Doctor stumbles upon grandfather's SBI shares worth Rs 500 bought in 1994. Guess what it is worth now?
The doctor revealed that the SBI shares are now worth ₹3.75 lakh, giving him 750x returns in three decades, underscoring the power of equity investment.
- Apr 2, 2024,
- Updated Apr 2, 2024 11:52 AM IST
While going through his family's assets, a Chandigarh-based pediatric surgeon was surprised to find share certificates worth Rs 500 bought by his grandfather from the State Bank of India.
Tanmay Motiwala's grandfather bought the shares in 1994 but he never sold them and probably forgot about the entire thing.
The doctor revealed that the SBI shares are now worth ₹3.75 lakh, giving him 750x returns in three decades, underscoring the power of equity investment.
"My grandparents 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," Motiwala wrote in his post.
"So many people asked about its valuation currently. It is around Rs 3.75 lakh excluding dividends. Not a big amount but yeah 750x in 30 years. Indeed is big,'' he added.
In his post, he also explained how he got the stock certificates turned into a demat. ''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 wrote.
The doctor is planning to hold these shares as he doesn't need cash.
While going through his family's assets, a Chandigarh-based pediatric surgeon was surprised to find share certificates worth Rs 500 bought by his grandfather from the State Bank of India.
Tanmay Motiwala's grandfather bought the shares in 1994 but he never sold them and probably forgot about the entire thing.
The doctor revealed that the SBI shares are now worth ₹3.75 lakh, giving him 750x returns in three decades, underscoring the power of equity investment.
"My grandparents 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," Motiwala wrote in his post.
"So many people asked about its valuation currently. It is around Rs 3.75 lakh excluding dividends. Not a big amount but yeah 750x in 30 years. Indeed is big,'' he added.
In his post, he also explained how he got the stock certificates turned into a demat. ''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 wrote.
The doctor is planning to hold these shares as he doesn't need cash.