Man Discovers Hidden Fortune in Old Documents

NEWS CHARIOT:-A surprising incident took place in Chandigarh, where a local man named Ratan experienced an unexpected stroke of luck. While searching through an old cupboard at his home, he stumbled upon some old documents that turned out to be worth nearly ₹12 lakh. The discovery has since gone viral on social media, with financial experts weighing in on the matter.

Ratan discovered agreement papers for shares his father had purchased in Reliance Industries Limited (RIL) in 1988. At that time, his father had bought 30 shares for ₹10 each. Ratan shared this revelation on Twitter, leading to a flood of comments from trade experts. Many users were amazed at how a small investment decades ago had transformed into a significant sum today.

According to Ratan Dhillon’s tweet, his father’s 30 RIL shares, initially valued at ₹10 each, have now grown significantly. Over the years, stock splits and multiple bonus issues have dramatically increased the number of shares. Given the current RIL stock price of around ₹1,255, their total worth is estimated at approximately ₹12.05 lakh. Financial analysts have called this a prime example of the power of long-term investing.

Following Ratan’s discovery, social media users and investment experts have shared their thoughts. Some have praised the power of holding investments for the long term, while others have advised investors to keep track of their assets to avoid unclaimed shares being transferred to government funds.

The Investor Education and Protection Fund Authority (IEPFA) responded to Ratan’s post, suggesting that since the shares remained unclaimed for a long time, they might have been transferred to IEPF. If so, Ratan must follow an online process to reclaim and transfer them to his Demit account. Financial experts and even Zerodha founders have stepped in to assist him in navigating the claim process.

Since Reliance Industries was listed in the 1970s, the company has announced bonus shares six times. These include a 3:5 bonus in 1980, 6:10 in 1983, and a 1:1 bonus in 1997, 2009, 2017, and most recently in 2024. The multiple bonuses and stock splits have significantly increased the number of shares from the original 30, further boosting their value.

This incident highlights the importance of tracking investments over time. Investors are advised to periodically check old records, maintain updated contact details with their brokers, and ensure that their assets are actively managed to avoid losing them to unclaimed funds. This discovery serves as a lesson for all investors.

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