OPEL becomes first company from Tripura listed on BSE

Agartala: In a landmark development for Tripura, Oval Projects Engineering Limited (OPEL) has become the first company from the northeastern state to be listed on the Bombay Stock Exchange (BSE), marking a significant financial milestone 53 years after the state’s integration into the Indian Union.

The Agartala-based company, with a capital of Rs 177 crore, operates across seven Indian states in the oil and gas sector and various infrastructure projects.OPEL’s chairman, Gautam Debnath, celebrated the occasion by highlighting the company’s achievement as the first from the northeast to secure foreign direct investment (FDI) of USD 2 million. Established in 2013, OPEL has grown into a leading provider of EPC and operational services in oil & gas, power, urban development, and civil infrastructure.

The company notably completed a gas gathering station for ONGC in 2016, facilitating gas supply to a 106 MW power project by NEEPCo.The company’s Initial Public Offering (IPO), launched on Aug 28, 2025, and concluded on Sept 1, 2025, was valued at Rs 46.74 crore, with shares priced between Rs 85-89 each. The listing is seen as a pivotal moment for Tripura, enhancing its presence in India's financial landscape and attracting potential investments in the state's industrial sector.

Debnath emphasized that the listing transcends corporate achievements, representing a stronger foothold for Tripura in the national financial arena. He noted that as an unlisted company, OPEL faced challenges in securing public funding, relying heavily on external investors. The new listing is expected to stimulate investment and employment opportunities across the northeast.Debnath also highlighted the Tripura govt’s efforts to provide capital and machinery subsidies for investors, though he argued for complete subsidies for transportation to enhance competitiveness. Despite Tripura's rich resources, high transportation costs have hindered market competitiveness.He called for a robust policy framework to incentivize investments in green industries, IT, and service sectors, leveraging Tripura’s environmental advantages and over 60% green cover to explore opportunities in the carbon market.