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B.A.G. Convergence Ltd
EntertainmentIPOSME
₹87 - 87
Our Company was founded with the vision of becoming a key player in the digital media space. Started its journey in 2007 with the launch of our first website, news24online.com. Soon after, we introduced a Hindi version, hindi.news24online.com, to cater to a wider audience. Expanding into the entertainment space, we launched e24bollywood.com, covering Bollywood news and updates. In the beginning, we relied on Google AdSense for ad revenue, but as we grew, content aggregators like TIL, Daily hunt and direct clients including government agencies helped us generate additional income and build our brand recognition over a period.
Lot1,600Min Invest₹2,78,400Face Value₹10Issue Size₹49 CrFresh Issue₹49 CrListing Price₹101CMP₹102
Timeline
30 Sept
Bidding opens
3 Oct
Bidding closes
6 Oct
Allotment
7 Oct
Refund & demat credit
8 Oct
Listing
Subscription
Subscription opens once dates are announced
Reports
Offer Details
Terms
Issue Size₹49 Cr0.56 Cr shares
Fresh Issue₹49 Cr
Face Value₹10
Lot Size1,600 shares
ReservationQIB 48.87% · NII 15.64% · RETAIL 35.49%
Application Sizes
Retail₹2,78,4001-1 lots
sNII₹2,78,400from 2 lots
bNII₹11,13,600from 8 lots
Managers & Registrar
Lead ManagerInventure Merchant Bankers Services Pvt Ltd
RegistrarMaashitla Securities Pvt Ltd
Ownership & Proceeds
Shareholding
CategoryPre IPOPost IPOPromoter Group89.58%65.93%Public10.42%34.07%
Objects of the Issue
- Expansion of existing business
- Acquisition/production of content
- Brand building expenses
- General corporate purposes
Financials
Profit & Loss
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| RevenueCr | 22 | 25 | 30 | 36 | 43 |
| Operating ProfitCr | 3 | 6 | 10 | 14 | 18 |
| OPM% | 11.2 | 25.5 | 35.0 | 38.7 | 42.3 |
| PBTCr | 3 | 6 | 11 | 13 | 15 |
| PATCr | 3 | 5 | 8 | 9 | 11 |
| EPS | 2,512 | 4,929 | 7,953 | 6 | 5 |
Balance Sheet
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Equity CapitalCr | 0 | 0 | 0 | 16 | 21 |
| ReservesCr | -6 | -1 | 7 | 7 | 56 |
| BorrowingsCr | 0 | 0 | 0 | 0 | 0 |
| Total AssetsCr | 13 | 12 | 18 | 44 | 102 |
Cash Flow
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Operating Cash FlowCr | 13 | 1 | 4 | 13 | -15 |
| Investing Cash FlowCr | 0 | -1 | 2 | -5 | -4 |
| Financing Cash FlowCr | -15 | 1 | -1 | 4 | 45 |
| Net Cash FlowCr | -2 | 0 | 5 | 12 | 26 |
Strengths & Risks
Strengths · as stated in the DRHP
- Leadership position.
- Experienced promoter and senior management team.
- Our Partnerships.
Strategies · as stated in the DRHP
- Expansion of Digital Channels and Platforms.
- Expansion of Brand News24 Sports.
- Bring more strength and value to existing websites and social media.
- Strengthening Internal Capabilities in Content, SEO, and Technology.
- Partnerships with OTT and CTV Platforms.
- Focusing on Video Content to Boost Engagement.
Risks · as stated in the DRHP
- Our Company and Group Companies are involved in certain legal proceedings and potential litigations. Any adverse decision in such proceedings may render us/them liable to liabilities/penalties which may adversely affect our business, financial condition and results of operations.
- If we are unable to implement our growth strategy successfully including in relation to increasing viewership on our website and on other social media platforms such as YouTube, FaceBook, Instagram, X and other upcoming platforms including adopting changing technology such as AI and VA, thereby not being able to enhance our revenues, our results of operations and financial condition may be adversely affected.
- The process of content development is expensive, time-consuming, and uncertain.
- We propose to utilize a portion of our Net Proceeds towards expansion of existing business. Any delay or failure in successfully expanding our existing business may affect our business growth, thereby affecting our future business plans, business operations and financial conditions.
- Although we have entered into contracts and assignment agreements with our group companies / Promoters for use of their contents / Brands, however we are heavily dependent on the brand success of News24 and E24 and other channel partners, any loss of those businesses may impact our revenues and profitability also.
- Failure to adapt to evolving customer needs or changing consumer preferences and to embrace & develop new technologies could have detrimental effects on our business, financial standing, and operational results.