What Luck! Man Finds Grandfather's SBI Shares Bought In 1994 For Rs 500, They're Now Worth Rs 3.75 Lakh
Don¡¯t we all have a fantasy that one day our families will tell us about the hidden riches and take us out of our misery? So many memes and jokes are made around this particular situation which has also been an inspiration behind many Bollywood movies.
One man actually lived it! Well, not so much as a big treasure but a Chandigarh doctor was left pleasantly surprised when he came across some old investments made by his grandfather.?
Dr Motiwala Discovered His Grandfather's Investment In SBI Shares Which Was Done Back In 1994
Pediatric surgeon Dr. Tanmay Motiwala was sorting through the family's financial holdings when he came across share certificates issued by the State Bank of India. To his surprise, he learned that his grandfather had purchased SBI shares valued at Rs 500 in 1994. Remarkably, his grandfather had held onto these shares without selling them and had even forgotten about their existence.
Those Shares Which Were Bought At A Valuation Of Rs 500 Are Now Worth Rs 3.75 Lakh
The initial investment has grown exponentially over the years, highlighting the long-term potential of equity investments. Dr. Motiwala disclosed that the value of the SBI shares has soared to Rs 3.75 lakh, resulting in an impressive 750-fold increase in value over the span of three decades.
Dr Motiwala took to X and wrote,?
''My Grandparents had purchased SBI shares worth 500 ? in 1994. They had forgotten about it. They had no idea why they purchased it and if they even held it. I found some such certificates while consolidating family's holdings in a place.''
''So many people asked about its valuation currently. It is around 3.75L excluding dividends. Not a big amount but yeah 750x in 30 years. Indeed is big,'' he added.?
He also elaborated on the process of converting his family's stock certificates into a dematerialized (demat) form.
''We took the help of an advisor/ consultant. Because the process itself is very painful and long (There may be spelling errors in name, address, signature mismatch etc). Even with an advisor, it took time but we have been able to do it for the majority of certificates,'' he posted.?
Instead of encashing these shares, he is planning to hold on to these shares as he isn't in need of cash.
