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economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
Chandigarh man unearths 37-year-old Reliance shares worth Rs 12 lakh, ignites social media frenzy
forgotten financial windfall, discovering decades-old Reliance Industries Ltd (RIL) shares originally purchased in 1988, now valued at approximately Rs 12 lakh. The revelation has triggered a wave of social media reactions, ranging from financial advice to lighthearted banter.
Rattan Dillon, a car enthusiast from Chandigarh, found physical share certificates of RIL during a spring cleaning session. The documents revealed that the original shareholder—now deceased—had acquired 30 equity shares at Rs 10 each. Unfamiliar with stock market procedures, Dillon turned to social media for guidance.
From 30 to 960 RIL shares: The power of stock splits and bonuses
A user named Tiger Ramesh did the math, explaining that due to multiple corporate actions—three stock splits and two bonus issues—the original 30 shares had multiplied into 960 shares. At current market prices, this translated to an estimated worth of Rs 12 lakh.
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«Rough approximate calculations: Total initial shares = 30. After 3 splits and 2 bonuses, it should be 960 shares today. Today’s value approximate Rs 11.88 lakh,» Ramesh wrote.
The road to demat
Social media users were quick to offer advice on the next steps. One commenter outlined the process of converting physical shares into digital format, known as Dematerialization (Demat):
«You have to email them with the attached proof, and they have their process to credit these to your Demat. You’ll need to bring these to their office for verification, and then they will credit these shares
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