SBI shares: In a captivating narrative of overlooked investments resurfacing, a family’s surprising revelation of long-forgotten State Bank of India (SBI) shares has captured attention on social media. Dr. Tanmay Motiwala, a user on platform X(Twitter), recounted the fascinating tale of his grandparents’ ₹500 investment in SBI shares three decades ago and its current substantial value.
In 1994, my grandparents bought SBI shares worth ₹500, completely forgetting about it. They were clueless about the purchase and whether they still held it, wrote Motiwala in his post, which swiftly gained momentum.
He uncovered such SBI share certificates when combining his family’s possessions and stated that he had already sent them to be converted to Demat.
Once unaltered, the initial investment has now grown to be a sizeable quantity of lakhs of rupees.
He said that the SBI shares were currently valued at ₹3.75 lakh, providing him with 750 times profits over three decades.
“Without dividends, it is around 3.75L. It’s not much, but 750 times over 30 years is a lot. It is indeed large,” he said.
The discovery made by Motiwala highlighted the long-term value of equities investing. “The power of holding equity,” he emphasized in his post, highlighting long-term investments’ exceptional development potential.
He also disclosed the challenges he faced in converting the old share certificates into dematerialized (Demat) forms, emphasizing that the process was not without its difficulties.
“We sought assistance from an advisor/consultant because the process itself is arduous and time-consuming (with potential spelling errors, address mismatches, signature discrepancies, etc.). Even with their help, it took time, but we managed to complete it for the majority of certificates,” wrote Motiwala.
SBI shares
The SBI share price has surged by over 44% in the last year, with the stock showing a remarkable increase of more than 104% over the past three years.
Also Read: LIC share price
By the end of the trading session on April 1, SBI shares were priced at ₹758.20 each on the BSE.
