Rs 12.5 lakh crore. That's the mutual fund assets SBI Funds Management oversees — a 15.3% share of India's entire MF industry, making it the country's largest asset manager. The IPO opening today at a Rs 545–Rs 574 price band values the firm at a P/E of 38.1 times — notably below the listed AMC average of 41.6 times, according to Anand Rathi. A grey market premium of Rs 100 signals expected listing gains of roughly 17%, though the pure...