A Chandigarh doctor discovered that his grandfather had bought SBI (State Bank of India) shares worth ₹ 500 in 1994.
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 ₹ 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 ₹ 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:
The power of holding equity 😊
My Grand parents 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… pic.twitter.com/GdO7qAJXXL
— Dr. Tanmay Motiwala (@Least_ordinary) March 28, 2024