Idafa Investments

What Idafa Investments does

Idafa Investments Pvt. Ltd. is a Mumbai-headquartered (with a Surat branch) private investment advisory and financial education firm founded in 1993 by Ashraf Mohamedy, operating entirely within Shariah-compliant investing principles. The company screens listed equities against proprietary Islamic criteria — excluding companies with debt-to-assets or receivables-to-assets ratios at or above 33%, and barring alcohol, tobacco, vulgar entertainment, and interest-based financial institutions — and executes trades on BSE and NSE through a partnership with Angel One Ltd., which also provides demat and trading account infrastructure. Beyond core stock broking, Idafa distributes Shariah-compliant equity mutual funds (minimum Rs. 5,000 lump sum or Rs. 150 SIP) and alternative profit-and-loss-sharing investments sourced via Rehbar Finance, supplemented by complementary services including retirement, goal-based and tax planning, interest-free loans, and health insurance advisory.

Since 2016, the company has run the Idafa School for Financial Freedom, a tiered AAZAADI course franchise spanning free introductory seminars, INR 3,500–4,999 short workshops, a INR 49,999 three-month trader-development program (AAZAADI Next), and a INR 14,900 partner certification track (AAZAADI Associate) that trains associates for NISM certification and financial product distribution. The combined business model derives revenue from brokerage and distribution commissions, advisory fees, course tuition, and associate channel sales, targeting Indian resident and NRI investors seeking ethical, faith-aligned wealth creation, with a secondary market of aspiring financial advisors and work-from-home income seekers.

Name

Idafa Investments

Legal name

Idafa Investments Pvt. Ltd.

Website

https://idafa.com

Company type

Private

Founded year

1993

Operating status

Operating

Headcount range

11–50 employees

Short description

Idafa Investments is a Mumbai-based Shariah-compliant investment advisory and stock broking firm (founded 1993) serving Indian and NRI retail investors, offering screened equity trading via Angel One, mutual funds, and the AAZAADI financial-education course series.

Ownership category

akta.pro rank

Product category

Shariah-Compliant Investment Advisory

NAICS

Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523), Other Financial Investment Activities (5239)

SIC

Security Brokers, Dealers & Flotation Companies (6211), Investment Advice (6282)

akta.pro primary industry

Islamic Private Banking & Wealth (FSABAGAD)

akta.pro secondary industries

Islamic Investment Banking & Capital Markets Services (FSABAGAG), Islamic Transaction Banking (Cash Management & Treasury Services) (FSABAGAF)

Keywords

• Shariah-compliant investing
• Investment advisory services
• Stock broking services
• Islamic finance education
• Wealth management advisory

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Stock Broking Services: The company has offered stock broking services since 1993, executing trades on BSE and NSE for clients. Revenue is generated through trading commissions and fees on equity investments and Shariah-compliant mutual fund distribution.
2. Educational Courses and Workshops: Idafa School of Financial Freedom generates revenue through paid courses including AAZAADI Essential (free seminars), AAZAADI Intensive (INR 4,999), AAZAADI Next (INR 49,999), Bootcamp (INR 3,500), 1 Crore Formula (INR 4,999), and AAZAADI Associate (INR 14,900 including GST).
3. Investment Advisory: Comprehensive wealth management services including retirement planning, goal-based planning, tax planning, and insurance advisory, generating fees from advisory services and product distribution commissions.
4. Shariah-Compliant Mutual Fund Distribution: Distribution of Shariah-compliant equity mutual funds with minimum investment of Rs. 5,000 lump sum or Rs. 150 SIP, earning distribution commissions.
5. Alternative Investments - Profit & Loss Sharing: Monthly income plans through Rehbar Finance identifying businesses for investment on Profit & Loss Sharing basis, and eCarWorld lease-to-own car investments generating rental income.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels4 records

Core offering

Idafa Investments provides Shariah-compliant investment advisory and stock broking services, executing equity trades on BSE and NSE through the Angel One platform after screening listed companies against Islamic finance criteria (debt-to-assets, receivables-to-assets, and industry exclusions). The firm also distributes Shariah-compliant equity mutual funds, monthly income plans via Rehbar Finance, and runs the Idafa School for Financial Freedom, offering tiered paid financial education courses under the AAZAADI brand.

Product overview

Idafa Investments offers a comprehensive suite of Shariah-compliant wealth creation services built around a core investment advisory and stock broking platform. The primary offerings include equity investment and trading through Angel One Ltd., Shariah-compliant mutual funds, monthly income plans via Rehbar Finance and eCarWorld, along with complementary services for retirement planning, goal-based planning, interest-free loans, insurance, and tax planning. The company also operates the Idafa School for Financial Freedom (established 2016) and the AAZAADI educational programme series, which offers six distinct course tiers ranging from free seminars (AAZAADI Essential) to intensive multi-month programmes (AAZAADI Next at INR 49,999) and the 1 Crore Formula investment course.

Differentiator

Problem solved

Functional benefit

Products and services

• Shariah-Compliant Stock Broking Services
• Shariah-Compliant Equity Mutual Funds
• Monthly Income Plans (Profit & Loss Sharing)
• Retirement Planning
• Goal-Based Planning
• Interest-Free Loans
• Insurance
• Tax Planning
• AAZAADI Essential (Free Seminar)
• AAZAADI Intensive (Two-Day Workshop)
• AAZAADI Next (Three-Month Program)
• AAZAADI Next Bootcamp
• The 1 Crore Formula (Investment Course)
• AAZAADI Associate (Partner Program)
• Idafa School for Financial Freedom

Quantifiable outcome

• Over 3,000 clients served across India with offices in Mumbai and Surat
• +1 more outcomes

Named customers4 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature1 record

Partnerships

Four partnerships are on record, tiered core and minor.

• Angel One Ltd.coreTechnology or IntegrationAngel One Ltd. provides the investment and trading platform powering Idafa Investments' equity services. Clients can open trading and DEMAT accounts through this partnership, enabling execution of Shariah-compliant trades on BSE and NSE. The partnership offers free account opening for one year for AAZAADI Next course participants.
• Rehbar FinancecoreStrategic or Co-development PartnerRehbar Finance identifies businesses for investment on Profit & Loss Sharing basis, offering monthly income plans to Idafa clients. The partnership provides due diligence on business projects for Shariah-compliant investment opportunities.
• eCarWorldminorStrategic or Co-development PartnerPartnership enables clients to invest in Lease to Own car deals, earning rental incomes through vehicle leasing arrangements.
• Rehbar Financial ConsultantsminorGTM or Marketing PartnerBangalore-based financial consultancy that organized an interactive session on Islamic finance featuring Idafa Investments director Ashraf Mohamedy as chief guest. Represents a marketing/awareness partnership for thought leadership.

Scale indicators3 records

Recent moves6 records

Expansion highlights6 records

Emerging players

• Groww: Fast-growing Indian retail investment platform offering stock broking and mutual fund distribution with a strong financial literacy content engine. Comparable in retail investor education + trading platform combination, targeting a similar demographic.

Broad incumbents

• IIFL Securities: Large Indian retail broking and wealth management firm offering advisory, broking, and distribution. Overlaps with Idafa's investment advisory and mutual fund distribution activities, but at substantially larger scale.
• Motilal Oswal Financial Services: Diversified Indian financial services firm offering broking, mutual funds, wealth management, and financial education. Comparable across multiple of Idafa's revenue streams including equity research-driven advisory and retail distribution.
• Zerodha: India's largest retail stock broker offering BSE/NSE execution and mutual fund distribution. Comparable as a stock broking platform serving Indian retail investors, though without Idafa's Shariah screening overlay.
• Bajaj Finserv: Large Indian financial services conglomerate offering loans, insurance, and wealth advisory. Comparable as a multi-product retail wealth provider that includes insurance, lending, and goal-based planning — overlapping with Idafa's add-on service lines.
• Angel One Ltd. Full-service retail broker that powers Idafa's trading platform. Overlaps as a broker-dealer serving Indian retail equity investors, and serves as both Idafa's technology backbone and a potential competing distribution channel.

Direct peers

• NJ Wealth: Indian mutual fund distribution and wealth advisory platform with a partner/associate network model similar to Idafa's AAZAADI Associate program. Comparable in distributor-led retail wealth advisory with tiered course/certification and commission structure.
• Taqwaa Advisory and Shariah Investment Solutions (Tasis): A Mumbai-based Shariah investment advisory firm explicitly referenced in Idafa's own blog content. Direct competitor operating in the same Islamic-compliant retail advisory niche with overlapping screening methodology and target clientele.
• Way2Wealth: Indian retail investment advisory and stock broking firm offering equity advisory, mutual fund distribution, and wealth planning. Directly comparable in multi-product retail advisory and trading services across Indian markets.

Regional players

• Rehbar Financial Consultants: Bangalore-based Islamic finance consultancy that partners with Idafa on thought leadership events. Comparable as a regional player in Islamic finance advisory and education, though narrower in product breadth.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/IdafaInvestmen1
• Facebookfacebook.com/idafainvestments

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Idafa Investments