The initial investment has now multiplied into a substantial sum
A doctor in Chandigarh was left pleasantly surprised after he stumbled upon some old investments made by his grandfather. Dr. Tanmay Motiwala, a pediatric surgeon, was organising the family's assets when he found share certificates from the State Bank of India. He discovered that his grandfather had bought SBI shares worth Rs. 500 in 1994. However, his grandfather never sold them and even forgot about it.
The initial investment has now multiplied into a substantial sum, emphasising the enduring power of equity investment. The doctor revealed that the SBI shares are now worth ₹3.75 lakh, giving him 750x returns in three decades.
In a post on X, Dr Motiwala wrote, ''My Grandparents had purchased SBI shares worth 500 Rs 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.
Here is the post:
In his post, he also explained how he got his family stock certificates converted 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.
He further revealed he is currently planning to hold these shares as he doesn't need cash.
Since being shared, his post has gone viral, with people sharing similar stories. Reacting to his post, one said, ''This is a real investment. We should learn from our elders.''
Another wrote, ''It happened with me too, my grandfather had 500 shares of SBI, he was an employee, somehow after my father's death, I got these bonds I was 17 later went to nearer share broker and after some procedure, we were able to sell, this how I started to invest in equity.''