Halal IPO Guide - Islamic Investment Platform

Shariah Screening for Upcoming IPOs

Mizan Capital does not currently maintain an in-house Shariah Board. For IPO-related Shariah screening, we rely on the methodology developed by Zamzam Capital, which exclusively conducts Shariah screening for Mainboard IPOs.

Sharia Compliant

Expert Analysis

Trusted Platform

Search IPOs

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IPOs Available

Active

2026

Total IPOs

Mainboard

Halal IPOs

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Upcoming IPo

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Disclaimer :- We only conduct screening for Mainboard IPOs.

Smart IPO Filters

Compliant

Hexagon Nutrition Ltd IPO
Hexagon Nutrition Ltd

Opening

5 June 2025

Closing

9 June 2025

Listing date

12 June 2026

Price Band

₹42 - ₹45

Min. Investment

₹14,985

Lot Size

333

Shariah Screening by Zamzam Capital

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Non Compliant

CMR Green Technologies Ltd IPO
CMR Green Technologies Ltd

Opening

3 June 2026

Closing

5 June 2026

Listing date

10 June 2026

Price Band

₹182-₹192

Min. Investment

₹14,976

Lot size

78 shares

Shariah Screening by Zamzam Capital

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Islamic Investment Guidelines

Comprehensive Shariah-compliant investment principles to help Muslim investors make informed decisions according to Islamic law

100% Shariah Compliant

Expert Scholar Review

Real-time Monitoring

No Riba (Interest)

Companies must avoid interest-based transactions and maintain debt-to-equity ratio below 33%

Key Metrics:

Debt Ratio < 33%

Interest Income < 5%

No Gharar (Uncertainty)

Investments must be transparent with clear terms and minimal excessive speculation

Requirements:

Clear business model

Transparent reporting

No Maysir (Gambling)

Strictly avoid companies involved in gambling, gaming, or purely speculative activities

Prohibited:

Casino operations

Online gambling

Halal Investment Criteria

Permissible Business Activities

Technology & Software

Healthcare

Renewable Energy

Manufacturing

Education

Transportation

Financial Requirements

Debt-to-equity ratio < 33%

Interest income < 5%

Cash holdings < 33%

Haram Investment Criteria

Prohibited Business Activities

Banking & Finance

Conventional Insurance

Alcohol & Tobacco

Gambling & Gaming

Adult Entertainment

Non-Halal Food

Financial Red Flags

Debt-to-equity ratio > 33%

Interest income > 5%

Excessive speculation High Risk

Our Comprehensive Screening Process

Every IPO undergoes rigorous multi-stage analysis by our expert team and Islamic scholars

Business Activity Review

Comprehensive analysis of core business operations, revenue sources, and industry classification

Key Areas:

Primary business • Revenue streams • Industry sector

Financial Ratio Analysis

Detailed examination of financial metrics including debt levels, interest income, and cash holdings

Metrics Checked:

Debt ratio • Interest income • Cash holdings

Shariah Board Review

Final compliance verdict by our panel of qualified Islamic scholars and Shariah experts

Final Decision:

Halal • Haram • Under Review

Continuous Monitoring & Updates

Shariah compliance is not static. We continuously monitor all companies to ensure ongoing compliance with Islamic principles.

Quarterly Reviews

Regular financial analysis and business activity updates

Real-time Monitoring

Instant tracking of business changes and financial metrics

Instant Alerts

Immediate notifications when compliance status changes

Important Notice

Dynamic Compliance: A company's Shariah compliance status can change based on business activities, financial performance, and market conditions.

Regular Updates: We recommend checking the latest compliance status before making any investment decisions.

Expert Guidance: Our Islamic scholars are available for consultation on complex compliance matters.

Shariah Screening for Upcoming IPOs

Search IPOs

Today Open

2026

Halal IPOs

Upcoming IPo

Smart IPO Filters

Hexagon Nutrition Ltd IPO Hexagon Nutrition Ltd

CMR Green Technologies Ltd IPO CMR Green Technologies Ltd

Islamic Investment Guidelines

No Riba (Interest)

No Gharar (Uncertainty)

No Maysir (Gambling)

Halal Investment Criteria

Permissible Business Activities

Financial Requirements

Haram Investment Criteria

Prohibited Business Activities

Financial Red Flags

Our Comprehensive Screening Process

Business Activity Review

Financial Ratio Analysis

Shariah Board Review

Continuous Monitoring & Updates

Quarterly Reviews

Real-time Monitoring

Instant Alerts

Important Notice

Hexagon Nutrition Ltd IPO
Hexagon Nutrition Ltd

CMR Green Technologies Ltd IPO
CMR Green Technologies Ltd