At the issue price, the Tatva Chintan commanded a PE of 41.62 times and a market-cap of Rs 2,400 crore compared with listed peers Aarti Industries' 63 times and Navin Fluorine International at 61.4 times. Astha Jain of Hem Securities advised long-term investors to pare at least 50 per cent of their holdings. "Investors, who were seeking listing gains only, should book 100 per cent profits on Day 1 itself," she said. The Rs 500 crore IPO, which was sold from July 16 to 20, saw strong demand. Overall, the issue was subscribed over 180 times, with the quota reserved for qualified institutional buyers (QIBs) 185.23 times while the one reserved for non-institutional investors (NIIs) 512.22 times. The retail quota was subscribed 35.35 times.