Viral post: Man discovers grandfather's SBI shares worth Rs 500 bought in 1994, they now cost THIS much
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.
FollowImagine one day discovering when you wake up that your grandparents once purchased shares that are now extremely valuable, and you still own them since they never sold. Not to raise anyone's hopes, but a doctor from Chandigarh happened to be in this lucky situation.
Out of the blue, he discovered that his grandfather had bought SBI (State Bank of India) shares worth Rs. 500 in 1994. To his surprise, he found the share certificate issued back then, indicating that they had never been sold. Dr. Tanmay Motiwala, a pediatric surgeon, started a post on social media titled "The power of holding equity," which quickly went viral.
He reminisced, “My grandparents had purchased SBI shares worth Rs. 500 in 1994. They had forgotten about it. In fact, they had no idea why they purchased it and if they even held it.” Motiwala further revealed, “I found some such certificates while consolidating family’s holdings in a place. (Already had sent for converting them to Demat).”
As anticipated, his tweet went viral and sparked a wave of responses from the internet community. But everyone was curious about what those shares were worth now, and the original poster provided an answer to that query in a later post. He wrote: “It is around 3.75L excluding dividends. Not a big amount but yeah 750x in 30 years. Indeed is big.”
He clarified the drawn-out procedure of transferring the tangible share certificates into his Demat account as well. Before trading or transferring the shares, anybody in possession of physical share certificates must first convert them into an electronic version, per SEBI regulations.
Nevertheless, since being shared, the post has garnered a whopping 886K views on the platform, captivating the attention of many.
