Forgotten SBI shares worth ₹500 bought in 1994 make a windfall for a family; sparks social media frenzy
₹500 in SBI shares 30 years back and its total value now. “My grand parents had purchased SBI shares worth ₹500 in 1994. They had forgotten about it.
Infact they had no idea why they purchased it and if they even hold it," Motiwala wrote in his post, which quickly gained traction. He found such SBI share certificates while consolidating family’s holdings in a place and said that he had already sent them for converting to Demat. The initial investment once left untouched, has now multiplied into a substantial sum, reaching lakhs of rupees.
Upon the current valuation of those SBI shares, he said that they were worth ₹3.75 lakh, giving him 750x returns in three decades. “It is around 3.75L excluding dividends. Not a big amount but yeah 750x in 30 years.
Indeed is big," he shared. Motiwala’s revelation emphasized the enduring power of equity investment. “The power of holding equity," he wrote in his post, underlining the remarkable growth potential of long-term investments.
Also Read: Demat Account: How to choose between full-service and discount brokers? He also revealed how he converted the old share certificates into a dematerialized (demat) form, which according to him, was not without its challenges. “We actually took the help of an advisor/ consultant. Because the process itself is very painful and long (There may be spelling errors in name, address, signature mismatch etc etc).
Even with an advisor it took time but we have been able to do for majority of certificates," Motiwala wrote. SBI share price has risen over 44% in the past one year, while the stock is up more than 104% in three years. At the close of the trading session on April 1, SBI shares were at ₹758.20 apiece on the BSE.
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