A pediatric surgeon in Chandigarh, Dr. Tanmay Motiwala, recently made a surprising discovery while organizing his family's assets. Between the documents, he stopped upon forgotten share certificates from the State Bank of India (SBI), purchased by his grandfather back in 1994 for a mere Rs 500. This seemingly small investment, left untouched for three decades, has now grown into a substantial asset valued at Rs 3.75 lakh.
Dr. Motiwala's revelation, which was posted on social networking platform X, instantly gained popularity, showing the long-term potential of equity investments. His message attracted worldwide interest, creating debates about financial literacy and the value of hanging onto investments over time.
According to Dr. Motiwala, his grandparents had no recollection of purchasing the SBI shares, emphasizing the element of surprise in their discovery. While consolidating his family's financial holdings, he stumbled upon the old share certificates, prompting him to initiate the process of converting them into a demat format for modernization and ease of management.
Initially, Dr. Motiwala's post boasted about the shares' current value skyrocketing by 750 times, but a subsequent correction clarified that the initial investment was actually Rs 5,000 due to a premium at the IPO listing, not Rs 500 as initially stated. However, the final value of Rs 3.75 lakh remained unchanged, demonstrating significant growth over the years.
Acknowledging the assistance of a financial advisor or consultant in navigating the conversion process, Dr. Motiwala highlighted the challenges involved, including spelling errors, address mismatches, and signature issues. Despite the hurdles, the majority of the certificates were successfully modernized.
Dr. Motiwala expressed his intention to hold onto these shares, citing no immediate need for cash. His story resonated widely, prompting others to share similar stories and insights into inherited investments.
One person’s comment highlighted the importance of learning from elders' investment wisdom, while another shared their experience of selling inherited shares to kickstart their own investment journey.
Among the reactions, questions arose about the accuracy of growth rate calculations and the significance of the investment amount relative to historical salaries. Nevertheless, Dr. Motiwala's post sparked engagement and reflection on the power of long-term equity investments and the value of financial literacy.
(Input from various resources)
(Rehash/Susmita Bhandary/MSM)
