SBI Shares: A doctor hailing from Chandigarh was left pleasantly surprised following he found share certificates from the State Bank of India (SBI) purchased by his grandfather. Dr. Tanmay Motiwala, a pediatric surgeon.
He found the document while organising the family’s assets and he got stunned after discovering that his grandfather had bought SBI shares worth Rs 500 in 1994. Since the purchase of the stocks, his grandfather never sold them. He even forgot about the same.
The power of holding equity 😊
My Grand parents had purchased SBI shares worth 500 Rs in 1994.
They had forgotten about it. Infact they had no idea why they purchased it and if they even hold it.I found some such certificates while consolidating family’s holdings in a… pic.twitter.com/GdO7qAJXXL
— Dr. Tanmay Motiwala (@Least_ordinary) March 28, 2024
After the span of 30 years, the initial investment of Rs 500 have multiplied 750 times, emphasising the enduring power of equity investment. The doctor unveiled the total amount of the SBI share in terms of today’s rate. The share are wroth Rs 3.75 lakh.
In a recent post on X, Dr. Motiwala shared a surprising discovery about his grandparents’ investment in SBI shares back in 1994. Initially forgotten, these shares, valued at Rs 500 at the time of purchase, have now grown to approximately Rs 3.75 lakhs, excluding dividends, over 30 years – a remarkable increase of 750 times.
Dr. Motiwala also detailed the process of converting his family’s stock certificates into demat form with the help of an advisor/consultant. Despite encountering challenges like spelling errors, address discrepancies, and signature mismatches, they successfully navigated the process for most certificates.
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Expressing his intent to hold onto the shares rather than cashing out, Dr. Motiwala’s post has resonated widely, with many sharing similar anecdotes. One commenter hailed it as a valuable lesson in investment, while another recounted their own journey of discovering and eventually selling their grandfather’s SBI shares, which sparked their own interest in equity investing.
