Bookbuilding IPO | ₹49 Cr | Listed at NSE SME | Tue, Sep 30, 2025 - Fri, Oct 3, 2025
B.A.G.Convergence IPO is a book build issue of ₹48.72 crores. The issue is entirely a fresh issue of 0.56 crore shares of ₹48.72 crore.
B.A.G.Convergence IPO bidding started from Sep 30, 2025 and ended on Oct 3, 2025. The allotment for B.A.G.Convergence IPO was finalized on Oct 6, 2025. The shares got listed on NSE SME on Oct 8, 2025.
B.A.G.Convergence IPO price band is set at ₹87 per share. The lot size for an application is 1,600. The minimum amount of investment required by an individual investor (retail) is ₹2,78,400 (3,200 shares) (based on upper price). The minimum lot size for investment in HNI is 3 lots (4,800 shares), amounting to ₹4,17,600.
Inventure Merchant Banker Services Pvt.Ltd. is the book running lead manager and Maashitla Securities Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is ACME Capital Market Ltd..
Refer to B.A.G.Convergence IPO RHP for detailed Information.
IPO Open
Tue, Sep 30, 2025
IPO Close
Fri, Oct 3, 2025
Issue Price
₹87 per share
Market Cap (Pre-IPO)
₹184.60 Cr
| IPO Date | 30 Sep to 3 Oct, 2025 |
| Listed on | Wed, Oct 8, 2025 |
| Face Value | ₹10 per share |
| Price Band | ₹82 to ₹87 |
| Issue Price | ₹87 per share |
| Lot Size | 1,600 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 56,00,000 shares (agg. up to ₹49 Cr) |
| Reserved for Market Maker | 2,80,000 shares ACME Capital Market Ltd. (agg. up to ₹2 Cr) |
| Fresh Issue (Ex Market Maker) | 53,20,000 shares (agg. up to ₹46 Cr) |
| Net Offered to Public | 53,20,000 shares (agg. up to ₹46 Cr) |
| Share Holding Pre Issue | 1,56,18,800 shares |
| Share Holding Post Issue | 2,12,18,800 shares |
| NSE Symbol | BAGDIGITAL |
| ISIN | INE17CQ01015 |
B.A.G.Convergence IPO comprises a total issue size of 56,00,000 shares. The net offer to the public is 53,20,000 shares, after excluding 2,80,000 shares allotted on a firm basis. Of the Net offer 26,00,000 (48.87%) are allocated to QIB, 8,32,000 (15.64%) allocated to NII 18,88,000 (35.49%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 26,00,000 | 48.87% | 46.43% |
| − Anchor Investor Shares Offered | 15,60,000 | 27.86% | |
| − QIB (Ex. Anchor) Shares Offered | 10,40,000 | 18.57% | |
| NII (HNI) Shares Offered | 8,32,000 | 15.64% | 14.86% |
| − bNII > ₹10L | 5,55,200 | 9.91% | |
| − sNII < ₹10L | 2,76,800 | 4.94% | |
| Retail Shares Offered | 18,88,000 | 35.49% | 33.71% |
| Firm Reservations | |||
| Market Maker Shares Offered | 2,80,000 | 5.00% | |
| Total Shares Offered | 56,00,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 3,200 shares and in multiples of 1,600 shares thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| 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 raises ₹13.57 crore from anchor investors. B.A.G.Convergence IPO Anchor bid date is September 29, 2025.
📝 Anchor Investors Letter (PDF)
| Bid Date | Mon, Sep 29, 2025 |
| Shares Offered | 15,60,000 |
| Anchor Portion (₹ Cr.) | 13.57 |
| Anchor lock-in period end date for 50% shares (30 Days) | Wed, Nov 5, 2025 |
| Anchor lock-in period end date for remaining shares (90 Days) | Sun, Jan 4, 2026 |
Incorporated in April 2007, B.A.G. Convergence Limited specializes in providing technical assistance and production services for television channels and websites. The company launched its first website in 2007, named news24online.com.
The company produces videos for its website and platforms like YouTube, Facebook, and Instagram, while also partnering with Samsung to enter the Connected TV (CTV) space through app preinstallation on their TVs.
The company offers following services:-
As of n August 31, 2025, the company had 87 employees in various departments.
Competitive Strength:
B.A.G.Convergence Ltd.'s revenue increased by 18% and profit after tax (PAT) rose by 17% between the financial year ending with March 31, 2025 and March 31, 2024.
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| 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 | 7.10 | -0.93 |
| Amount in ₹ Crore | |||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Expansion of Existing Busines | 13.49 |
| 2 | Acquisition/ Production of Content | 13.29 |
| 3 | Brand building expenses | 5.00 |
| 4 | General Corporate Purposes | 12.14 |
| KPI | Mar 31, 2025 |
|---|---|
| Debt/Equity | 0.57 |
| RoNW | 40.96% |
| PAT Margin | 25.37% |
| EBITDA Margin | 39.04% |
| Price to Book Value | 18.13 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 6.02 | 4.43 |
| P/E (x) | 14.45 | 19.62 |
| Promoter Holding | 89.58% | 65.93% |
| Market Cap | ₹184.60 Cr. |
The B.A.G.Convergence IPO is subscribed 1.38 times on October 3, 2025 6:19:14 PM (Day 3). The public issue subscribed 0.83 times in the individual investors category, 1.38 times in the QIB category, and 2.63 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for | Total Application |
|---|---|---|---|---|
| QIB (Ex Anchor) | 1.38 | 10,40,000 | 14,38,400 | 4 |
| NII* | 2.63 | 8,32,000 | 21,87,200 | 96 |
| bNII (bids above ₹10L) | 3.63 | 5,55,200 | 20,16,000 | |
| sNII (bids below ₹10L) | 0.62 | 2,76,800 | 1,71,200 | |
| Individual Investor | 0.83 | 18,88,000 | 15,61,600 | 488 |
| Total | 1.38 | 37,60,000 | 51,87,200 | 588 |
Total Application : 588
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Payment to Merchant Banker including, underwriting, and selling commissions, brokerages, Advisors to the Company, payment to other intermediaries such as Legal Advisors, Registrars etc. and other out of pocket expenses, Brokerage and selling commission | 4.00 |
| 2 | Regulatory and other expenses including Listing Fee | 0.35 |
| 3 | Advertising and Marketing | 0.40 |
| 4 | Printing and stationery expenses, distribution, and postage | 0.05 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹87.00 |
| Open | ₹101.00 |
| Low | ₹101.00 |
| High | ₹106.05 |
| Last Trade | ₹106.05 |
Lead Manager Reports
B.A.G.Convergence IPO is a SME IPO of 56,00,000 equity shares of the face value of ₹10 aggregating up to ₹49 Crores. The issue is priced at ₹87 per share. The minimum order quantity is 1600.
The IPO opens on Tue, Sep 30, 2025, and closes on Fri, Oct 3, 2025.
Maashitla Securities Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in B.A.G.Convergence IPO using UPI as a payment gateway. Zerodha customers can apply in B.A.G.Convergence IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in B.A.G.Convergence IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The B.A.G.Convergence IPO opens on Tue, Sep 30, 2025 and closes on Fri, Oct 3, 2025.
B.A.G.Convergence IPO lot size is 1600, and the minimum amount required for application is ₹2,78,400, with 2 lots being the minimum application size.
You can apply in B.A.G.Convergence IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for B.A.G.Convergence IPO will be done on Monday, October 6, 2025, and the allotted shares will be credited to your demat account by Tue, Oct 7, 2025. Check the B.A.G.Convergence IPO allotment status.
The B.A.G.Convergence IPO listing date is on Wed, Oct 8, 2025.
