Generally, higher the interest rate, higher is the risk. You should analyze the company before investing into the same. In this case, it's CNBC-TV18, which is a media company. Media companies in general are capital intensive and ROI is not consistently great. If they are paying you more interest as compared to banks, it means that inherent risk is higher.
Also, this happens to be the maiden offer (unless someone corrects me). Without a track record, all you can do is speculate. If you are interested in a high yield corporate FD, please have a look at Shriram Transport Finance Unnati Deposits which give pretty decent returns.
Happy Investing !!
Disclaimer: I have invested a decent amount in STFC Unnati and believe that the fundamentals of the company are good enough for me to recover my capital