IPO Key Dates
| Anchor Investor Subscription | |
| IPO opens on | 30 Sept. 2025 |
| IPO Closes on | 3 Octo 2025 |
| Allotment on | 6 Octo. 2025 |
| Credit of shares on | 7 Octo. 2025 |
| Tentative Listing on | 8 Octo.2025 |
| Registered office in.. |
| New Delhi |
| Lead Manager of the IPO |
| Inventure Merchant Banker Services Pvt ltd |
| Registrar to the IPO |
| Maashitla Services Pvt ltd |
Business:
Incorporated in April 2007, B.A.G. Convergence Ltd. is engaged in providing technical support and production services for television channels and digital platforms. The company made its digital debut in 2007 with the launch of news24online.com.
It produces video content for its own website as well as for leading platforms like YouTube, Facebook and Instagram. Further, in association with Samsung, the company has forayed into the Connected TV (CTV) segment through pre-installed apps on Samsung TVs, strengthening its digital presence.
IPO Details
| IPO opens on | 30 September 2025 |
| IPO closes on | 3 October 2025 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 56,00,000 Shares / Rs 48.72 Crore |
| * Fresh Issue | – |
| * Offer for Sale – | – |
| Market Maker Portion | 280,000 Shares |
| Net offer to Public | 53,20,000 Shares Rs. 46.28 Crores |
| Face Value per share | Rs. 10 |
| Price Band | Rs. 82-87 |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | 1600 Shares |
| Listing will at | NSE SME |
How shares are being offered
| Investor Category | Shares Offered |
| Market Maker | 5.00 % |
| QIB | 46.43% |
| NII (HNI) | 14.86% |
| Retail | 33.71% |
| Total Shares | 100% |
| Application | Lots | Shares | Amount |
| Retail (Min) | 2 | 3,200 | ₹2,78,400 |
| 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 |
The Promoters’ Holding
The promoters hold 89.58% of the pre-IPO capital
The Objects of the IPO
The Company proposes to utilize the Net Proceeds from Issue towards funding the following objects
| Objects of the Issue | Rs. in Millions |
| Expansion of Existing Busines | 134.9 |
| Acquisition/ Production of Content | 132.95 |
| Brand building expenses | 50 |
| General Corporate Purposes |
Financials Snapshot
| Period Ended | 31-Mar-25 | 31-Mar-24 | 31-Mar-23 |
| Assets | 43.84 | 18.33 | 11.57 |
| Total Income | 35.85 | 30.33 | 24.96 |
| Profit After Tax | 9.41 | 8.05 | 4.99 |
| EBITDA | 13.99 | 10.88 | 6.49 |
| NET Worth | 22.21 | 7.11 | -0.92 |
| Reserves and Surplus | 6.59 | 7.1 | -0.93 |
| Amount in ₹ Crore | |||
Peer Comparison:
| Company Name | P/E (x) | RoNW (%) |
| Valplast Technologies | 12.75 | 20.16 |
| SRM Contractors Limited | 20.6 | 19.96 |
Key Financial Indicators
| KPI | Values |
| Debt/Equity | 0.57 |
| RoNW | 40.96% |
| PAT Margin | 25.37% |
| EBITDA Margin | 39.04% |
| Price to Book Value | 18.13 |
| EPS | 6.02 |
| PER | 14.45 |
IPO Recommendation/Concise Review-
Considering its business potential, the IPO is worth taking risk.
Quicklinks
- Market Analysis by Nagaraj Shetti
- Stock Market today by Vaishali Parekh
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