Bank of Rajasthan today said it is planning to raise funds up to Rs 250 crore through private placement of shares.     

The board has approved the allotment of equity shares on qualified institutional placement (QIP) basis to raise up to Rs 250 crore in one or more tranches, the lender said in a filing to the Bombay Stock Exchange.     

The issue of shares is subject to the approval of bank's shareholders, it added.     

Shares of the bank closed today at Rs 62.45, up 2.21 per cent on the BSE.

Other Stories      - Sensex makes remarkable recovery, regains 17K - S C Kalia takes over as Union Bank ED - PNB may acquire majority stake in Kazakh bank - Maoist hindering land acquisition for Tata steel project: Raman - Koda says he will report to ED only after Jharkhand polls More

Tags : Bank of Rajasthan | shares | qualified institutional placement   Read Business news in  Advertisements   Get financial advisory and solutions for your projects   Holidays starting at a delightful EMI of Rs 3481   Switch on and say hello to Monday morning !   Your dream home can now be a reality.   Visit Fortis for a preventive health check-up & get a 20% discount.   Follow the ups and downs of your investments. Try our new Portfolio Tracker   Kolkata Dock \ Freight contract for the British Gurkhas Nepal   Find how Midsize Businesses use ERP to gain competitive advantage   Trading in Forex is now as easy as 1-2-3   Discover an economical and cost effective way to market your products and services   Giftwithlove.com: Same day delivery of Flowers and Cakes to India   Download the E-book on the Future of Business Intelligence   Learn Best Practices for improving customer satisfaction   Know your customers better... download the free e-book on CRM