Ellenbarrie Industrial Gases Ltd commenced trading on a strong note Tuesday, listing at a substantial premium of over 20% against its issue price of Rs. 400 per share. The stock debuted at Rs. 492 on the BSE and later surged 35.3% to Rs. 541.20 during intra-day trade. Backed by a well-received Rs. 852 crore initial public offering (IPO), which saw an impressive 22.19 times oversubscription, the company’s market capitalization touched Rs. 7,603.48 crore.