Agartala: Oval Projects Engineering Limited (OPEL) has become the first company from the northeastern state to be listed on the Bombay Stock Exchange (BSE), over five decades after Tripura joined the Indian Union.
Founded in 2013, the Agartala-based company operates across seven Indian states in the oil and gas sector and other infrastructure projects.
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OPEL, with a capital of Rs 177 crore, has delivered significant projects, including a gas gathering station for ONGC in 2016, which supplied gas to a 106 MW power project by NEEPCo.
Celebrating the listing, OPEL chairman Gautam Debnath called it a “historic milestone” and highlighted that the company is also the first in the northeast to attract foreign direct investment (FDI) of USD 2 million.
The company’s Initial Public Offering (IPO), which ran from August 28 to September 1, 2025, was valued at Rs 46.74 crore, with shares priced between Rs 85-89 each. Experts say the listing is expected to boost investment and employment opportunities in Tripura and across the northeast.
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Debnath pointed out that as an unlisted firm, OPEL had to rely heavily on external investors. “The listing gives us a stronger foothold in the national financial landscape and opens up avenues for public funding,” he said.
While praising the Tripura government’s subsidies for capital and machinery, Debnath stressed the need for complete transport subsidies to improve competitiveness. He also called for policies incentivizing green industries, IT, and service sectors, leveraging Tripura’s over 60% green cover to tap into the carbon market.