2025-07-17 Thu

The Malwa Sultanate was established in 1392 CE and was initially ruled by the Khaljis, of Afghan origin, in present-day Madhya Pradesh and southeastern Rajasthan. From 1518, it became a vassal of the Gujarat Sultanate until it was captured by the Mughals under Akbar from 1562 CE onward.

Dilawar Khan, appointed governor of Malwa by the Delhi Sultanate, declared independence in 1392 CE, founding the Malwa Sultanate. However, he did not formally assume control until 1401 CE.

Initially, Dhar served as the capital of the new kingdom, but it was later shifted to Mandu, which was renamed Shadiabad, meaning "The City of Joy." The coinage of the Malwa Sultanate is varied and highly interesting for collectors. Following Dilawar Khan's death, his son Alp Khan ascended the throne in 1405 CE, taking the title Hissam al-Din Hushang Shah. He ruled until 1435 CE (AH 808–838).

Hissam al-Din Hushang Shah issued coins in gold, silver, and copper. His copper falus weighed between 3.7g and 4.6g, while the copper half-falus weighed approximately 1.8g, minted at Dar al-Mulk Shadiabad. The obverse bears the Persian legend "Hushang Shah Al-Sultan," and the reverse bears the Persian legend "Dar Al-Mulk Shadiabad." Half-falus coins are very rare.