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B.A.G. Convergence Limited, the digital media company behind News24 and E24 will launch its Initial Public Offering (IPO) on September 30. The public issue, worth up to Rs 48.72 crore at the upper price band. The shares will be listed on the NSE Emerge platform.

The IPO comprises 56,00,000 equity shares with a face value of Rs 10 each. The price band has been fixed at Rs 82–Rs 87 per share. Investors will have to apply for a minimum of two lots, with each lot containing 1,600 shares, translating into a minimum bid size of 3,200 shares.

The allocation structure includes up to 15,60,000 shares for anchor investors, 10,40,000 shares for qualified institutional buyers, 8,32,000 shares for non-institutional investors and not less than 18,88,000 shares for retail participants. A further 2,80,000 shares are reserved for the market maker.

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The anchor portion will open on September 29, while the subscription window for the public will run from 30 September to 3 October.

The company has said that the funds raised will be deployed towards expanding existing operations, content acquisition and production, brand-building initiatives and other general corporate purposes.

Inventure Merchant Banker Services Private Limited is the book running lead manager to the issue and Maashitla Securities Private Limited is the registrar.

In FY25, the company reported revenue of Rs 3,563.35 lakh, earnings before interest, tax, depreciation and amortisation (EBITDA) of Rs 1,399.46 lakh and profit after tax of Rs 909.71 lakh.

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