Shares of SBI Cards and Payments will debut on the stock exchanges (NSE and BSE) on Monday, March 16. It may be recollected that the IPO had closed on March 05 with an oversubscription of 26 times. The only reference point we have for the issue listing is the grey market. Here the premiums used to be 60-70% but in the last few days these premiums have gradually tapered down to 5-10% and now with the volatility in the markets it is expected that the IPO could actually get a weak opening in the markets. However, one must not look and give too much credence to the list price alone as a lot of good stocks have managed to perform well despite a very weak listing.