The Board of Directors of the Company at their meeting held on November 12, 2021 has approved the issuance of upto 13,50,00,000 Warrants at a Price of Rs. 12.20/- per Warrants, aggregating up to Rs. 164,70,00,000/- , with the right to Warrant holder to apply for and be allotted 1 fully paid Equity Share of the face value of Re. 1/- each of the Company at a price of Rs. 12.20/- per Equity Share (including premium of Rs. 11.20/- per Equity Share) for each Warrant, with the amount paid against each Warrant be adjusted against the issue price for the resultant Equity Share, within a period of 18 months from the date of allotment of the Warrants, to Asian Satellite Broadcast Private Limited, an entity forming part of the Promoter Group of the Company, on Preferential issue basis, in accordance with Chapter V of the SEBI ICDR Regulations, Companies Act, and other applicable laws and regulations and subject to approval of the members of the Company and such other approvals as required.