The code posted by Jonathan and Shay Levy did not work for me.
Please find the working code below:
If (-NOT ([Security.Principal.WindowsPrincipal][Security.Principal.WindowsIdentity]::GetCurrent()).IsInRole([Security.Principal.WindowsBuiltInRole] "Administrator"))
{
#"No Administrative rights, it will display a popup window asking user for Admin rights"
$arguments = "& '" + $myinvocation.mycommand.definition + "'"
Start-Process "$psHome\powershell.exe" -Verb runAs -ArgumentList $arguments
break
}
#"After user clicked Yes on the popup, your file will be reopened with Admin rights"
#"Put your code here"