A heartwarming tale has emerged of a couple who, decades ago, purchased SBI shares worth ₹500 but eventually forgot about them. It wasn’t until their grandson took on the task of organizing the family’s assets that the forgotten treasure resurfaced. The discovery of these once-overlooked shares, now valued in lakhs of rupees, has captured the attention of many after the grandson shared the remarkable story on X.
Sharing his revelation, the grandson disclosed, “My grandparents had purchased SBI shares worth ₹500 back in 1994. They had completely forgotten about it, unsure even of why they bought them or if they had retained them.”
He continued, “While consolidating the family’s holdings, I stumbled upon these forgotten share certificates tucked away in a corner. (We had already initiated the process to convert them into 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
Following the viral response to his post, curious individuals inundated him with queries about the current valuation of the SBI shares. “It’s currently valued at around ₹3.75 lakhs, excluding dividends. Though not an enormous sum, considering it’s grown 750 times in 30 years, it’s undeniably significant,” he shared.
Furthermore, he detailed the process of converting the family’s stock certificates into demat form, acknowledging the complexities involved. “We sought assistance from a consultant because the process itself can be arduous and time-consuming, with potential issues like spelling errors, address discrepancies, and signature mismatches. Despite the challenges, with the help of the advisor, we managed to successfully complete the majority of conversions.”
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Expressing his plans, he revealed his intention to retain the shares, citing a lack of immediate need for cash.
https://twitter.com/Least_ordinary/status/1773658125868126591?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1773658125868126591%7Ctwgr%5E61c5083b967fbcd9d8ce6e24ac77614b7b92a2aa%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.hindustantimes.com%2Ftrending%2Fthe-power-of-holding-equity-sbi-shares-worth-rs-500-bought-in-1994-now-stand-at-101711979636886.html
The heartwarming story has garnered widespread attention, with both posts amassing numerous views, likes, and comments from intrigued readers sharing their thoughts on the extraordinary discovery.
Check out how people reacted to these posts here:
The remarkable stories of forgotten investments resurfacing to yield substantial returns continue to captivate audiences, with individuals sharing their own experiences on platforms like X.
One user disclosed, “I had completely forgotten about my investment of ₹25,000 in Kotak’s small-cap fund back in 2005. It wasn’t until I stumbled upon an old document two years ago that I discovered its growth – it’s now sitting at ₹5,30,000, boasting an impressive XIRR of 17.4%.”
Prompting further discussion, another user questioned, “Why is the valuation still relatively low after 30 years?” To which Motiwala responded, “How much more valuation do you need in 30 years? It’s already grown 750 times (roughly between 20-25% CAGR). We’re talking about an initial investment of just ₹500.”
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However, a third user expressed confusion, remarking, “I’m not sure how it’s ₹3.75 lakhs. If you have 50 shares, let’s assume the per-share price is ₹750, so 50×750 = ₹37,500. Am I missing something? Your return in 30 years from ₹10 to ₹750 equals 75x, not 750x. That gives a CAGR of – 15.5%. Still a good return.”
Adding to the conversation, a fourth user noted, “Considering the splits, the valuation should be much higher, somewhere around ₹2.25 crore.”
These diverse perspectives highlight the intricacies and nuances of investment growth, sparking engaging discussions among users on the platform.
