A heartwarming tale of rediscovered investments has captivated social media, as Dr. Tanmay Motiwala recounted his grandparents’ unexpected discovery of long-forgotten State Bank of India (SBI) shares. Motiwala shared the story on platform X, revealing that his grandparents had invested ₹500 in SBI shares back in 1994, only to forget about it entirely over the years.
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
The post quickly gained traction as Motiwala detailed how, during a consolidation of the family’s holdings, they stumbled upon the old SBI share certificates. Realizing the potential value of these forgotten investments, Motiwala promptly sent them for conversion to Demat.
What was once an untouched investment has now multiplied into a substantial sum, amounting to lakhs of rupees. Motiwala revealed that the current valuation of the SBI shares stood at ₹3.75 lakh, representing an impressive 750x returns over three decades.
Motiwala’s story underscores the enduring strength of equity investments and the remarkable growth potential they offer over the long term. He emphasized “the power of holding equity,” highlighting the importance of patience and commitment in investment strategies.
However, converting the old share certificates into dematerialized form posed its challenges, as Motiwala shared. He explained that they sought the assistance of an advisor due to the cumbersome and lengthy process involved, which included addressing issues such as spelling errors, address discrepancies, and signature mismatches. Despite the challenges, they persevered and successfully completed the conversion for the majority of the certificates.
SBI’s share price has witnessed significant growth over the years, with a notable increase of over 44% in the past year and more than 104% over three years. As of April 1, SBI shares were trading at ₹758.20 apiece on the BSE, reflecting the positive trajectory of the stock.
