B.A.G.Convergence Ltd.

BAGCONVSME

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Overview

B.A.G. CONVERGENCE LIMITED is a digital media and technology company that began its journey in 2007 with the launch of its news website, news24online.com, and its Hindi version. The company expanded into the entertainment sector with e24bollywood.com. Over the years, it has adapted to technological shifts by focusing on mobile users, developing dedicated mobile apps like News24 and E24, and diversifying its content delivery across various social media platforms. The company produces a wide range of content including text, audio, and video, covering current affairs, sports, and entertainment. Its growth strategy involves launching new digital channels, entering regional markets, and expanding into the Connected TV (CTV) space through strategic partnerships.

Opening Date

Sep 30, 2025

Closing Date

Oct 03, 2025

Listing Date

Oct 08, 2025

IPO Type

SME

IPO Status

Closed

Issue Size

48.72 Cr

Fresh Issue

48.72 Cr

Offer for Sale

—

Price Band

₹82 - ₹87

Lot Size

1600

IPO Timeline

Sep 30, 2025

Open Date

Oct 03, 2025

Close Date

Oct 06, 2025

Allotment Date

Oct 07, 2025

Initiation of Refunds

Oct 08, 2025

Listing Date

Financials

Revenue

Profit After Tax (PAT)

IPO Objective

The main objectives of the issue are:

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Expansion of the existing business by launching new digital channels, websites, and mobile applications, enhancing technological infrastructure, and entering new regional markets to broaden audience reach.
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Acquisition and production of diverse digital content, including high-quality video content for both websites and social media platforms, to increase user engagement and retention.
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Funding brand building expenses to enhance the company's corporate image and the visibility of its various digital media brands.
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Financing general corporate purposes, which may include meeting working capital requirements, strategic initiatives, and other operational needs.

Key Performance Indicator

P/E Ratio

18.13

EPS

9.41

ROE

40.96%

ROCE

39.04%

RONW

40.96%

Debt to Equity Ratio

0.57

PAT Margin

25.37%

EBITDA Margin

39.04%

P/B

18.13

SWOT Analysis

Strengths

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Established leadership position with prominent and recognized brands like News24 and E24.
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Experienced promoter and senior management team with extensive expertise in the media industry.
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Strong strategic partnerships with major content aggregators and technology platforms like Google, Meta, and Samsung.
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Robust and diversified digital presence across multiple platforms including websites, mobile apps, and social media channels.

Weaknesses

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High dependency on third-party platforms like Google and Meta for a significant portion of traffic and revenue.
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Revenue model is heavily reliant on advertising, which is cyclical and subject to market volatility.
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Vulnerability to frequent algorithm changes by search engines and social media platforms, which can impact visibility and reach.
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Potential operational challenges in scaling high-quality content production to meet the demands of diverse regional markets.

Opportunities

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Expansion into high-growth regional language markets with increasing digital media consumption.
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Tapping into the emerging Connected TV (CTV) and Over-The-Top (OTT) markets through strategic partnerships.
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Launching new content verticals and dedicated platforms, such as the proposed sports website, to capture niche audiences.
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Leveraging the continuous growth of internet and smartphone penetration across India to expand the user base.

Threats

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Intense competition from a large number of established and emerging digital media players in India.
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Evolving government regulations on digital content, data privacy, and OTT platforms could impose compliance burdens.
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A potential downturn in the economy leading to reduced advertising expenditure from corporate clients.
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Increasing cybersecurity risks, including data breaches and DDoS attacks, which could disrupt operations and damage brand reputation.

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