A Pediatric surgeon stumbled upon forgotten SBI shares bought for Rs 500 by his grandparents almost 30 years ago. Here is what they are worth now
Investment stories have this strange knack for grabbing netizens' attention, as they often add a bit of humor into the otherwise mundane bull and bear world. In a recent such story, a Pediatric Surgeon stumbled upon long-forgotten State Bank of India (SBI) shares, capturing the attention across the digital space.
Dr. Tanmay Motiwala took to X (formerly Twitter) to share his grandparent's investment portfolio, who had invested just Rs 500 in SBI three decades ago.
Rightfully calling it 'the Power of Equity' Motiwala wrote in a post, "My Grandparents 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 place. (Already had sent for converting them to Demat)" he added.
As soon as the post started gaining attention, netizens were curious about how much those shares were worth now, to which Motiwala later replied, “It is around 3.75L excluding dividends. Not a big amount but yeah 750x in 30 years. Indeed is big.”
He also discussed the tiring process task of transferring the physical share certificates into his Demat account, as individuals holding physical share certificates are required to convert them into electronic format before they can trade or transfer the shares.
"Seems like so many people are facing this issue. We actually 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 etc). Even with an advisor it took time but we have been able to do for majority of certificates," he added in the post.