Alternative Investments and Credits Limited

What Alternative Investments and Credits Limited does

Alternative Investments and Credits Limited (AICL) is an unlisted public company headquartered in Kozhikode, Kerala, India, founded in 2000 as a provider of alternative finance operating on Sharia principles of equity and justice. The company offers two core products: management consultancy services for businesses seeking alternative financing, and investment funding for emerging companies across 10+ industries. Over its 20-year history, AICL states it has invested Rs. 45 crores cumulatively and impacted approximately 100 businesses. Its distribution model is direct, sales-led engagement with enterprise clients, and it relies on its corporate website as the primary communication channel for shareholders and prospective investors.

AICL generates revenue through consultancy service fees and returns on equity participation in portfolio companies. The company has no disclosed technology platform beyond a basic corporate website and shareholder document repository; no app, API, or proprietary technology stack is documented. Headcount is exceptionally lean at 6 employees, and the company's value proposition rests on its first-mover positioning in Sharia-compliant alternative finance in India, backed by its founding-era association with then-Chief Minister of Kerala AK Antony. The firm has diversified its corporate structure through three wholly-owned subsidiaries: AICL Enterprises LLP (general enterprise), Destino Travel World Private Limited (travel and tourism), and AICL Builders and Developer (real estate development) — moves that extend well beyond its original financial services charter. Shareholder communications are conducted via Annual General Meetings, with securities dematerialised through NSDL under ISIN INE08MM01012 since May 2019.

Name

Alternative Investments and Credits Limited

Legal name

Alternative Investments and Credits Limited

Website

https://aicl-india.com

Company type

Private

Founded year

2000

Operating status

Operating

Headcount range

1–10 employees

Short description

Alternative Investments and Credits Limited (AICL), founded in 2000 in Kozhikode, Kerala, is a Sharia-compliant alternative finance company providing management consultancy and equity investment to emerging Indian businesses across 10+ industries, with diversified subsidiaries in travel and real estate.

Ownership category

akta.pro rank

Product category

Alternative Financial Services

NAICS

Credit Intermediation and Related Activities (522)

SIC

Miscellaneous Business Credit Institution (6159)

akta.pro primary industry

Asset-Based Lending (ABL) (FSANADAD)

akta.pro secondary industry

Direct Lending — Asset-Based Lending (ABL) (FSAHAJAE)

Keywords

• Alternative finance services
• Sharia compliant finance
• Investment funding
• Management consultancy
• Emerging company finance

Headquarters

HQ city

Kozhikode

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Consultancy Services: AICL offers management consultancy services to businesses seeking alternative finance solutions.
2. Investment in Companies: AICL funds emerging companies looking for investment, generating returns through equity participation and investment gains.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

Alternative Investments and Credits Limited (AICL) provides management consultancy services and investment funding to emerging companies in India, operating on Sharia principles of equity and justice. The company engages directly with businesses seeking alternative financing beyond traditional banking, funding them through equity participation while delivering management advisory services. It also maintains wholly-owned subsidiaries spanning enterprise services, travel, and real estate development as part of its diversification strategy.

Product overview

Alternative Investments and Credits Limited (AICL) is a pioneer of Alternative Finance in India operating on Sharia principles of equity and justice. Established in 2000, the company offers a unified platform for ethical and sustainable finance, providing management consultancy services and investment funding for emerging companies. AICL has diversified its services through subsidiaries including AICL Enterprises LLP (general diversification), Destino Travel World Private Limited (travel), and AICL Builders and Developer (real estate development). With 20 years of expertise, the company has invested across 10+ industries and impacted 100 businesses. The company also provides shareholder services including downloadable reports, nomination forms, KYC documentation, and annual reports.

Differentiator

Problem solved

Functional benefit

Products and services

• Consultancy Services Management consultancy services offered to businesses seeking alternative finance solutions, advisory, and related support on Sharia-compliant equity and justice principles.
• Investment in Company Funding for emerging companies looking for investment, provided through equity participation and Sharia-compliant instruments under principles of equity and justice.

Quantifiable outcome

• 45 Crores invested across 10+ industries
• +2 more outcomes

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Four partnerships are on record, tiered subsidiary and operational partner.

• AICL Enterprises LLPsubsidiaryOthersAs part of recent diversification initiative, AICL established AICL Enterprises LLP as a subsidiary company.
• Destino Travel World Private LimitedsubsidiaryOthersDestino Travel World is a subsidiary focused on travel and tourism services, part of AICL's diversification strategy.
• AICL Builders and DevelopersubsidiaryOthersAICL Builders and Developer is a subsidiary company focused on real estate development and construction.
• National Securities Depositories Limited (NSDL)operational partnerTechnology or IntegrationTripartite agreement signed with NSDL for dematerialisation of company securities. ISIN No. INE08MM01012 allotted with effect from 30.05.2019.

Scale indicators4 records

Recent moves3 records

Expansion highlights4 records

Broad incumbents

• Bajaj Finance: One of India's largest diversified NBFCs offering consumer, SME, and commercial credit. Represents the scale ceiling for AICL — comparable product categories (SME and emerging-company funding) but with vastly broader product range and pan-India distribution.
• Shriram Finance: Large Indian NBFC focused on financing informal-sector customers, small businesses, and used vehicles. Comparable in serving underserved emerging businesses, though operating at vastly larger scale with conventional financing products.
• Manappuram Finance: Kerala-based diversified NBFC with gold loans, microfinance, and vehicle finance. Comparable regional presence and target customer base (informal-sector borrowers), though operating on conventional finance rather than Sharia principles.
• Cholamandalam Investment and Finance: Major Indian NBFC under the Murugappa Group offering vehicle finance, home loans, and SME lending. Comparable in providing credit to emerging businesses, with a much larger and more diversified product set.
• Muthoot Finance: India's largest gold-loan NBFC, also headquartered in Kerala. While it operates conventional interest-based lending at massive scale, it is the most prominent Kerala-rooted alternative-credit provider and serves similar unbanked/underbanked SMB segments.

Direct peers

• Fusion Microfinance: Indian microfinance NBFC serving women entrepreneurs and small businesses in underserved segments. Comparable mission of providing alternative credit to borrowers outside the traditional banking system.
• CreditAccess Grameen: India's largest microfinance institution serving rural and emerging micro-entrepreneurs. Directly comparable in deploying small-ticket capital to underserved businesses across India, though at much greater scale.
• Asirvad Microfinance: Indian NBFC-MFI focused on financial inclusion for micro-entrepreneurs. Comparable in extending credit to emerging small businesses that lack access to mainstream bank financing, with similar customer-segment overlap.

Others

• International Finance Corporation (IFC): World Bank Group private-sector development finance arm. Comparable mission of deploying private capital into emerging businesses in developing markets, including India, though at vastly larger scale and through conventional structures.
• Acumen Capital Partners: Impact-investment organization that deploys patient capital into early-stage companies serving low-income customers in India and other emerging markets. Comparable in mission of financing underserved businesses outside traditional credit channels.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat2 records

Key risks5 records

Key highlights5 records

Customer concentration

• LinkedInlinkedin.com/company/alternative-investments-and-credits-limited

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Subsidiaries3 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 Alternative Investments and Credits Limited