Viral: Doctor Finds Grandfather's Investment Of ₹ 500 in 1994 SBI Shares, Now Worth…

Imagine one day you wake up and learn that your grandparents left some shares that are now worth lakhs of rupees. How will you feel? Well, something just like this happened with a doctor in Chandigarh when he found some stock investments made by his grandfather. Dr. Tanmay Motiwala, a paediatric surgeon, was organising his family’s assets and found share certificates from the State Bank of India. Then he checked that his grandfather had bought some shares worth ₹ 500 in 1994. His grandfather never sold these shares and even forgot about them after buying them. The ₹ 500 investment that Tanmay’s grandfather made in 1994 is now worth ₹ 3.75 lakh, which is approximately 750x of the initial amount. He further emphasised the power of holding equity if you get it right, as he wrote, “But I guess the underlying message was the power of holding equity over long time (if u get it right) and not the maths behind it or bragging anything. It would be some 16% CAGR I guess. Thanks for the correction to whoever pointed out.” Dr Tanmay Motiwala wrote in his 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 place. (Already had sent for converting them to Demat).” 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 Further in his post, he explained how he got the certificates converted into a demat. He also shared the buying price or the current value. He said, “So the share price opened at a premium at IPO listing and the buying price would be 5000 and not 500.I didn't know this part as i calculated on face value based on certificate I found. End value stays the same. Again 3.7L or 5L is not a big amount for many people ( accounting for the 1:10 split which makes it 500 shares) But I guess the underlying message was the power of holding equity over long time (if u get it right) and not the maths behind it or bragging anything. It would be some 16% CAGR I guess. Thanks for the correction to whoever pointed out 🙏🏻Copy to anyone who made news out of that tweet. Please don't fall for catchy headlines.” Got it from my advisor. So sharing it as a correction 🙏🏻 As this tweet got viral, he got it and one gentleman shared it on DM just now. So the share price opened at a premium at IPO listing and the buying price would be 5000 and not 500.I didn't know this part as i…— Dr. Tanmay Motiwala (@Least_ordinary) April 2, 2024 One of the users wrote in the comments and said, “it happened with me too , my grandfather had 500 shares of SBI, he was am employee , somehow after my fathers death , I got these bonds I was 17 later went to nearer share broker and after some procedure we were able to sell, this how I started to invest in equity.”Another user said, “50 shares in 1994, stock split its fv 1:10 in 2014, means you hold 500 SBIN today. Am I right?”

Advertisement

Viral: Doctor Finds Grandfather's Investment Of ₹ 500 in 1994 SBI Shares, Now Worth…

Chandigarh doctor finds forgotten SBI shares worth lakhs from grandfather's investment in 1994, emphasises equity's long-term potential.

Advertisement