram by partnering with Samsung to enter the Connected TV (CTV) space by preinstalling its app on their TVs. The company includes 87 employees in various departments as of August 31, 2025.
The company is involved in providing many services such as Artificial Intelligence & Automation, Cloud-Based Broadcasting, High-Definition & 4K Content Production, and OTT & Streaming Services. Initially, the company earned revenue through Google AdSense. Later, as they grew, content aggregators like Times Internet Limited (TIL), Daily Hunt, and direct clients, including government agencies, helped them earn recognition.
B.A.G.Convergence IPO Company Financial Report
Amount ₹ in Crores
| Period Ended | Revenue | Expense | PAT | Assets |
| 2023 | ₹24.96 | ₹18.46 | ₹4.99 | ₹11.57 |
| 2024 | ₹30.33 | ₹19.45 | ₹8.05 | ₹18.33 |
| 2025 | ₹35.85 | ₹21.86 | ₹9.41 | ₹43.84 |
B.A.G.Convergence IPO Valuation – FY2025
Check B.A.G.Convergence IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| KPI | Values |
| ROE: | 40.96% |
| ROCE: | -% |
| EBITDA Margin: | 39.04% |
| PAT Margin: | 25.37% |
| Debt to equity ratio: | 0.57 |
| Earning Per Share (EPS): | ₹5.82 (Basic) |
| Price/Earning P/E Ratio: | 14.09 |
| Return on Net Worth (RoNW): | 40.96% |
| Net Asset Value (NAV): | ₹14.22 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| TV Today Network* | 12.54 | 11.98 | 9.28% | 149.44 | 1038.73 Cr. |
| Zee Media | (1.60) | (7.83) | (23.50%) | 6.83 | 463.51 Cr. |
IPO Lead Managers aka Merchant Bankers
- Inventure Merchant Banker Services Pvt.Ltd.
Company Address
B.A.G.Convergence Ltd.
352, Aggarwal Plaza
Plot No. 8,
Kondli
East Delhi, New Delhi, 110096
Phone: +91 120 4602424
Email: [email protected]
Website: http://www.bagconvergence.in/
IPO Registrar
Maashitla Securities Pvt.Ltd.
Phone: +91-11-45121795-96
Email: [email protected]
Website: https://maashitla.com/allotment-status/public-issues
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Note: The B.A.G.Convergence IPO price band and date are officially announced. The (B.A.G.Convergence IPO grey market premium) will be added to the IPO GMP page as it will start).
