New Delhi, July 21 -- The broader market is off to a volatile start this Tuesday morning, but India's largest IPO so far this year managed a decent debut.

Betting big in a volatile environment, SBI Funds Management made a reasonable market debut, listing at 6.3 % premium. The Rs.9,813-crore issue drew big demand, attracting bids worth nearly Rs.3 trillion. With a massive 42 times oversubscription, it ranks second only to Reliance Power among India's 20 mega-IPOs.

While SBI Funds did well, how have past giants fared on their listing days?

A Mint analysis of the 20 largest IPOs ( by issue size) showed that the broader market conditions typically dictate the direction of a debut. Of the 11 large IPOs that debuted on days when the Sensex a...