"This project has already made significant progress and the first channel is expected to be launched before the end of this year," the company informed the Bombay Stock Exchange.
To finance this expansion, the company recommended early conversion of warrants issued on rights basis on November 6 last year to raise Rs 55 crore.
The promoters of the company would also convert their entire holding of warrants, it said, adding the conversion of warrants will allow retail shareholders to get TV18 shares at a discount to the market price.
The company, which operates in the business news space at present, would also introduce new employee stock option plans.
TV18 has convened a warrant holders meeting and an extra ordinary general meeting of the shareholders for obtaining the necessary approvals, it added.
