Big Deal: SBI Cards IPO to open on March 2; here's what management has to say

SBI, managing director Dinesh Khara, said, "The fact of the matter is that it gives the opportunity for the kind of capital which is awaiting to be deployed. Here is an issuance which is an issuance from a company which has got long term prospects, which has got huge opportunity to tap. I think from that perspective, it is a great investment opportunity."

Allaying investor fears, Hardayal Prasad, managing director and chief executive officer of SBI Cards said, "The retail usually gets affected almost about 9-12 months after the industry or the economy goes down. So, there could be some issues regarding that. However, we strongly feel that credit card penetration in India is very low and the opportunity in tier II and tier III cities is so high that this kind of growth will continue for quite some time."