MUMBAI: Television Eighteen India Ltd today announced that resources upto Rs 500 million will be raised for funding the Companies expansion by way of Rights Issue/Preferential Issue/Private Placement of Equity/Preference Shares and / or Debt in the board of directors meeting that was held today.

The company also considered and approved the alteration of bylaws of the company to enhance the authorised preference share capital and introduce new Employees Stock Option Plan and Employee Stock Purchase Plan as per the discussions held today. The 11th Annual General Meeting scheduled on 25 June 2004 will consider and approve the same.