Lost and Found: Man Discovers 40-Year-Old Reliance Shares While Cleaning, Turns Instant Millionaire

New Delhi (The Uttam Hindu): Sometimes, luck arrives when we least expect it, but it takes a sharp eye to recognize its true value. This is exactly what happened to Rattan Dhillon, a car enthusiast who stumbled upon an old document while cleaning his home, only to realize it was worth a fortune. Dhillon discovered physical share certificates of Reliance Industries Limited (RIL) that had been lying unnoticed for nearly 40 years.

The certificates revealed that 30 equity shares were originally purchased in 1988 for Rs. 10 each by a person who has since passed away. Financial experts pointed out that RIL shares now trade for over Rs. 1,200 each. Unfamiliar with the stock market, Dhillon took to social media platform X to seek advice on what to do with the shares.

His post, shared at 9 AM on March 11, quickly went viral, attracting over a million views. Many users responded, helping him calculate the current worth of the shares. The Investor Education and Protection Fund Authority (IEPFA) stepped in, offering guidance on how Dhillon could check the status of his shares. They suggested using the search feature on the IEPFA website to determine whether the shares were still in his name or had been transferred to the IEPFA due to being unclaimed. Zerodha, India's leading stock brokerage, also offered assistance in understanding the process.

Over the years, the shares had undergone multiple stock splits and bonus issues, which increased the holding to 960 shares, now estimated to be worth around Rs. 11-12 lakh. One user, Tiger Ramesh, provided a rough breakdown: "Initially 30 shares. After three splits and two bonuses, it should be 960 shares now. Today's approximate value: Rs. 11.88 lakh."

Other users chimed in with advice. One suggested, "You've hit a jackpot! Get these converted to demat form. DM me if you need help." Another humorously commented, "Rattan bhai, check your house properly—who knows, you might find some MRF shares too!" Several users offered guidance on the process of converting physical shares to a digital format. One explained, "You need to email the company with proof. They'll verify the documents, and once approved, the shares will be credited to your demat account."

As of Tuesday, Reliance Industries' stock closed at Rs. 1,247.40, gaining Rs. 9.20 or 0.74%. Meanwhile, Morgan Stanley predicted the stock could see a 29% rise from its previous close, setting a target price of Rs. 1,606 per share, and maintaining an "overweight" rating due to strong growth prospects and favorable valuations.

Dhillon’s fortunate discovery serves as a reminder of how life can surprise us in unexpected ways, and sometimes, the value of what we find is far greater than we could ever imagine.