PNN
Mumbai (Maharashtra) [India], October 10: The shares of B.A.G. Convergence Limited is trading at ₹ 106.05 on NSE, a premium of 22% compared with the issue price of ₹ 87 per equity share.
The company was listed at ₹ 101, a premium of 16% compared with the initial public offer. The stock is currently up 7%.
The issue comprised of 56,00,000 equity shares at a face value of ₹ 10 each with a price band of ₹ 82 - ₹ 87 Per Share and raised ₹ 13.57 Cr via anchor just ahead the IPO. The company is intending to utilize the funds for Expansion of Existing Business, Acquisition/ Production of Content, Brand building expenses and general corporate purpose.
About B.A.G. Convergence Limited:
BAG Convergence Limited, founded in 2007, is a digital media company operating News24, News24 Sports, and E24 Bollywood, delivering news and entertainment through web, mobile apps, social media, and Connected TV. The company specializes in digital content creation including text, audio, video, and infographics tailored to audience needs, with a focus on authentic and reliable content. Covering categories like current affairs, sports, infotainment, automobiles, gadgets, health, and spirituality, its primary goal is to stay relevant and provide updates that keep audiences informed.
The company has a strong digital presence with 29Mn+ YouTube subscribers, 31Mn+ Facebook followers, 4Mn+ Instagram base, 2Mn+ Twitter followers, and 16Mn+ monthly website users. Its large-scale content operations include 350+ district reporters and 450+ stringers, ensuring pan-India coverage. BAG Convergence also has a well-established sales structure covering corporate, retail, government, and digital segments, led by experienced leadership teams.
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