Doctor stumbles upon 30-year-old SBI shares purchased by grandparents, leaves internet amused

According to Dr Motiwala, while consolidating his family’s financial holdings, he stumbled upon old share certificates tucked away in a forgotten corner. The discovery prompted him to share a photo of the certificates on social media, sparking a wave of reactions.

“Got it from my advisor. So sharing it as a correction. As this tweet got viral, he got it and one gentleman shared it on DM just now. So the share price opened at a premium at IPO listing and the buying price would be 5000 and not 500,” the user explained.

“I didn’t know this part as I calculated on face value based on the certificate I found. End value stays the same. Again, 3.7L or 5L is not a big amount for many people (accounting for the 1:10 split which makes it 500 shares). But I guess the underlying message was the power of holding equity over the long term (if you get it right) and not the maths behind it or bragging about anything,” the user further added.

The power of holding equity 😊

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

— Dr. Tanmay Motiwala (@Least_ordinary) March 28, 2024

Dr Motiwala also expressed gratitude for the correction provided by an anonymous individual who pointed out the discrepancy in the share price calculation. “It would be some 16% CAGR I guess. Thanks for the correction to whoever pointed it out. Copy to anyone who made news out of that tweet. Please don’t fall for catchy headlines,” the user emphasised.

A user replied to the post and explained, “With a share split of 1:60 in 2008 and further split of 1:10 in 2014. You are holding 30,000 shares of SBI.. And at today’s market prices.. That’s 2 CRORE 30 LAKH RUPEES.”

Another added, “What is the use your grand parents only lost 500 rs and did not enjoy the fruit of the deal.” And a third wrote, “Even I found a copy of investment worth Rs 1000 by my father around 1991-92. Looks like a MF. That fund doesn’t exist now; maybe name changed. Don’t know if SBI would be able to help. Should I walk in to SBI or is there any helpline number?”