Tripura achieved a major financial milestone on Thursday as Oval Projects Engineering Limited (OPEL) became the first company from the state to be listed on the Bombay Stock Exchange (BSE).

With a capital base of ₹177 crore, the Agartala-headquartered company operates across seven Indian states in the oil and gas sector while also executing projects in infrastructure and urban development.

Marking the occasion at the BSE, Chairman Gautam Debnath announced that OPEL has attracted USD 2 million in foreign direct investment (FDI) — a first for a company from the Northeast.

Founded in 2013 by Debnath, OPEL has established itself as a leading provider of EPC and operational services in oil & gas, power, and civil infrastructure. Among its notable achievements, the company built a gas gathering station for ONGC in Sonamura in 2016, which enabled gas supply to NEEPCo’s 106 MW power project.

OPEL launched its Initial Public Offering (IPO) on August 28, 2025, closing on September 1, with a valuation of ₹46.74 crore. Shares were priced between ₹85 and ₹89, with a minimum retail bid of 3,200 shares.

Speaking at the event, Debnath said the listing was more than just a corporate achievement—it signaled Tripura’s entry into India’s financial mainstream and would open doors for greater industrial investment in the state.

“Earlier, being unlisted forced us to depend on external investors despite having the capacity for large-scale projects. With this listing, we can now raise public funds and expand significantly,” he said.

Debnath also underlined the potential ripple effects for the Northeast in terms of employment and investment. However, he pointed out gaps in state policy, noting that while Tripura offers capital and machinery subsidies, manufacturing industries continue to struggle with high transportation costs.

“Tripura’s market is small but resource-rich. To compete nationally, we need stronger policy support, including full transport subsidies. Incentivizing green industries, IT, and services can also create new opportunities,” he added.

Highlighting the state’s over 60% green cover, Debnath stressed that Tripura could tap into the growing carbon market to attract sustainable investments.