B.A.G.Convergence IPO Date, Review, Price, Allotment Details
The B.A.G. Convergence IPO is scheduled to open on September 30, 2025, and will close on October 3, 2025. This is a Book Built Issue, through which the company intends to raise approximately ₹48.72 crores. The IPO includes a fresh issue of ₹48.72 crores along with an offer for sale of up to [.] equity shares, each carrying a face value of ₹10.
The shares are priced in the band of ₹82 to ₹87 per share, with allocation structured as 35% for retail investors, 50% for qualified institutional buyers (QIBs), and 15% for high net worth individuals (HNIs). The IPO allotment is expected to be completed by October 6, 2025, and the shares are anticipated to be listed on the NSE on October 8, 2025.
Financially, the company recorded a revenue of ₹35.85 crores in 2025, up from ₹30.33 crores in 2024, while net profit grew to ₹9.41 crores in 2025, compared to ₹8.05 crores in 2024. Based on these performance indicators, the IPO is considered suitable for investors looking at long-term investment opportunities.
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 Market Lot
The B.A.G. Convergence IPO has a minimum subscription lot of 3,200 shares, with a corresponding application value of ₹2,78,400.
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, 2025
B.A.G. Convergence IPO Dates
The B.A.G. Convergence IPO is set to open on September 30, 2025, and close on October 3, 2025. The allotment of shares will be finalized on October 6, 2025, and the IPO is expected to be listed on the NSE on October 8, 2025.
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 B.A.G. Convergence 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
Founded in April 2007, B.A.G. Convergence Limited is a fast-growing company specializing in technical assistance and production services for television channels and digital platforms. The company launched its first website, news24online.com, in the same year and has since expanded its presence across multiple platforms, producing engaging video content for its website, YouTube, Facebook, and Instagram. Partnering with Samsung, it ventured into the Connected TV (CTV) space by pre-installing its app on Samsung TVs, further strengthening its digital footprint. As of August 31, 2025, the company employs 87 professionals across various departments.
B.A.G. Convergence offers a wide range of services, including Artificial Intelligence & Automation, Cloud-Based Broadcasting, High-Definition & 4K Content Production, and OTT & Streaming solutions. Initially generating revenue through Google AdSense, the company has since expanded its monetization avenues by collaborating with content aggregators such as Times Internet Limited (TIL) and Daily Hunt, along with securing direct clients, including government agencies. This evolution has established B.A.G. Convergence as a recognized player in the digital media and broadcasting industry, combining innovation with scalable growth.
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 valuation details like Earnings Per Share (EPS), Price/Earnings (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/Earnings (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.
IPO Registrar
Maashitla Securities Pvt. Ltd.
Phone: +91-11-45121795-96
Email: ipo@maashitla.com
Website: https://maashitla.com/allotment-status/public-issues
Company Address
B.A.G. Convergence Ltd.
352, Aggarwal Plaza
Plot No. 8, Kondli
East Delhi, New Delhi, 110096
Phone: +91 120 4602424
Email: kriti.jain@bagconvergence.in
Website: http://www.bagconvergence.in/