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Monday, February 24th, 2020

Amitabh Bachchan's Bitcoin investment gain wasn't 1st for him, Big B also made it big earlier

by December 22, 2017 General
The Superstar, Padma Vibhushan recipient, Shehenshah of Bollywood — Amitabh Bachchan. (Image: Reuters)

Amitabh Bachchan, the Shehenshah of Bollywood recently captured everyone’s eye making millions of money by investing in company indirectly related to Bitcoins but this wasn’t the first time when BigB has made big bucks out of his investment picks. Two and a half years ago, the Amitabh Bachchan invested in a Singapore based company called Meridian Tech Pte. Reportedly, another company named LongFin Corp acquired the main asset of Meridian Tech Pte — As Amitabh Bachchan held shares in Meridian Tech Pte therefor after the acquisition happened Amitabh Bachchan’s investment worth $250,000 gave a whopping return of $17,500,000 ($17.5 million). Earlier on 15 December 2017, when Ziddu was listed on America’s NASDAQ, LongFin Corp announced to acquire it, following the development, LongFin shares skyrocketed as much as 2,500%. The company described itself as “a Blockchain technology empowered solutions provider” that offers microfinance using “cryptocurrencies across continents.”

But this wasn’t for the first time when Amitabh Bachchan has got his investment right. We take a look at his past investments and what he made out of it.

Just Dial

Being the brand ambassador of Just Dial, Amitabh Bachchan was entitled to hold about 60,000 shares at a price of Rs 10 per equity share. The stock of Just Dial went on to a continuous rising streak till mid-2014 and made an all-time high around Rs 1,800. One can imagine how much money Amitabh Bachchan would make if he sold even just a part of his shareholding in Just Dial at that price at that time. The stock has not done particularly well since then, and its current market price is Rs 489.95.

Other investments

In the year 2011, Amitabh Bachchan bought around 16 lakh shares for Rs 1.6 crore (approx) in Birla Pacific Medspa at Rs 10 per equity share. Birla Pacific Medspa is a spa company promoted by Yash Birla. Later, things didn’t turn out well for the company and the stock crashed. It’s last traded price was Rs 0.27 on BSE and the share is now suspended from trading activities due to penal reasons, as per BSE.

In 2014, Amitabh Bachchan invested in Stampede Capital, a financial technology firm. He bought as much as 1.1 lakh shares at a price of Rs 88 per equity share. The stock of Stampede Capital skyrocketed to a level of Rs 520 in the year 2015. The current market price of the stock is Rs 8.71 after a split in a ratio of 1:10 in 2015 and a bonus issue in the ratio of 1:4. Bachchan Sahab also bought about 3 lakh shares of Finotech Chemicals, at around Rs 160 per equity share.

The unmatched global megastar, Padma Vibhushan recipient along with with a signature baritone voice, Amitabh Bachchan is one of the most respected Indian celebrity who also has interests in wealth maximisation. Over a career spanning more than four decades, Amitabh Bachchan has invested a decent amount in stock markets, businesses, and few own ventures. Amitabh Bachchan hosted seven seasons of Kaun Banega Crorepati, one of the most popular game show, and recently finished off hosting the ninth edition of it. Amitabh Bachchan has starred in about 223 movies so far which includes the blockbusters from Sholay — one of India’s most favourite film — to latest flicks such as Pink, Piku, Paa, etc. Amitabh Bachchan had done his graduation from Kirori Mal College, Delhi University.