The power of holding equity. Click to know the current prices of SBI shares bought in 1994 for Rs 500
The power of holding equity has been highlighted by a viral post shared by a user, Dr. Tanmay Motiwala, on X (formerly Twitter). Motiwala shared the story of his grandparents who had purchased SBI shares worth ₹500 back in 1994 but had forgotten about them over the years.
The power of holding equity 😊
— Dr. Tanmay Motiwala (@Least_ordinary) March 28, 2024
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
However, when Motiwala was organizing the family’s assets, he stumbled upon the forgotten share certificates from the State Bank of India. He expressed his surprise at the discovery and shared the information on X, where his post quickly went viral.
Motiwala emphasized the significance of holding onto equity over the long term, as demonstrated by his grandparents’ investment.
Despite their initial forgetfulness, the value of the SBI shares had appreciated significantly over the years. He revealed that the shares, which were once worth ₹500, are now valued at around ₹3.75 lakhs, excluding dividends. Motiwala acknowledged that while the amount may not seem substantial, the remarkable growth of the investment over 30 years is indeed noteworthy.
Moreover, Motiwala shared his experience of converting the family’s stock certificates into a demat format. He explained that the process was cumbersome and required the assistance of an advisor due to potential errors in details such as names, addresses, and signatures. Despite the challenges, they managed to convert the majority of their certificates into demat form.
Motiwala concluded by revealing that he plans to hold onto the SBI shares, as he doesn’t currently require cash. His posts have garnered widespread attention, with many users expressing admiration for the story and sharing their own thoughts and experiences in the comments section:
“Demat mein convert karte karte Jaan nikal jayegi aapki”
“your great grandchild will post on Twitter “my dadu bought NIBE at 398 in 2023” in the year 2100
