Lost Fortune Found: From ₹500 In 1994 To...? X User Uncovers Grandparents' Forgotten SBI Shares Worth 750x In 30 Years!

Lost Fortune Found: From ₹500 In 1994 To...? X User Uncovers Grandparents' Forgotten SBI Shares Worth 750x In 30 Years!

"Not a big amount but yeah 750x in 30 years. Indeed, it is big," he wrote.

Oliviya KunjumonUpdated: Tuesday, April 02, 2024, 12:13 PM IST
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Ever wondered what would happen if you forgot about money you invested years ago and curious to know about its current valuation? Let's find out!

Dr. Tanmay Motiwala, a Pediatric Surgeon and co-founder of Pro School Health, recently shared an intriguing story on the social media platform X (formerly Twitter) about his family's unexpected discovery about a set of forgotten State Bank of India (SBI) shares worth Rs 500 purchased by his grandparents in 1994.

Hidden Treasures: From Stock Certificates to Digital Holdings

In an X post, Dr. Motiwala recounted upon the long-lost stock certificates while consolidating the family's financial assets.

"My grandparents had purchased SBI shares worth 500 Rs in 1994. They had forgotten about it. In fact, they had no idea why they purchased it and if they even hold it," he shared.

From Rs 500 to Rs 3.75 Lakhs

In a further post, responding to the inquiries about the current valuation of the shares, Dr. Motiwala disclosed the amount: "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 wrote.

Now, about the process of converting the family's stock certificates into a more manageable Demat format, Dr. Motiwala shared the process. He wrote, "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.

About the charges, Dr. Motiwala, in the X post said, "They are variable for different advisors. We chose it based on his availability in our home town."

With plans to hold onto the investment, Dr. Motiwala expressed no immediate need for cash: "What am I planning to do with it? Keep holding it. No need of cash right now."

SBI Shares

The shares of SBI on Tuesday at 11:15 am IST were trading at Rs 759.10, up by 0.11.

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