‘Ringing of the Gong’: First from Tripura, OPEL debits on BSE
Mumbai/Agartala, Sept 4: Tripura etched its name on India’s financial map on Wednesday as Oval Projects Engineering Limited (OPEL) debuted on the Bombay Stock Exchange (BSE). With this, OPEL became the first company from Tripura and the second from the North East to be listed on Dalal Street.
This achievement adds to OPEL’s list of milestones—earlier, it also became the first organisation from the Northeast to receive Foreign Direct Investment (FDI).
The momentous moment was marked with a ceremonial “Ringing of the Gong” at the iconic BSE tower in Mumbai, where OPEL’s founder and chairman, Gautam Debnath, rang the bell to formally announce the state’s entry into India’s capital markets.
Founded in 2013 by Debnath, OPEL has grown into a trusted EPC (Engineering, Procurement and Construction) and O&M (Operation & Maintenance) service provider in oil & gas, power, urban development, and civil infrastructure.
The company currently employs over 450 youths, making it a significant contributor to Tripura’s industrial ecosystem.
Successful IPO
OPEL launched its Initial Public Offering (IPO) on August 28, 2025, which closed on September 1 for institutional investors. The IPO, valued at ₹46.74 crore, was priced between ₹80 and ₹85 per share, with a minimum retail lot of 3,200 shares.
After completing rigorous listing procedures, the shares hit the trading counter on today, September 4, 2025.
Chairman’s Message
Speaking to the media after the listing, Debnath said, “This is not merely a corporate success, but a step towards Tripura’s representation in India’s industrial and financial landscape.”
He appealed to the state government to consider transport subsidies instead of capital subsidies, explaining that Tripura’s small market size and geographical isolation make it dependent on selling products outside the state.
“High transportation costs push Tripura’s products out of competition. A transport subsidy will make them price-competitive,” he argued.
Debnath also advised aspiring entrepreneurs to maintain transparent accounts and build a strong organisational structure to successfully venture into the capital market.
Industry Reactions
Congratulating OPEL, Radha Kirthivasan, Head of Listing and SME, BSE, praised the company’s perseverance and said its success aligns with the government’s Viksit Bharat vision.
She added that OPEL’s achievement would inspire more entrepreneurs from Tripura and the North East to tap into India’s capital market for growth.
Echoing her views, Suhas Satardekar, Senior Vice President at BSE, expressed confidence that OPEL will continue to enjoy investor trust and deliver long-term value.
A Call for Investment Opportunities
Before concluding the ceremony, Debnath revealed that he had received a $2 million FDI proposal which he intends to invest in Tripura. However, he admitted facing difficulties in identifying a viable sector within the state and urged the government and policymakers to suggest suitable investment avenues.
The historic listing of OPEL not only represents a breakthrough for a single company but also places Tripura on the national financial map, setting a precedent for the region’s entrepreneurs to follow.
