Man Discovers Grandfather’s SBI Shares Worth Rs 500 Bought in 1994, Current Value Astounds Online Community
In a remarkable twist of fate, a pediatric surgeon from Chandigarh found himself in possession of a valuable inheritance when he stumbled upon State Bank of India (SBI) shares purchased by his grandfather back in 1994.
In a remarkable twist of fate, a pediatric surgeon from Chandigarh found himself in possession of a valuable inheritance when he stumbled upon State Bank of India (SBI) shares purchased by his grandfather back in 1994. Dr. Tanmay Motiwala’s unexpected discovery of the forgotten shares, initially valued at Rs. 500, sparked widespread interest after he shared his story on social media.
Motiwala took to social media to recount the unexpected windfall, titling his post “The power of holding equity.” He revealed that his grandparents had purchased SBI shares three decades ago but had since forgotten about them. Unearthing the old share certificates while consolidating his family’s holdings, Motiwala was astonished to find that the shares had never been sold.
The post quickly gained traction, prompting curiosity about the current value of the shares. Motiwala later disclosed that the shares were now worth approximately Rs. 3.75 lakh, an astonishing increase of 750 times over 30 years. Despite the substantial growth, Motiwala expressed no immediate plans to sell the shares, citing his current lack of need for cash.
Motiwala also shed light on the cumbersome process of converting physical share certificates into electronic format, as mandated by SEBI. He recounted seeking assistance from a consultant due to the arduous nature of the process, which often involves addressing discrepancies in personal details on the certificates.
The post elicited a range of reactions from online users, with some marveling at the exponential growth of the shares over the years. Others shared similar experiences of discovering valuable shares left by their ancestors, highlighting the significance of long-term investments in equities.
Since its publication, the post has garnered significant attention, amassing over 886K views on the platform and captivating the imagination of many with tales of unexpected financial windfalls and the power of holding onto investments over time.
