B.A.G. Convergence Ltd IPO

About B.A.G. Convergence Ltd

Our Company was incorporated as B.A.G. Convergence Private Limited on April 11, 2007 under the Companies Act, 1956 with the Registrar of Companies, NCT of Delhi & Haryana at New Delhi bearing Registration number 161935. The status of the Company was changed to public limited and the name of our Company was changed to B.A.G. Convergence Limited vide Special Resolution dated August 29, 2024 pursuant to conversion of the Company into public limited Company. The fresh certificate of incorporation consequent to conversion was issued on September 12, 2024 by the Registrar of Companies, CPC of Delhi & Haryana. The Corporate Identification Number of our Company is U22121DL2007PLC161935.

Strong economic growth in the first quarter of FY23 helped India overcome the UK to become the fifth-largest economy after it recovered from the COVID-19 pandemic shock. Nominal GDP or GDP at Current Prices in the year 2023-24 is estimated at Rs. 295.36 lakh crores (US$ 3.54 trillion), against the First Revised Estimates (FRE) of GDP for the year 2022-23 of Rs. 269.50 lakh crores (US$ 3.23 trillion). The growth in nominal GDP during 2023-24 is estimated at 9.6% as compared to 14.2% in 2022-23. Strong domestic demand for consumption and investment, along with Government's continued emphasis on capital expenditure are seen as among the key driver of the GDP in the second half of FY24. During the period April-June 2025, India's exports stood at US$ 109.11 billion, with Engineering Goods (25.35%), Petroleum Products (18.33%) and electronic goods (7.73%) being the top three exported commodity. Rising employment and increasing private consumption, supported by rising consumer sentiment, will support GDP growth in the coming months. Future capital spending of the government in the economy is expected to be supported by factors such as tax buoyancy, the streamlined tax system with low rates, a thorough assessment and rationalisation of the tariff structure, and the digitization of tax filing. In the medium run, increased capital spending on infrastructure and asset-building projects is set to increase growth multipliers. The contact-based services sector has demonstrated promise to boost growth by unleashing the pent-up demand. The sector's success is being captured by a number of HFIs (High-Frequency Indicators) that are performing well, indicating the beginnings of a comeback. Real GDP or GDP at Constant (2011-12) Prices in the year 2023-24 is estimated at Rs. 173.82 lakh crores (US$ 2.08 trillion), against the First Revised Estimates (FRE) of GDP for the year 2022-23 of Rs. 160.71 lakh crores (US$ 1.92 trillion). The growth in real GDP during 2023-24 is estimated at 8.2% as compared to 7.0% in 2022-23. There are 113 unicorn startups in India, with a combined valuation of over US$ 350 billion. As many as 14 tech startups are expected to list in 2024 Fintech sector poised to generate the largest number of future unicorns in India. With India presently has the third-largest unicorn base in the world. The government is also focusing on renewable sources by achieving 40% of its energy from non-fossil sources by 2030. India is committed to achieving the country's ambition of Net Zero Emissions by 2070 through a five-pronged strategy, `Panchamrit'. Moreover, India ranked 3rd in the renewable energy country attractive index. The Indian Media and Entertainment (M&E) sector has demonstrated a remarkable recovery and transformation in the wake of the COVID-19 pandemic. The industry's resurgence has been fueled by 6. a combination of rapid digital growth, innovative advertising strategies, and consumer-driven content preferences. In this context, India, like China and Indonesia, is a growth hotspot as per the PwC Global Entertainment & Media Outlook 2023-2027: India perspective report. Further, as per the FICCI-EY Report (2024), the Indian M&E industry was valued at INR 2.32 lakh crore in 2023 and is projected to reach INR 2.55 lakh crore by the end of 2024. By 2026, the sector is expected to expand further, reaching an impressive INR 3.08 lakh crore.

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.

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