M&B Engineering Ltd. raised Rs 292 crore from anchor investors on Tuesday ahead of its initial public offering.The company allotted 75 lakh shares at Rs 385 apiece to 24 anchor investors. This includes a share premium of Rs 375 per equity share, the firm said in an exchange filing on Tuesday.Abu Dhabi Investment Authority-Stable got the highest allocation of 12%. HDFC Mutual Fund-HDFC Manufacturing Fund got the second highest allotment of 10.72% and Aditya Birla Sun Life Trustee Pvt. A/C Aditya Birla Sun Life Small Cap Fund got 10.29% stake in the company.Seven domestic mutual funds have applied through 14 schemes and collectively netted 59.16% of the anchor portion. HDFC Mutual Fund, Whiteoak Capital Mutual Fund, Kotak Mutual Fund, Aditya Birla Sun Life Mutual Fund, Bandhan Mutual Fund, JM Financial Mutual Fund and ITI Mutual Fund were the fund houses in this category.Equirus Capital Pvt. and DAM Capital Advisors are the book-running lead managers to the issue.The company will launch its initial public offering on Wednesday to raise up to Rs 650 crore. It has set a price band of Rs 366 to Rs 385 per share for its three-day IPO, comprising a mix of fresh issue of equity shares worth Rs 275 crore and an offer for sale of Rs 375 crore by promoters. The minimum application lot size is 38 shares.The offer, which concludes on Friday, is set to list on the BSE and the National Stock Exchange.The fresh issue proceeds will be used for funding the capital expenditure requirements for the purchase of equipment and machinery, building works, solar rooftop grid and transport vehicles at its manufacturing facilities.The firm will also use the proceeds for investment in IT software upgradation, and re-payment or pre-payment of term loans, the DRHP said.SRK, Bachchan-Backed Sri Lotus Developers Raises Rs 237 Crore From Anchor Investors Ahead Of IPO. Read more on Markets by NDTV Profit.