B.A.G.Convergence IPO
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Schedule of B.A.G.Convergence
| Issue open date | 30 Sep 2025 |
| Issue close date | 03 Oct 2025 |
| UPI mandate deadline | 03 Oct 2025 (5 PM) |
| Allotment finalization | 06 Oct 2025 |
| Refund initiation | 07 Oct 2025 |
| Share credit | 07 Oct 2025 |
| Listing date | 08 Oct 2025 |
| Mandate end date | 18 Oct 2025 |
| Lock-in end date for anchor investors (50%) | 05 Nov 2025 |
| Lock-in end date for anchor investors (remaining) | 04 Jan 2025 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About B.A.G.Convergence
B.A.G. Convergence, founded in 2007, started with News24online and later launched Hindi and Bollywood portals. It moved from Google AdSense to revenue from content aggregators and direct clients. The company shifted from desktop to mobile-first platforms, launching News24 and E24 apps to expand reach and adapt to 2G–5G growth.
Financials of B.A.G.Convergence
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹48.72 crores |
| Fresh Issue | ₹48.72 crores |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Business Expansion | 13.49 (27.70%) |
| Content Acquisition/Production | 13.30 (27.30%) |
| Brand Building | 5 (10.30%) |
| General Corporate Purpose | 16.93 (34.70%) |
Strengths
- Leadership position with trusted Hindi news (News24) and entertainment (E24) channels and strong digital presence.
- Experienced promoter Anuradha Prasad Shukla with 30+ years in media and a skilled senior management team.
- Partnerships with OTT, CTV and digital platforms expanding reach and monetization opportunities.
- Diverse content offerings including news, entertainment, and sports driving multiple revenue streams.
- High EBITDA margins and consistent growth in revenue and profitability over the last three years.
Risks
- Involvement of company and group entities in certain legal proceedings; adverse outcomes may affect operations.
- Heavy dependence on advertising revenues; downturns in ad spending can hit profitability.
- No ownership of key properties (registered offices taken on lease) creating operational dependency.
- Intense competition from other media houses and digital platforms for audience and ad share.
- Regulatory changes or stricter controls on digital platforms could impact content distribution and monetization.
Allotment Status for B.A.G.Convergence
To check your allotment status – click here.
Subscription Figures for B.A.G.Convergence
As per media reports (Link), the Grey Market Premium (GMP) of B.A.G.Convergence is reported at ₹0 over the IPO price. This metric is not reliable, and to track IPO interest, it is better to check subscription numbers published by exchanges, which are considered more reliable indicators.
Subscription numbers as of 5:00 PM on September 30, 2025:
| Category | Reserved (lakhs) | Applied (lakhs) | Subscription (X times) |
|---|---|---|---|
| Institutional | 10.40 | 0 | 0.00x |
| NII | 8.32 | 8.04 | 0.97x |
| Retail | 18.88 | 1.88 | 0.10x |
| Total | 37.60 | 9.93 | 0.26x |