Man finds forgotten Reliance shares bought 37 years ago for ₹30, now worth ₹12 lakh
A Chandigarh-based X user shared pictures of two share certificates he recently discovered at home. The certificates were issued by Reliance Industries Limited, which Asia’s richest man Mukesh Ambani is currently leading, in February 1987 and December 1992 for 20 and 10 shares respectively.
The X user, who describes himself as a rally driver and auto enthusiast, said he has no idea about the stock market.
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“Can someone with expertise guide us on whether we still own these shares?” the user, Rattan Dhillon, added tagging Reliance Group’s X account.
An X user replied to the auto enthusiast’s post and shared a rough approximate calculation for the shares’ current value. After three splits and two bonuses, the 30 shares should now be equal to 960 shares, according to the X user. As per Wednesday’s closing value of Reliance Industries’ shares, the shares owned by the man are now worth over ₹12 lakh.
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The government’s Investor Education and Protection Fund Authority (IEPFA) replied to Dhillon and said his shares might have been transferred to IEPF if they had remained unclaimed for a certain period of time.
The authority said Dhillon, like other users, can verify if that is the case by logging on here and using the new Search Facility. When he responded to IEPFA and said the facility did not give a result for his query, IEPFA asked for his folio and contact numbers.
Zerodha also reached out to Dhillon and offered help.
Netizens react: ‘Lottery lag gayi apki’
Several X users reacted to Dhillon’s post and expressed amusement. “Oh bhai, lottery lag gayi apki (My brother, you hit a jackpot),” an X user said.
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Another user suggested Dhillon to not convert the shares to demat and instead keep them in remat format. He said keeping them as they are will allow Dhillon to resist temptation to sell the shares over a short term, which would keep him from availing even bigger returns.
“Bhai, you are a lakhpati now,” a third user said.
“Rattan bhai, aur acche se ghar chaan maro, kya pata MRF ke bhi nikal aayein kuch shares (Rattan, search your house more. You might just find MRF shares too),” a fourth X user said.
