When going through his family assets, a pediatric surgeon found his grandfather’s SBI shares worth Rs. 500. Finding treasures is not just for explorers. It happens sometimes in the most unexpected places, like your financial archives. This is what happened recently in Chandigarh’s home. While the news itself seems a bit ordinary, today’s stock value of those 30-year-old SBI Shares will surprise you.
Value now
The doctor, in an interview, revealed that the present-day value of those shares is Rs. 3.75 lakh. This simply equates to 750X tax returns within three decades. This value and news present a sheer example of how we underscore the power of equity investment.
Tanmay Motiwala’s grandfather bought the shares in 1994 but never actually sold them. One may stipulate that he totally forgot about the shares.
The SBI Shares post
The news came from a post on social media, in which Tanmay Posted “My grandparents purchased SBI shares worth 500 ₹ in 1994. They had forgotten about it. They had no idea why they purchased it and if they even held it. I found some such certificates while consolidating family’s holdings in a place.”
Along with this post, he also posted a pic of the shares including the holder’s name and details, along with the mark and logo of the State Bank of India.
Many people commented to satisfy their curiosity hormones, asking about the shared values now.
To one comment, Tanmay replied “So many people asked about its valuation currently. It is around Rs 3.75 lakh excluding dividends. Not a big amount but yeah 750x in 30 years. Indeed is big.”
In the post, he also mentioned how he got the stock certificate turned into a demat. He wrote “We 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). Even with an advisor, it took time but we have been able to do it for the majority of certificates”
Tanmay has decided to keep hold of the shares as those were precious to him and he is not interested in money. Check out his profile here.
The event is an example of how far have we come, the level of inflation we are facing, and how, even after 750 times the value, the shares still hold a small value in today’s tax-driven world.
Read more interesting topics about SBI here.