Private sector lender RBL Bank Ltd has approved raising of ₹825.79 crore worth equity capital by way of preferential allotment to five investors. The bank’s board has agreed to allot 24.24 million shares at ₹340.70 apiece to Bajaj Finance Ltd, foreign institutional investors East Bridge Capital Master Fund I and FEG Mauritius FPI Ltd, along with Ward Ferry Management Ltd-managed hedge fund WF Asian Reconnaissance Fund and Asia-focused stock hedge fund, lshana Capital. The shares were issued at a 9.8% discount to the bank’s ₹374.15 closing price on Friday.