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Chandigarh doctor unearths grandfather's Rs 500 SBI shares from 1994, now valued at...

Written by  Annesha Barua -- April 02nd 2024 02:15 PM
Chandigarh doctor unearths grandfather's Rs 500 SBI shares from 1994, now valued at...

Chandigarh doctor unearths grandfather's Rs 500 SBI shares from 1994, now valued at...

PTC News Desk: A pediatric surgeon in Chandigarh, Dr. Tanmay Motiwala, stumbled upon a remarkable discovery while organising his family's assets. Amidst the paperwork, he unearthed share certificates from the State Bank of India (SBI) dating back to 1994. The certificates revealed that his grandfather had invested Rs 500 in SBI shares during that year.

The revelation left Dr. Motiwala pleasantly surprised, as his grandfather had never sold the shares and had even forgotten about them over the years. However, the enduring power of equity investment became evident as Dr. Motiwala disclosed that the initial Rs 500 investment had multiplied substantially over three decades. The SBI shares, now valued at Rs 3.75 lakh, yielded remarkable returns of 750 times their original investment.

Taking to social media platform X, Dr. Motiwala shared his astonishment, stating, "My grandparents had purchased SBI shares worth Rs 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."

He further elaborated on the process of converting the family's stock certificates into dematerialised (demat) form, seeking assistance from a financial advisor. Despite encountering hurdles such as spelling errors, address mismatches, and signature discrepancies, Dr. Motiwala managed to streamline the process for the majority of certificates.

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Expressing his future plans, Dr. Motiwala mentioned his intention to retain the shares, citing no immediate need for cash.

Following his viral post, numerous individuals shared similar anecdotes, underscoring the value of long-term investments and the wisdom passed down through generations. One commenter remarked, "This is a real investment. We should learn from our elders," while another shared a personal experience, highlighting the journey from inherited shares to venturing into equity investment.

Dr. Motiwala's revelation serves as a testament to the potential hidden within long-forgotten investments and the importance of diligent financial planning for future generations.

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(Inputs from agencies)



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