How Groww Largecap Fund (formerly known as Indiabulls Blue Chip Fund) survived The 2018 NBFC Crisis
IL&FS defaulted and India's shadow-banking system seized up. While the Sensex fell a modest 14%, mid- and small-cap funds crashed 25-40% — the crash that taught a generation the difference between index pain and portfolio pain.
The fall
-14.7%
28 Aug 2018 → 26 Oct 2018
Index fell
-14%
Sensex, peak to trough
Recovery time
7 mo
peak regained 20 May 2019
₹1L at the peak → today
₹1,99,258
worst-possible timing, held on
The full round trip
NAV from 1 Aug 2018 to 20 May 2019 — peak ₹21.57, bottom ₹18.39, peak regained 20 May 2019.
The ₹1 lakh stress test — invested at the worst possible moment
| Invested at the pre-crash peak (28 Aug 2018) | ₹1,00,000 |
| Value at the bottom (26 Oct 2018) | ₹85,257 |
| Value one year after the peak | ₹94,390 |
| Value today (3 Jul 2026) | ₹1,99,258 |
The lesson isn't that crashes don't hurt — it's that selling at the bottom turns a temporary fall into a permanent loss. The investor who bought at the absolute worst day and simply held is in profit today.
The unluckiest SIP experiment
Imagine starting a ₹10,000/month SIP on the exact peak day — the single unluckiest start date possible — and continuing for 24 months straight through the crash:
Invested
₹2,40,000
Worth today
₹5,12,332
Return
+113%
Crash-month installments bought units cheap — that's the whole SIP thesis, demonstrated with real data instead of a brochure.
This fund in other crashes
Other Large Cap funds in this crash
All figures computed from published AMFI NAV history for Groww Largecap Fund (formerly known as Indiabulls Blue Chip Fund). Past performance — including past recoveries — does not guarantee future results. This is educational research, not investment advice. Mutual fund investments are subject to market risks.