A family's surprising discovery of long-lost State Bank of India (SBI) shares has gone popular on social media, making for an intriguing narrative of investments that are forgotten and then come to light. A user on platform X named Dr. Tanmay Motiwala told a gripping tale about his grandparents' ₹500 investment in SBI shares thirty years ago and its current entire worth.
"In 1994, my grandparents invested ₹500 in SBI shares. It had slipped their minds. In fact, they didn't know why they bought it or even whether they still had it," Motiwala said in his widely shared piece.
When organizing his family's assets, he came across these SBI share certificates and claimed to have previously sent them for conversion to Demat. Once unaltered, the initial investment has now grown to be a sizeable quantity of lakhs of rupees.
He said that the SBI shares were currently valued at ₹3.75 lakh, providing him with 750 times profits over the course of three decades.
"Without dividends, it is around 3.75L. It's not much, but 750 times over 30 years is a lot. It is indeed large," he said.
The discovery made by Motiwala highlighted the long-term value of equities investing. "The power of holding equity," he emphasized in his essay, highlighting long-term investments' exceptional development potential.
He also disclosed the difficulties he had while converting the outdated share certificates into a dematerialized (demat) form.
"In reality, we enlisted the assistance of a consultant/advisor. Due to the lengthy and agonizing nature of the process itself (spelling mistakes in names, addresses, signatures, etc.). We were able to complete most certificates even with the help of an advisor, although it took some time," Motiwala noted.
In the last year, the price of SBI's shares has increased by over 44%, and over 104% in the last three years. SBI shares were trading at ₹758.20 a share on the BSE at the end of the business day on April 1.
